In what is now the second publicized transaction gone wrong on Binance, an anonymous trader paid almost $100,000 for a single litecoin. Just days ago, another user reportedly lost $400,000 paying over 17,000 times the market price of a token by pressing “Market Buy” on Binance. The exchange is yet to respond.
PAX brings bad luck to traders twice in one week
Binance, one of the biggest and most popular cryptocurrency exchanges in the world, has seen another trade go wrong. Just a few days ago, an anonymous user reportedly lost $400,000 paying over 17,000 times the market price of a token by pressing “Market Buy” on Binance.
The event left many speculating on whether or not the alleged loss actually happened, and if it did, how did an exchange as large as Binance allows for such a trade to go through in the first place.
While the public was waiting for the exchange to comment on the issue, another suspicious trade involving the Paxos stablecoin caused the value of litecoin to reach the price of $ 99,997.99. According to Binance’s trade log, the trade happened in the early morning hours of May 14th.
Community divided, Binance silent
Having another trade go wrong in just three days has prompted many Twitter users to believe that the LTC jump to $100,000 was a result of a data error.
— The Great Batsby (@CC_Batmans) May 14, 2019