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Poloniex Loses Millions In Flash Crash

Ramsey Baker

Summary: Margin lenders on Poloniex the cryptocurrency exchange platform lost a staggering $13.5 million on Thursday, according to Cointelegraph. Poloniex experienced a flash crash in the CLAM market, this crash was caused by the lack of liquidity in the CLAM market. The crash caused the reduction of all Bitcoin loans by 16%, Poloniex has since frozen ...

Margin lenders on Poloniex the cryptocurrency exchange platform lost a staggering $13.5 million on Thursday, according to Cointelegraph. Poloniex experienced a flash crash in the CLAM market, this crash was caused by the lack of liquidity in the CLAM market. The crash caused the reduction of all Bitcoin loans by 16%, Poloniex has since frozen all of the defaulted accounts until the loans are repayed.

Author: Ramsey Baker

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