Crypto.com desbloquea a usuarios, revierte las operaciones fallidas de LUNA que ganaron 30-40x

Crypto.com was one of the few crypto exchanges to keep LUNA trading open as the Terra death spiral saw the price of LUNA and the UST stablecoin plunge irretrievably. However, a glitch in the Crypto.com mobile app allowed users to make a 30-40x profit on LUNA trades momentarily.

On Friday, Crypto.com abruptly banned users from trading after an internal tool detected that the system was quoting incorrect prices for LUNA due to some bug. Just as crypto-Twitter began raising concerns about trade reversals on the exchange, Crypto.com CEO Kris Marszalek revealed details about a bug that allowed users to get away with massive profits.

There were many customers who bought at the wrong prices and, of course, some also took the opportunity to exploit the flaw to the fullest.

We have canceled all operations.

Some customers saved a ton of dollars and thank us, others didn’t abuse the bug and criticize us.

According to Marszalek, users who traded “during those 59 minutes” are entitled to a buyback option at the market price of LUNA tokens, which has since fallen to $0.0004685 at the time of writing. It is important to note that LUNA reached its all-time high market price of nearly $120 on April 5.

Marszalek noted:

“The root cause was a combination of multiple external factors (tick size changes due to the Luna death spiral, pullbacks, and the halting of the entire Luna chain) that together led to price dislocations that normally should be captured by index pricing, but they were not.

After a day’s review of the LUNA trading debacle, Marszalek reported that “all user accounts have been re-enabled.”

Although Crypto.com reversed LUNA transactions, the company has offered $10 of its internal Cronos token (CRO) as a goodwill gesture to affected investors.

With the price of LUNA plummeting by more than 99%, Terra’s blockchain validators officially halted the network in order to prevent governance attacks.

The Terra blockchain has officially stopped at a block height of 7603700.

Terra validators have decided to stop the Terra chain to prevent governance attacks following the severe inflation of $LUNA and the significant reduction in the cost of attacks.

Validators are expected to get the network back up and running only after applying a new patch to disable new delegations.

The patch version is out: https://t.co/BZ8t86cuwA

Delegations will be disabled once block production resumes.

The network should go live once 2/3 of the voting power is online. An update will be provided accordingly

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