Exchange: GDAX
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![2017-06-24_13-54-39.png](https://steemitimages.com/DQmXuUtwaRD28LAXQUNbkLp9FZ4iV6oXayZzL67f3jrs2vN/2017-06-24_13-54-39.png)

Problem: Flash Crash
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![2017-06-24_13-55-48.png](https://steemitimages.com/DQmZZKbTbWbCK7PZKZvSjv2f8RnsuGhuCvrBt8C82paC5JX/2017-06-24_13-55-48.png)


Victims: Ethereum.
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![2017-06-24_13-56-46.png](https://steemitimages.com/DQmWhfrEBvR6agvHiRTUhEr6CcTTqfFxjjaUzjqapGi6hmZ/2017-06-24_13-56-46.png)

When: Wednesday June 21st.


On June 21st something terrible happened. The Exchange known as GDAX suffered a Flash Crash!

Definition of Flash Crash - [an extremely rapid decline in the price of one or more commodities or securities, typically one caused by automated trading.](https://www.google.com/#q=flash+crash+definition)

![2017-06-24_13-47-20.png](https://steemitimages.com/DQmSvRU7GBrNBfDZGRuKJcw3XcbLEndwBnvaiDUTrXbFXuJ/2017-06-24_13-47-20.png)




![2017-06-24_13-44-06.png](https://steemitimages.com/DQmUE6tioE5mrzrEPU62f1TWMETEfHGncjpYKhdpjsSRcW7/2017-06-24_13-44-06.png)


Our Hypothesis is! Someone Dumped on the GDAX Exchange, dropping the price down to 10 cents, but because the other exchanges didn't suffer a dump, the price of Ethereum went back to its normal $300 or so average. Hence a Flash Crash.


Its reported that some Users lost between $3,000.00 USD - $9,000.00 USD during the "Flash Crash." GDAX has said they will return any money lost and see's this as a time to build a stronger reputation with their costumers.

![2017-06-24_14-03-58.png](https://steemitimages.com/DQmYfqjqE3waNSFjmi2d2eKE4STERveGz9d3YHDveCvDGbd/2017-06-24_14-03-58.png) but after this crash, they are twins.




Bitcoin Vs Ethereum
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![2017-06-24_13-49-53.png](https://steemitimages.com/DQmSSpKJCFFdzAqqfkVNLDfZauHhgehPxRZhXW25xzfpium/2017-06-24_13-49-53.png)


 We don't think this will hurt Ethereums overall reputation in the crypto space,but it sure doesn't give it a good look. On a side note Ethereum is going to have its hands full once the almighty [EOS](https://www.cryptoninjas.net/2017/06/23/eos-blockchain-operating-system-unveils-year-long-token-distribution/) comes to full bloom.


What You Should Take Away From This:
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ALWAYS, ALWAYS watch the exchanges and markets like a baby hawk, never trust an exchange completely and keep that hardware wallet handy. The Best keeper of your valuable tokens is YOU!

![2017-06-24_14-02-55.png](https://steemitimages.com/DQmPF9n1VnBf94s7vDCxvKXLDTE1fzSpbaihFXmiZPQvDzj/2017-06-24_14-02-55.png)


This information was Ref from [SOURCE](http://www.cnbc.com/2017/06/24/cryptocurrency-exchange-to-credit-traders-for-ethereum-flash-crash.html)



If any of the above information is wrong, to bad and do your own research. VOTU