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Poloniex to repay $18M worth of Bitcoin lost in margin trade flash crash with trading fees

Cryptocurrency exchange Poloniex has announced a new scheme to reimburse users affected by an unexpected “flash crash” that saw 1,800 BTC ($20 million) wiped from its margin trading lending pool in May.

An official blog post promises to return trading fees (in Bitcoin) to impacted lenders until all losses have been repaid.

“Every time you pay a trading fee, we will convert the fee to BTC and then credit you those fees each day. Your first credit will include all the trading fees you have paid since June 6, 2019,” wrote Poloniex.

Poloniex supports peer-to-peer margin trading, a system in which users send their Bitcoin BTC to a “lending pool” so that other users may borrow cryptocurrency to trade…

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