"This is a display issue only and does not impact trading" https://twitter.com/CoinbaseSupport/status/14708761525038039...

Not sure that I agree that it "does not impact trading" since so much trading is done by bots / algorithms these days. Bad data definitely impacts trading.

I think what they mean is that no one can actually sell for these inflated prices, since each trade requires two parties, and no one is buying at these prices.

I wonder if they run a Java stack and were vulnerable to log4j.

And someone was afraid if they steal and sell

Bug in CMC, presumably. Coinbase Pro has it at $48,273. Y!Finance has it at $32,402.18, down 30%, but they source their data from CMC.

The only price that matters is what you personally buy/sell at.

I think were witnissing a major hack/breakdown of the space.

Wouldnt be surprised to see a big crash now.

Seems like hackers found a way to manipulate the rates. Let's see if they found a way to get their ill gotten gains off of the many platforms affected by this.

It has happened before; it's much more likely to be a bug than a hack. No way a glitch like this causes an actual crash.

It's now at $1T

Dont use CMC. Coingecko is more reliable.