.coinbase users in the Eastern European country of Georgia were able to exploit a mispricing that allowed them to cash out their holdings for 100 times the exchange rate, pocketing thousands of dollars in profit. By JamieCrawleyCD
Coinbase users in the Eastern European country of Georgia were able to exploit a price bug that allowed them to cash out their holdings for 100 times the exchange rate, pocketing thousands of dollars in profit.
Georgia's national currency, the lari , was priced at $290 rather than $2.90 on Wednesday. In an email to CoinDesk, Coinbase attributed the missed decimal point to"a third-party technical issue." The error allowed users holding $100 worth of lari on Coinbase to withdraw it to their bank account for $10,000.after transferring their funds to them, which Coinbase said was not at its behest.While the size of the Coinbase's loss hasn't been disclosed, a spokesperson described it as"a small non-material amount."
"We fixed the issue and and are taking action to retrieve the improperly withdrawn funds,” the spokesperson said.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Armed man threatened crew over street construction noise: policeThe dispute occurred over what time construction is allowed to begin in the New Jersey city.
Read more »
A judge just gave Brian Kemp — and Donald Trump — a huge giftThe judge's decision to delay Georgia Gov. Brian Kemp's testimony feels like the very election interference the court says it wants to avoid. (via TheReidOut Blog)
Read more »
Twitter will finally let you edit tweets — if you payThe 'Edit Tweet' feature will allow users to fix text and add tags to a tweet within 30 minutes after its initial publication.
Read more »
Google will allow one group of Pixel users to rollback to Android 12Google will allow developers to rollback to Android 12 from Android 13 to help them test their apps. There a few caveats and the general public is stuck with Android 13 once installed.
Read more »
Electric Boat With Vision Marine Outboard Motors Hits 109 MPHThis is the first time that any form of electric watercraft has passed the 100 miles per hour mark and it was with two soon-to-be-available outboard motors.
Read more »
'Heaven'! Jennifer Lopez Shares Memories From Georgia Wedding to Ben Affleck“This is heaven!” Jennifer Lopez breaks down her favorite memories from her and Ben Affleck’s second wedding ceremony:
Read more »