Author: Mike Hearn 2011-06-28 06:35:59
Published on: 2011-06-28T06:35:59+00:00
On June 27, 2011, Doug Huff posted a message on the Bitcoin-development mailing list regarding a live trade matching bug on Mt. Gox. The bug allowed users to take advantage of the system by withdrawing all USD funds and then placing a buy order large enough to drain their account at a low enough price that it would not execute immediately. They could then wait for the market to fall enough to meet their order. Although there was no guarantee that this order would execute, the new trade matching code gave no reason to believe that it would not. At the very least, this bug could be used to influence market conditions if it was only a display bug. The original poster requested that Mt. Gox take down the site until the bug was corrected or publicly show how the order would never execute. Another member of the Bitcoin-development mailing list asked that they keep the Mt. Gox related discussion off the list as it was not related to the core software. In conclusion, in June 2011, a trade matching bug was discovered on Mt. Gox, which allowed users to take advantage of the system. The original poster requested that the site be taken down until the bug was corrected or publicly addressed. One member of the Bitcoin-development mailing list requested that Mt. Gox related discussions be kept off the list.
Updated on: 2023-05-26T18:43:47.612903+00:00