Dogecoin Developer Issues Critical Bitpanda Warning
Release: 2024/07/17 21:30 Reading: 393
Headline: Misaligned Leverage Pairs on Bitpanda Raise Concerns
Body:
Top Dogecoin developer Mishaboar has alerted users of Bitpanda about discrepancies in leveraged pairs on the platform.
Following a post from another user highlighting the issue, Mishaboar indicated that leverage causes, including DOGE pairs, may be underperforming due to problems with Bitpanda.
"If you are playing with leverage on @Bitpanda, there is an ongoing issue with a misalignment between some of their leveraged pairs and the underlying assets' performance." - Mishaboar
Explanations reveal a mismatch on the platform. For instance, Dogecoin's real asset volatility is 20%, while Bitpanda's 2x trade offer is at 70%. Though Bitpanda has disabled the leveraged token, concerns remain about potential losses for users who liquidated due to the incident.
Trading resumed without addressing the issue or notifying users of potential challenges. However, U.Today observed a response from Bitpanda acknowledging the issue and working on a solution.
"We are aware of this issue and our team is doing all they can to fix it as soon as possible. Potential financial losses caused by this incident will be reimbursed by Bitpanda." - Bitpanda
Past incidents, such as a notable transfer of assets in 2023, highlight the need for proactive measures by Bitpanda. Tech experts emphasize that the platform should promptly address issues like the leveraged pairs to prevent user concerns and minimize the impact of such events.
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