Bitcoin plummeted from $63,000 to $8,200 on Thursday at the Binance exchange, recording an incredible 87% plunge in just a few minutes.

According to Bloomberg, the sudden drop in the price of the cryptocurrency was due to a virus that penetrated into an algorithm, so the price is not similar in other exchanges, while in Binance it returned almost immediately to where it was.

“One of our institutional traders told us that they had an error in their trading algorithm, which seems to have caused the sell-off. “We are continuing to look into the incident, but from what we understand they have now corrected their error and the issue seems to have been resolved.”


Mistakes like this occur when, for example, traders confuse the details of the transactions by entering the wrong price or order size.

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