The price of the virtual currency "Ethereum", which has been starring in recent months as the rival of Big Brother and the more famous, Bitcoin, crashed in about two hours from $ 319 to 10 cents in GDAX exchange on Wednesday when the fall was accused of receiving Million dollars worth of sales orders.
Adam White, the vice president of GDAX, [posted a blog post](https://blog.gdax.com/eth-usd-trading-update-5d8142b5bdc1) on the site explaining exactly what happened at Wednesday 12:30 pm . According to the announcement, the sale order in the amount of millions of dollars was received in amounts ranging from $ 317.81 to $ 224.48 per currency, leading to a 29.4% fall in the price of the currency.

Afterward, White explains, the fall of the currency led to about 800 selling orders to stop the loss of Ethereum and other selling orders from large entities, which temporarily reduced the currency to **$ 0.10 per currency**. A sale to stop losses is usually automatic once the currency / bond reaches a certain amount in order to avoid further losses, but in this case it forced some users to sell all their currencies for a ridiculous 10 cents because the decline occurred within a second.

Decrease to 10 cents:

![gdax.PNG](https://steemitimages.com/DQmRwHiEP3zyfP1S9Sttay5MRxPWeFjAYfj3UG2M89DrCiV/gdax.PNG)

Many traders criticized  GDAX and even hinted that there may have been illegal activity. "Our initial investigation showed no illegal act or seizure of accounts, and we understand that such an event could be frustrating for our customers," White noted, adding that the investigation is ongoing.

White added that the trade rules were final and nothing would be returned. GDAX has temporarily stopped Etherum trading and now after a few hours the price is back to $314.

Apart from the hundreds and perhaps thousands of users who may have lost thousands of dollars because of automated systems that sold all their currencies for 10 cents, was there a lucky winner? [CNBC reports](http://www.cnbc.com/2017/06/22/ethereum-price-crash-10-cents-gdax-exchange-after-multimillion-dollar-trade.html) that a user named DeMasie has released an unverified screenshot of a trading history showing the purchase of an unknown individual who had just purchased 3,800 spot coins that were theoretically supposed to cost him more than $300 each, but instead the user paid for All currencies only $380! Now, almost a day later, when the price of a single currency has risen to more than $ 300, the user is actually sitting on a pile of more than $ 1 million:
![gdax2.jpg](https://steemitimages.com/DQmSAnFhmwYUMNHxjutek3GCUm8GCHZ6wCQFkWpwCutYBUT/gdax2.jpg)