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Crypto-Chaos: CoinMarketCap “Price Issues” Creates Instant-Trillionaires

Courtesy of ZeroHedge View original post here.

Is this what hyperinflation feels like?

For a brief moment this afternoon, the world was full of trillionaires as one of the world's largest cryptocurrency price providers appeared to have been hacked, showing massively inaccurate prices across all tokens.

CoinMarketCap began showing the massive numbers for assets like Bitcoin, which was priced at $789,432,690,634.70, while Ethereum showed up as being worth over $523 billion each.

The website quickly issued a statement to explain it was "undergoing price issues":

Our website is currently undergoing Price Issues

The Engineering team is aware of incorrect price information appearing on https://t.co/3AD93ocjMp.

We are currently investigating and will update this status when we have more information. ???? ????

— CoinMarketCap (@CoinMarketCap) December 14, 2021

The "issues" sent cryptocurrency holders' portfolios soaring explosively higher – with many becoming instant trillionaires…

Or just $400 billionaires…

Many exchanges were affected including Coinbase:

CoinMarketCap appeared to find some humor in it – once their systems were back online:

But we suspect more than a few traders are very upset at what just happened.

One thing to consider for some is how this 'hack' could be a perfect dry-run example of what central bank digital currencies could do one day:  people wake up and their CBDC wallets are up by 1,000,000,000%… but they have to spend the money in the next 30 days… and bread costs $1,000,000 per loaf.


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