A false alert allegedly sent Bitcoin crashing 8%, wiping out $1.3 billion in open interest
The company revealed that DB, a popular crypto news account on Twitter, had set two alerts on all Bitcoin transactions above $10,000 USD with no counterparties set, and then named the alerts"Mt. Gox" and"US Gov."Was the alert to blame?
Arkham claimed that neither the alert nor the tweet could have caused the sharp Bitcoin price drop, as the drop occurred between 19:17 and 20:01 UTC, and the alerts and tweet were sent afterward at 20:07 UTC and 20:08 UTC, respectively.The connection between the false alert and the Bitcoin crash remains unclear, but the timing suggests a possible correlation.
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