Arkham gave a false alert about the movement of BTC from MtGox wallets and the US government

Article reading time:
1 min.

Analytical service Arkham reported that it accidentally gave a false alert about the movement of BTC from US government wallets and the now defunct MtGox crypto exchange.

Yesterday, April 26, the price of BTC fell by 7% less thanthan in an hour - from $29,800 to $27,780. Some experts attribute this to the Arkham notification, which reported on the movement of BTC from US government and MtGox wallets. First, the information was picked up by Twitter users. Shortly thereafter, Arkham posted a message apologizing for the spread of fake information and pointing out a bug in the notification mechanism.

"Today we fixed a bug related tobitcoin alerts. This fix will not affect users and is not related to tags created by Arkham. We understand the impact alerts can have and encourage users to double check and verify information online before taking any action on the information,” the service said.

Arkham said they couldn't bring downexchange rate, as bitcoin fell between 19:17 and 20:01 UTC, while the message from the first user who noticed the error was published at 20:07 UTC.

MtGox was once the world's largest marketplacein terms of bitcoin sales - it accounted for about 90% of the total trading volume of the first cryptocurrency. In April 2014, the exchange filed for liquidation due to the loss of 850,000 BTC due to a hacker attack. The bankruptcy proceedings are still ongoing.

Recently, MtGox reported that the deadline for filing claims for damages has expired. Now, the company's customers who submitted their applications on time are promised to start paying.