CoinMarketCap crash: everyone became millionaires for an hour

Brief:

  • On CoinMarketCap at night API crashed
  • The aggregator displayed all prices overpriced by millions of times
  • We have collected the most striking user reactions

CoinMarketCap crashed, due to which the popular aggregator showed space rates of cryptocurrencies and tokens. For example, bitcoin for $ 1024 billion, ether for $ 22 billion and dogcoin for $ 2 billion

As a reminder, CoinMarketCap is the leading digital currency tracking aggregator. Its visitors monitor in real time the current rate, capitalization level and other important parameters. Failures are extremely rare, and this is one of the largest.

Representatives of the company have already apologized for the inconvenience:

Following the irregularities we observed on our platform this afternoon, despite the issue having been fixed, we will be rebooting our servers as a final step in accordance with our internal remediation plan. Apologies for the inconvenience.

– CoinMarketCap (@CoinMarketCap) December 20, 20300

“How is it: to become a millionaire for an hour?”

Twitter users are already joking about this situation and come up with memes.

Here are the most interesting comments:

“I quit my job and bought a lamborghini”

“How does it feel to feel like a trillionaire on hour?”

“I’m still a millionaire in my head”

“Now back to reality”

But not everyone was having fun. Some are outraged that due to the CoinMarketCap bug, they were having problems with TrustWallet. Bloomberg reported that Coinbase users were also experiencing this.

Some DeFi protocols also use CoinMarketCap as a source of price data, so they had to suspend transactions. DeFiChain already wrote about this:

Due to an error with the @CoinMarketCap API, all DeFiChain Vaults have automatically been halted for now, ensuring the safety of your loans.

– DeFiChain (@defichain) December 10, 2021

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