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

Article Reading Time:
1 min.

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

Yesterday, April 26, the price of BTC fell by 7% in less than an hour, from $29,800 to $27,780.Some experts attribute this to the Arkham notification, which reported the movement of BTC from US government wallets and MtGox.Soon after, Arkham posted a message apologizing for spreading fake information and pointing out a bug in the alert mechanism.

"Today, we have fixed a bug related to Bitcoin alerts.users and is not related to tags created by Arkham.We understand the impact that canprovide alerts, and we recommend that users double-check and confirm information on the network before taking any action with the information," the service said.

Arkham said that there was no way they could bring down the rate, since bitcoin fell between 19:17 and 20:01 UTC, while a message fromThe first user to notice the error was posted at 20:07 UTC.

MtGox was once the world's largest marketplace in terms of bitcoin sales volume, accounting for about 90% of the first cryptocurrency's total trading volume.In April 2014, the exchange filed for liquidation due to the loss of 850,000 BTC due to a hacker attack.The bankruptcy procedure of the exchange is still ongoing.

Recently, MtGox reported that the deadline for filing claims for damages has passed.Now the company's customers who have completed applications on time are promised to start payments.