CoinMarketCap glitch sent balances on BTC wallet in trillions: report

A bug with CoinMarketCap caused BTC wallet balances to hit the trillions, which means that users were seeing the wrong dollar balances on their accounts. Let’s find out more in the latest bitcoins news today.

Unfortunately, SafeMoon hasn’t reached the moon for many users, and the Shiba Inu hasn’t increased 50 decimal places either, all just some bad data. The source of the false data is that CoinMarketCap is a leading provider of crypto pricing data and, according to the data provider, a single BTC broke the $ 50,000 resistance today to hit the $ 799 billion value while ETH was $ 43 billion achieved as demonstrated to users. BTC wallet credit. Belief wallet, which relies on the provider CoinMarketcap for price data, is one of the affected products. Coin and token balances appear to be in the correct user balance, but dollar values ​​are not.

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Believe in Wallet is not alone. Exodus members displayed bogus dollar balances, and even Coinbase was hit for using CoinMarketCap metrics to show the value of assets it lists, like XRP. coinmarketcap didn’t respond to requests for more information about whether the bug was caused by a bug, but tweeted to confirm the problem:

“The technical team is aware of incorrect pricing information on http://CoinMarketCap.com. We are currently investigating and will update this status as more information becomes available. “

The data is not accurate but could have contributed to the real stagnation in the market rally that has already occurred, especially if users rushed to back off before looking closer. After falling to $ 46,000 a day ago, the BTC price rose to just under $ 48,700 today, but the price has remained unchanged for the last hour since the bug appeared. This isn’t the first time crypto users have seen bogus funds. Cryptocurrency lender BlockFi noted that 100 users of BTC that actually did not belong to them when one said they received 700 BTC worth $ 34 million at today’s prices. It then asks the user to return the money and even threatens legal action against someone who withdraws the money.

As recently reported, the market disruption from a week ago has not subsided. Bitcoin and Ethereum fell 6% on Monday, according to Coinecko. Last week ended on news that Chinese real estate developers Evergrande and Kaisa missed their US dollar bond payments, crashing both the crypto market and the bond market. Analyst Alex Kruger says we will soon see the impact of performance fees, audits, wash sales and bonuses.