Bitcoin Exchange Prices Accidentally Drops To Zero For 18-minutes


Zaif, a mix-up at Japanese cryptocurrency exchange reduced the price of Bitcoins to zero last week. The price was reduced for 18 minutes and seven customers were able to get Bitcoin at cut-rate which were later voided. One of the traders managed to reach a holding of $20 trillion and tried to resell it. Japanese outlet Asahi Shumbun said that the matter was resolved within two hours after the glitch occurred.

One buyer who purchased 2,200-trillion-yen worth of Bitcoin and then tried to resell all of them. The total bounty of this purchase exceeded the cryptocurrency’s total worth by several trillion dollars. Japan’s Financial Services Agency is investigating Tech Bureau, which is the group who owns Zaif exchange. The record for biggest Bitcoin heist remains at $530 million. It could have been broken if the exchange of 2200-trillion-yen worth of Bitcoins was made successful by the seller.