Cryptocurrency exchange Coinnest by mistake gave the clients crypts for $5 million

Cryptocurrency exchange Coinnest by mistake gave the clients crypts for $5 million

Cliché — an auction of unprecedented generosity — perhaps when the reg is so appropriate. The crypto currency exchange Coinnest instead of airdrop WGT tokens by mistake gave the users bitcoins and other coins, as well as Korean won in excess of $5 million, and is now trying to recover the funds.

How should We Game the Token is not known — in the ranking Coinmarketcap it is not. For what amount he was going to give Coinnest, we don’t know, but obviously not on $5.3 million In any case, it was about a fairly ordinary event for the exchange and its customers, which, however, was unforgettable for all participants.

The total value of the distributed assets amounted to about 6 billion Korean won — part of the sum in the result of a server failure, the clients of the exchange, by the way, I immediately got in won. However, other members of airdrop was more fortunate — instead of tokens WGT they got more expensive cryptocurrency, including bitcoin.

The server problem was resolved on January 19, the company continues attempts to return the funds, and encourages users to understand. In particular, the exchange managed to return half of the funds in won, however, with the crypt, the situation is worse. Exchange blocked the withdrawal within half an hour after the failed, and did not restore it until now, but it was not fast enough.

Many of the traders who received bitcoins is obviously an inexpensive tokens, hastened to take advantage of this gift by selling them. Instant reset bitcoin even cause his fall rate to $50, that raises questions is already to the exchange.

If the sale of bitcoins in the amount of significantly less than $5 million (after all of the money was issued in won and other currencies, and it is unlikely every one of the recipients of Bitcoin rushed to sell it, seeing such a drop in prices) has fallen off the rate to $50, what exchange liquidity?

Coinnest a year ago was named one of the five largest South Korean kryptomere and took a seat in the middle of the first hundred of the largest in terms of turnover. Given the suspicion of inflated trading volumes on the South Korean stock exchanges, which in the case of Komid resulted in charges, and then the prison term its CEO and his subordinate, the results kind of stress test of liquidity at least make you think.

The situation is compounded by the fact that SEO Coinnest has experience with law enforcement on a specific topic — however, in his case, talking about the inflated volume of trading was not. He was arrested and held in investigation into alleged misappropriation of client funds and receiving bribes for the listing of the token.

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