Cryptocurrency exchange Poloniex accidentally introduced a bug that forced it to later roll back 12 minutes of trades. It’s unclear how many users were affected, or how much trading volume was nullified.
To address the inaccuracies created by the bug, Poloniex rolled back a total of 12 minutes of trades, removing orders placed and executed from 17:53 to 18:05 UTC on February 10th. Pending withdrawals were also canceled, and Poloniex warned affected users of the occurrence. It’s unclear how many users were affected by the situation, nor the trading volume that was nullified by the exchange’s move. We will still talk on how Poloniex Rolls Back Trades After Bug.
Remember that last year Poloniex dropped know-your-customer (KYC) checks for accounts deemed “level 1,” which are allowed to withdraw up to $10,000 worth of cryptocurrency per day. The accounts also have access to “unlimited trading and unlimited deposits.”
The cryptocurrency exchange was bought by Circle in February 2018, and left Circle in October 2019 to become an “independent international company” under the name Polo Digital Assets, Ltd.