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Philippine Crypto Exchange Demands Users Return Bitcoin Bought at $6,000 Following System Error – Exchanges Bitcoin News

Philippin e crypto exchange Pdax recently suffered a costly technical failure – one that led to bitcoin trading at 300,000 Philippine pesos (around $6,000) – a discount of 88% to its current price. In the melee, some users managed to buy at these ridiculously low prices and quickly moved the bitcoin (BTC) away from their exchange wallets before the error was detected, local news outlet Bitpinas reported. The actual amount of BTC hoarded at the $6,000 give-away price is not clear. However, the Philippine Digital Asset Exchange, or Pdax, is now demanding that users return the bitcoin or face legal action. The exchange has since locked out several of its clients from their accounts for this reason. But the traders are having none of it.

PDAX 2% asks: What do you mean by unfunded transactions?

Published February 26, 2021, 9:42 AM During my interview with Philippine Digital Asset Exchange (PDAX) CEO Nichel O. Gaba last Saturday, he promised that all users will gain access back to the exchange by Monday, 22 February 2021. As of Wednesday, 24 February 2021 10:00 AM more than a week since the prolonged outage of the exchange there are still 225 affected accounts that are still locked out of PDAX, according to an advisory sent to users. The controversial cryptocurrency exchange cites “complicated transactions” and “extensive reconciliation process” as the reason why some users are still unable to use their funds and assets. Quite a number of their clients (more or less 2% of its total userbase) are still asking when will they finally regain access to their accounts more than a week after the so-called system glitch? Some of these users feel that PDAX is taking their accounts hostage as some of them being asked to transfer the cryptocurrencies that they hold to a w

PDAX resumes operations and scales up amidst global surge

PDAX resumes operations and scales up amidst global surge
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