BitFinex Bitcoin Exchange Experiences Major Margin Limit Accounting Glitch

BitFinex Bitcoin Exchange Experiences Major Margin Limit Accounting Glitch

Starting the evening of Tuesday Feb 5, 2014, the Hong Kong based bitcoin exchange BitFinex experienced a MAJOR Margin Limit Accounting Glitch.

I had about BTC 0.38 in my account (approx $300 USD), and suddenly could trade with a margin of over $130,000!
I was able to make a few small trades before the error was notices, the exchange locked up, and the error was fixed. My outstanding position with over $4000 in ‘overdrawn’ margin was promptly cancelled by morning.

If I ever see this glitch again I will not hesitate to take out a $130,000 position and trade with it.
bitfinex_margin_glitch