Coinbase messed up. That’s right, the world’s largest cryptocurrency exchange recently made a mistake that cost its customers millions of dollars.
It all started with a tweet. Coinbase tweeted that it had accidentally sent out emails to customers that gave them the wrong amount of Bitcoin Cash (BCH). Coinbase explained that this was due to a “bug” that had been active since January of 2018.
The bug caused Coinbase to send out emails with incorrect amounts of BCH. In some cases, the incorrect amounts were over $1 million. When customers received the emails, they immediately began selling their BCH, causing the price of BCH to drop.
Coinbase apologized for the mistake and said that it would reimburse its customers for any losses that were incurred due to the bug. The company also said that it would be taking measures to prevent this kind of issue from happening again.
Coinbase’s mistake shows just how important it is to be careful when dealing with cryptocurrencies. While Coinbase has taken steps to make sure that this kind of mistake doesn’t happen again, it’s still important to be aware of the risks associated with investing in cryptocurrencies.
