Some people who lost money as a result of Ethereum’s flash crash on Wednesday are being made whole, according to a press release sent out Friday by GDAX.
“We will establish a process to credit customer accounts which experienced a margin call or stop loss order executed on the GDAX ETH-USD order book as a direct result of the rapid price movement at 12.30pm PT on June 21, 2017,” the release said.
The release clarified:
- “For customers who had buy orders filled — we are honouring all executed orders and no trades will be reversed.”
- “For affected customers who had margin calls or stop loss orders executed — we are crediting you using company funds.”
Ethereum’s price crashed from $US296 to $US13 around 12:30 p.m. ET time Wednesday on GDAX’s exchange. It recovered those losses in a matter of minutes.
Previously GDAX said it would not be giving impacted customers a refund.
As of Friday afternoon, Ethereum was up about 3,700% in 2017.