Coinbase users in Georgia have cashed out 100x their local currency balance after noticing a decimal error in the system.
Coinbase Georgia users recently noticed a technical error that excited them and made thousands of dollars in profit. local currency of Georgia LariExpressing , and located between Coinbase trading pairs GEL/USDToccurring in the system decimal code error next 100 times allowed valuable transactions. Normally 1 dollar 2.90 GEL After a code error while 1 dollar 290 GEL priced as. For example, after the error 100 dollar lari Users holding (GEL) 10 thousand dollars They had the opportunity to withdraw money into their bank accounts. The system error in question was soon noticed by the stock market and fixed after a minor update.
A Coinbase spokesperson made the following statements on the subject:
An algorithm error has occurred and a decimal point problem has arisen. We would like to point out that this bug was exploited by 0.001% of our total users, that is, by about 1,000 customers. His issue was quickly resolved and legal proceedings were initiated to recover improperly withdrawn funds.
Although a Coinbase spokesperson did not disclose the extent of the loss, some users who took advantage of the short-term deficit transferred their money to their bank accounts. frozen by banks reported.