The post Coinbase Earns $1 Million from Ethereum crash, doesn’t Compensate Victims! appeared first on Coinpedia Fintech News
Coinbase, the largest U.S. exchange, has reportedly made a profit of around $1 million due to the recent Ethereum price crash. Market participants and observers have said that Coinbase is sitting on this inadvertent windfall and has not surrendered it to the victims. It is not currently obligated to do so. The incident occurred due to a bug in Ethereum’s network and led to a temporary crash in the cryptocurrency’s price. Coinbase stopped trading for a few minutes during the incident and has since resumed normal operations. The incident highlights the need for exchanges to have proper risk management systems in place to avoid such situations in the future.
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