Many crypto trading platforms provide exposure to futures contracts. Not all of these companies have a foolproof system, however.
In the case of Kraken, it would appear that a minor order execution bug has been discovered.
A big Kraken bug With Major Consequences
More specifically, the Kraken Futures trade value and executed value are not always alike.
That in itself is quite problematic for many different reasons.
Luckily, the Kraken team is aware of the problem and will attempt to fix it accordingly.
The website appears to contain a bug where order values are not updated after switching between the supported currencies.
As such, a small order for Litecoin would suddenly be a higher-value transfer for Bitcoin.
Given how Kraken is a very popular platform in the cryptocurrency space, issues like these should never be present in the first place.
The question now becomes how many people may have been affected by it and how the company will handle this issue moving forward.
What makes matters worse is how the bug has been reproduced by users across different market order types.
So far, both stop-sell orders and market orders are subject to this particular bug.
These are all growing pains in the cryptocurrency industry, albeit they can have major consequences when left unchecked.
Overcoming hurdles like these are often a good test for companies and their new products.