Bitcoin, Crypto currency, Blockchain

CoinZest sends users to inadvertently $ 5 million in Bitcoin and Ethereum

CoinZest sends users to inadvertently 5.3 million US dollars in Bitcoin and Ethereum after a failed Airdrop

Home News CoinZest sends users to inadvertently 5.3 million US dollars in Bitcoin and Ethereum after a failed Airdrop

Marcel Knobloch –

Airdrops are in the crypto community is a welcome event, since in this case “free” digital Assets be used for the storage of certain crypto currencies distributed. The crypto exchange CoinZest has given users of the platform erroneously credits in Bitcoin and Ethereum, you have not earned.

The South Korean crypto exchange CoinZest tempter currently, digital currencies worth more than 5.3 million US-Dollar to recover, as these were issued by Mistake to registered users of the platform. However, this represents a major challenge, since the Blockchain provides immutable and irreversible transactions, and this subsequently not be changed or cancelled.

The error occurred when the Exchange wanted to distribute on the basis of an annual marketing action We Game Tokens via an Airdrop to its users. Instead, Small amounts of Altcoins and larger amounts of Bitcoin (BTC) and Ethereum (ETH) were distributed. The operator of the Exchange to make a technical error in the System is responsible, but the exact cause has not been clarified yet. User received a result of accidentally wrong Won-accounts, which led to great confusion in the use of.

Users were falsely Bitcoin, reacted immediately and your balances within the shortest possible time. According to Coindesk, Korea, this led to a short and fast drop in prices, caused by the resulting wave of selling. According to an insider, only a handful of users for the Price of break-in Manager (freely translated):

About ten members were trying to sell crypto-currencies to the value of around 600 million KRW or money in the South Korean Won to withdraw, although they had recognized the error of the Deposit of money and computer errors. [Therefore,] there was a Problem of rapid price decline.

Half of this amount, $ 2.6 million could be returned. The stock exchange continues to work with high pressure on the final solution to the problem. Regardless of whether users benefit from the mistakes of the stock market, this is an absolute exception, are secured by the balances in the Wallets of Exchanges only slightly. The better option is always to use an external Wallets.

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