looks like a lot of people got f*** today at 3AM, ltc down to 1,5€ ? what happened? will you refund people on those flash crash?
what are your actions to prevent further flashcrashes?
Will there be an official statement?


5 Comments

  1. [deleted] on 4. March 2023 at 22:59

    If one bot can do this I’m not sure I feel safe keeping my money on bitstamp anymore. I had one stop triggered, but it could have been much worse had I not sold off all my XRP a few days prior.

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  2. Bitstamp-Domen on 4. March 2023 at 22:59

    The increased price action on our EUR pairs on 7. October 2018 was the result of a client’s deviant trading behavior, caused by a glitch in their trading algorithm. Bitstamp does not trade on its platform, all executed orders are filled client-to-client as placed in the order book. Bitstamp had no influence on the price action, since our platform performed as designed.

    We understand the frustration of our customers whose orders the bot executed, however, Bitstamp will not be reversing trades or covering any potential losses incurred during the event, since the orders were executed as placed in the books.

     


  3. motawa on 4. March 2023 at 22:59

    What happened? Could it be massive stop losses triggered?

     


  4. motawa on 4. March 2023 at 22:59

    Yup it was a misbehaving bot of a whale that triggered SLs. I don’t think this is bitstamps responsibility to be honest.

     


  5. jerry2021 on 4. March 2023 at 22:59

    Tonight at 3 AM some weird activity was going on lowering price of ripple to 34 EURO cents and bitcoin to 5000 EURO and minutes later it went to 67 cents and 6700 EURO.

    Needless to say “I bought” at 67 cents and 6700 EURO. That would not be something for alert, my alert is this:

    I have set a stop buy order for ripple at 44 cents (it was 42 cents at a time). When my order triggered the first available ripple seemed to be at 67 cents!!! And bitcoin my stop buy was at 5800 EURO, but I bought at 6700 EURO…

    As this exchange (does ANY other?) doesn’t have any stop buy or sell protection if someone had sell at 1 EURO ripple I could buy at 1 EURO or 2 or 3… The order book that is set is the limit there, you could loose thousands of EURO in a second, but not honestly …

    One unlucky guy sold his LTC at 1,5 EURO!!! Yes someone was lucky to buy it there, but that is not my point. It should not happen as this is clearly not doing business properly. Such price difference in 1 second should not trigger a buy (or sell)…

    But then again, I could have bought BTC at 10.000 EURO or ripple at 5 dollars is somebody had such high order in the order book.

    They stopped the service for a while, but who will refund our lost money? I guess nobody? 🙁