The exchange crashed, turning many virtual currency investors into USD billionaires in a few hours

Two major exchanges, Coinbase and CoinMarketCap, and several other smaller exchanges have been affected by this incident.

"You're drunk Coinbase," one Twitter user humorously shared.

This incident did not cause much surprise or panic. The reason is because of the world of virtual money, cryptocurrencies are no stranger to technical problems on exchanges. However, some exchanges decided to close when the price of virtual currency skyrocketed, making investors a little worried.

The exchange crashed, turning many virtual currency investors into USD billionaires in a few hours Picture 1

Display problem

Upon investigation, it was found that the cause of the problem was a display issue rather than a hack.

'We are aware that some customers are seeing unusually high values ​​of their non-tradable digital assets on Coinbase.com and Coinbase Wallet,' a Coinbase representative said in a statement. "This is just a display issue and does not affect the transaction. We apologize if we created any confusion for our customers."

Many investors were quick to show their sense of humour. "I invested virtual money with the desire to go to the Moon (to the Moon) but now I can go to the farthest star in the universe," an investor shared with a photo of his portfolio. We are worth more than 228 million USD.

'Becoming a trillion dollar owner sounds great, but I think it can increase my tax bracket a bit,' quipped Dogecoin founder Billy Markus.

Isabella Humphrey

Update 17 December 2021