Crypto.com unblocks users, reverses glitched LUNA trades

Crypto.com was one of the few crypto exchanges to keep Terra (LUNA) trades open even as Terra’s death spiral saw an unrecoverable price crash of LUNA and stablecoin TerraUSD (UST).

However, a technical glitch on Crypto.com’s mobile application allowed users to get away with a 30-40x profit on LUNA trades momentarily.

Crypto.com then abruptly barred users from trading after an internal tool detected the system quoting incorrect prices for LUNA due to some error.

Kris Marszalek, CEO of Crypto.com, revealed details about a glitch that allowed users to make away with massive profits.

According to Marszalek, users who traded “during those 59 minutes” are eligible for a buyback option at the market price for LUNA tokens, which has since fallen to $0.0004685 at the time of writing.

After a day’s review on the LUNA trade debacle, Marszalek informed that “all user accounts have been re-enabled.”

While Crypto.com reversed the LUNA transactions, the company has offered $10 worth of its in-house token Cronos (CRO) as a goodwill gesture for affected investors.

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