It’s so clear that GDAX will be found liable in court:
- Their site down not allowing for positions to be exited or modified.
- Allowing the market to be manipulated in a way it is not intended to take advantage of locked out users creating a 99% drop and 30,000% gain in seconds. Then, not unwinding the trades when they had the full ability to do so. GDAX is a market for an asset. Assets do not drop by 99% and then increase by 30,000% in seconds. That is called gross negligence.
People are lining up for lawsuits: https://goo.gl/forms/BSd8xRqQTHx6PF2B3
Sorry to all people this happened to. They were robbed, clear as day. Will never use GDAX or Coinbase again. For a company who was supposed to be built on trust, they’ve just sealed their coffin. Sad. There only chance at redemption is to unwind these trades.
EDIT: Glad to see that GDAX has offered to replace the ETH that was lost by those impacted. Correct move.