If everything was operating properly why was it impossible for me, and many others to access our accounts while this event took place?
The GDAX website was completely unresponsive from the time this sell took place, to the time the price of etherium had returned to normal.
3.1 All Fills are final and will not be reversed unless:
b. DUE TO A SERIOUS TECHNICAL ERROR, Orders or Fills do not occur as specified in these Rules — in which case Coinbase will make all reasonable efforts to restore all Traders to the position they would have been in had the error not occurred
Being logged out of one’s account and unable to access it as trades execute is a very serious technical error.
This was obviously an event unforeseen event by Coinbase, but it is precisely why insurance exists, and why GDAX was selected by many customers as their preferred trading platform.
Please help, do the right thing, and at least restore the coins at average or current market value for the day, minus the margin at that value, to your customers.