Discount Due To Glitch
on 26th February 2021 a crypto exchange in Philiphine called Philippine Digital Assets Exchange or PDAX was experiencing some glitch in their system. The consequence of the glitch was a bit shocking because several customer in the exchange manage to get Bitcoin in a discount price of $6000 USD. That such a huge discount from the real price. some of the customer even managed to get the bitcoin out from the exchange before finally PDAX halting the trade and shut down their website.
Legal Threat
Its get a bit wild because one of the customer who manage to move the bitcoin he purchased at the discount rate receive massages from the exchange demanding him to returned the bitcoin while threatening to take legal action and sue him if failed to do so.
so who's fault is it? we need to wait and hope for the best if we send wrong token or coin into the exchange, and will be harder to take legal action on them.
Meanwhile in India
if the glitch in Philippine causing problem to the exchange's side, there another fate happen in India.The NSE or National Stock Exchange halting trading because of the glitch that happen in their system.
Because of this glitch, Zerodha brokerage or so called Indian Robinhood closes intra-day position making lots of trader found themselves in great loses. If things like this happen, what can a normal trader with smaller capital expect to do? Can't just go and threat legal action because with more power they can easily make you in more trouble.
Wallstreetbet's Gamestop
This remind of of the Wallstreetbet Gamestop Craze. Its a bit harder for average people to get easy money for what they do legally against big corporation. And they will seek for authority back up when needed.
But how will you do if that is the case?
Source:
https://cointelegraph.com/news/exchange-demands-users-return-bitcoin-bought-for-6k-during-tech-glitch
https://www.livemint.com/market/stock-market-news/zerodha-faces-investor-fury-after-stock-exchange-glitch-11614255222483.html
