BitMEX will pay compensation to customers due to failure

BitMEX, which offers various trading products using leverage for Bitcoin and other cryptocurrencies, automatically closed the positions of some customers when prices for BTC and ETH were rising. This happened as part of a process known as automatically closing risky market positions.

According to the company, the number of affected positions was minimal, while online commentators noted that as of April 2, the amount of funds involved in the situation was already $ 500 million in Bitcoin. Bitcoin rose unexpectedly this week, gaining almost $ 1,000 in one day, and then the price peaked at $ 5,330.

A sudden increase in trading activity took BitMEX by surprise, and now the site leaders promised to pay compensation to each of the approximately 200 affected customers.