The cryptocurrency futures and options exchange, Deribit, will pay back the losses suffered by the traders due to a mistaken calculation of BTC price on the platform. In a tweet on November 1, Deribit accepted the erroneous data, where it listed $7,700 as the bitcoin trading price.
The exchange confirmed the repayment, stating, “Deribit will reimburse over $1.3 million in losses from the BTC index calculation data issue around 21:00:00 UTC on October 31, 2019.” It further informed that the exchange will compensate the funds by itself, and the Deribit Insurance fund will remain unused for this purpose.
The misinformation surfaced the platform on Thursday, which eventually caused the traders to pay a lower price for BTC/USD sells, resulting in a loss of $1.3 million of the traders.
