[2018-02-21] Japanese Crypto Exchange Error Let Buy Bitcoin for Free

[Rick Nolan]

Zaif, a government-registered exchange run by Osaka-based Tech Bureau Corp, said on Tuesday that a system glitch had let seven customers buy bitcoin with no yen value during a 20-minute window last week.

The exchange voided the trades after discovering the error, which happened on February 16 - though it was still trying to resolve the issue with one customer who tried to transfer the knock-down bitcoins from the exchange, a spokesman told Reuters.

Read more: https://hype.codes/japanese-crypto-exchange-error-let-buy-bitcoin-free

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[aso118]

This just proves that registration with the government is not going to solve all the problems of exchanges. While the bug only lasted for a 20 minute window, how much time did they take to inform customers and reverse trades? If the amounts aren’t large, it would make good PR sense to honour the trades. Some lucky users who bought ether during the flash crash last year were allowed to keep them.

[yojodojo21]

Those Person who get it for free think that they are lucky at that time but it was voided so all in all that supposed to be a luck is a chance of nothingness. if it happens for a long time maybe some users take advantage for that, and supposedly developers should launch project with the possibility of having a chance that they might have some technical error so good thing is it was fixed as early as it is needed.