Did BitMEX Cause the Bitcoin Crash of March 13? Hayes did adhere to the above concern in a footnote in his letter. But somehow the response feels less than sincere. He simply said: We operate a fair and efficient platform. Trading downtime degrades the experience for all customers and reduces our stature in the market. It would be against our own interests to fabricate downtime. However, he did note the fact that many users were demanding to know more about how liquidations interact with the insurance fund, “especially in this very demanding scenario.”
No comment on why/how you made money with the insurance fund… — Downstream Trader (@Trader564) March 17, 2020
They’ll have to wait a bit longer for BitMEX to get its story straight. It seems the team is still formulating its response: In the coming days, we will publish a series of posts about what went wrong Hayes was pretty widely heckled on his Twitter feed as you might expect. Many traders congratulated the scriptwriter for the convincing tale, while others insisted that greater explanations were needed: Good story, who wrote the script? Completely throw away responsibility of making users who in position cannot click any button to exit only to wait being rekt Did BitMEX cause the crash? Not according to Mr. Hayes. But, we’ll be bringing you the latest updates as the team cobbles them together. DDoS attacks are starting to feel like the crypto equivalent of “the dog ate my homework.” Maybe next time, we’ll get a more creative excuse. Do you think its fair only 156 traders were compensated for their losses? Add your thoughts below!
Images via EthereumWorldNews, Twitter @BitMEXdotcom @SeattleHeckler
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