During the decline in the cryptocurrency market on February 23, the ETH rate on the Kraken exchange fell to $ 700. However, the site said it would partially reimburse users affected by the fall.
Kraken CEO Jesse Powell said the exchange conducted an investigation following the events of February 23rd. It turned out that the trading engine was “processing orders correctly”, and the significant drop in the ETH rate on the platform was due to extremely powerful selling pressure.
However, despite this, Kraken exchange clients who lost funds with such a decrease in the ETH rate will receive partial compensation for losses – from 5% to 50% of the amount of lost funds. Powell wrote on the social network Twitter:
“We will distribute part of our own funds to maintain customer loyalty. Large reimbursements will be considered on an individual basis, and in the case of small losses, reimbursement will take place automatically. The amounts are calculated based on prices on other sites. ”
The CEO of Kraken also urged clients to choose leverage wisely when trading cryptocurrencies to avoid losing funds.
Recall that on February 23, the rate of the first cryptocurrency fell to $ 46,000, and ETH traded at $ 1,400. Subsequently, bitcoin returned above $ 50,000, but then continued to fall and at the time of publication is trading at $ 46,500.
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