“Flash Crash” hit cryptocurrencies NEO, OMG, and ETP on the Bitfinex exchange on Wednesday. The crash triggered to exchange to close positions leaving many with thousand dollars of loss.
Customers claim the orders weren’t executed correctly and the platform was hit by technical glitches. Many are demanding refunds.
Bitfinex claims everything occurred as it should.
A “flash crash” on the world’s biggest cryptocurrency exchange has left customers demanding answers and refunds, with many claiming to have lost thousands of dollars.
Customers have taken to Twitter, Reddit, Medium, and messaging app Telegram to protest Bitfinex’s treatment of those who use margin trading on the platform.
How to trade #Bitcoin and #Ethereum in #Singapore https://t.co/XgwR5Ss8u7
— ocworkbench (@ocworkbench) December 3, 2017
In any leverage trading, there are always chances of slippage, be it in virtual currencies or in forex pairs. Always trade with care and set tight stop loss to guard against sudden huge movements.