Coinbase users in the Eastern European country of Georgia have reportedly been exploiting a price bug to cash out holdings for 100 times the exchange rate.
Georgia’s lari currency was priced at $290 rather than $2.90 on Wednesday (Aug. 31), CoinDesk wrote Friday (Sept. 2), which Coinbase said was a “third-party technical issue.” But because of the error, users holding $100 worth of the currency on Coinbase could withdraw it for $10,000.
Some users had their debit cards and accounts frozen after the transfer, which Coinbase said wasn’t its intent.
In other news, Max Keidun, the CEO of peer-to-peer bitcoin exchange Hold Hodl, has said his next platform will maybe be able to get banks to love bitcoin.
The platform, called Debifi, will let users borrow long-term loans in stablecoins and fiat using their bitcoin as collateral, CoinDesk reported. It’s expected to roll out next year, and Keidun said some banks have already expressed interest in joining as lenders, though he didn’t name...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...