Bitrue says technical glitch impacted XRP orders on its system – causing mass liquidations

Singapore-based cryptocurrency speech Bitrue said it experienced a method glitch that affected XRP orders connected its strategy connected April 26.

According to the crypto exchange, the issues occurred betwixt 07:15 to 07:16 (UTC), starring to orders for XRP/USDT with incorrect prices and quantities.

XRP flash crashes to 0

Several crypto assemblage members pointed out that the glitch led to a flash clang of the apical cryptocurrency to $0.

According to XRP’s terms illustration screenshots shared connected Twitter, assorted users who held agelong positions connected the assets were liquidated. At the time, galore wondered if a glitch caused the issues oregon if the level was manipulated.

Meanwhile, the exchange’s users noted further that traders couldn’t profit arsenic nary bargain orders were executed.

Bitrue to refund impacted users

The crypto speech has promised to reverse the positions held by its users during the glitch period.

According to the platform, losses of users whose positions were liquidated would be nullified, and their borderline magnitude would beryllium refunded to their accounts.

Bitrue added:

“The colony terms of XRP volition beryllium marked astatine 0.4696 (taken astatine 07:15 UTC time).”

Meanwhile, the incidence had minimal interaction connected XRP’s terms arsenic the broader marketplace experienced heavy volatility. According to CryptoSlate data, XRP is down 3.1% and is trading for $0.45741 arsenic of property time.

The station Bitrue says method glitch impacted XRP orders connected its strategy – causing wide liquidations appeared archetypal connected CryptoSlate.