As much as cryptocurrencies like Bitcoin might have an inherent volatility that encourages investors to jump on great opportunities, exchange bugs aren’t one of them. In the case of Japan’s Zaif exchange accidentally setting Bitcoin prices to $0, one enterprising investor attempted to pull out 2,200 trillion yen from the service, or around $20 trillion.
The bug in question meant that the government registered Zaif exchange had a 20-minute window last week whereby Bitcoin prices were locked at $0 for all purchases. Unsurprisingly, many customers took advantage of this flaw and tried to buy up mountains of the scarce digital commodity, only to try and resell it later for an enormous profit. Nobody was quite as ambitious as one customer though, who attempted to profit more than 100 times that of Bitcoin’s entire global market value.
Read about the Bitcoin exchange bug which saw a null trade of $20 trillion on Reuters.