Crypto.com unblocks users, reverses glitched LUNA trades that made 30-40x By Cointelegraph


Crypto.com unblocks users, reverses glitched LUNA trades that made 30-40x

Crypto.com was one of the few crypto exchanges to keep (LUNA) trades open as Terra’s death spiral saw an unrecoverable price crash of LUNA and stablecoin TerraUSD (UST). However, a technical glitch on Crypto.com’s mobile application allowed users to get away with a 30-40x profit on LUNA trades momentarily.

On Friday, Crypto.com abruptly barred users from trading after an internal tool detected the system quoting incorrect prices for LUNA due to some error. Just when Crypto Twitter (NYSE:) started raising concerns about trade reversals on the exchange, Kris Marszalek, CEO of Crypto.com, revealed details about a glitch that allowed users to make away with massive profits.