During a flash glitch, coinbase and coinmarketcap reported an inflated price per coin. These prices were only reported on thier platform during the glitch and were not actual prices.
Investors in Bitcoin BTC and other cryptocurrencies — who were made substantially wealthier, on paper, for some time on Tuesday after cryptocurrency prices went haywire on the biggest cryptocurrency websites — have mostly reacted hilariously to the episode on Twitter.
What Happened: Some of the cryptocurrency investors took to Twitter to joke about their huge windfalls that briefly made them billionaires and trillionaires — albeit on paper — and how people tried desperately to withdraw billions from their accounts.
Everyone trying to withdraw a billion from their account right now… #coinbasepic.twitter.com/4APYnMFXRx
— DJMOS (@DJMOS) December 14, 2021
One cryptocurrency holder joked that Coinbase Global Inc.COIN-2.83% was “drunk” after the cryptocurrency exchange displayed abnormally high prices for several cryptocurrencies.
lol, @coinbase you’re drunk. (WAGMI) pic.twitter.com/2W8DIQqFon
— Josh Ong (@beijingdou) December 14, 2021
Another Twitter user joked that he was anticipating landing on the moon and not “the farthest star in the universe.”
I was expecting to be landed on the moon not the farthest star in universe #CoinMarketCap #Coinbase pic.twitter.com/cyBa2QO7me
— Tolga (@designerty) December 14, 2021
DogecoinDOGE co-founder Billy Markus, who goes by the username Shibetoshi Nakamoto on Twitter, quipped that the erratic cryptocurrency prices made him an “unrealized quadrillionaire.”
ahhh, being an unrealized quadrillionaire is nice, but i think it might raise my tax bracket a bit pic.twitter.com/ddobkr3T3y
— Shibetoshi Nakamoto (@BillyM2k) December 14, 2021
A cryptocurrency investor, whose wallet showed a portfolio balance of $2.9 billion, felt she should sue Coinbase for playing with her emotions and blood pressure.
I should sue for playing with my emotions and blood pressure #Trustwallet#coinbase #Saitama pic.twitter.com/uj6Revz9NW
— CherryofMiami (@cherryof_miami) December 14, 2021
American conservative political commentator and author Michael Knowles said he received only $48 after selling $7.7 billion worth of EthereumETH that was shown in his wallet and asked Coinbase where the rest of his money was.
So @CoinbaseWallet showed my having $7.7 billion worth of Ethereum. I felt that was a tidy profit, so I decided to sell, despite the $1.2 billion miner fee. But so far I’ve only received $48.05! Where’s the rest of my money, @coinbase? pic.twitter.com/uWc3xelEsH
— Former Billionaire Michael Knowles (@michaeljknowles) December 14, 2021
Why It Matters: The wildly inaccurate cryptocurrency prices appearing on the cryptocurrency websites were initially speculated to be the result of a hack but the companies said it was the result of a “display issue.”
Cryptocurrency data provider CoinMarketCap said the issue has been resolved and the prices of all cryptocurrencies should now be accurate. The company added it is continuing to investigate the issue.
Coinbase said it was aware customers were having issues accessing its site and it is working to resolve the issue as soon as possible.
via this site
