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Coinbase intends to sue traders from Georgia Coinbase intends to sue traders from Georgia

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Coinbase intends to sue traders from Georgia

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Coinbase, the world’s second largest cryptocurrency trading platform, is about to sue nearly 1,000 users in Georgia for taking advantage of a pricing glitch.

Coinbase intends to sue traders from Georgia

On August 29, about 1,000 Coinbase users from Georgia were able to use an erroneous exchange rate for crypto pairs denominated in Georgian lari (GEL). An error at a third-party provider caused the exchange rate to go up due to a misplaced decimal point for up to seven hours.

Coinbase intends to sue traders from Georgia

More than 900 traders from Georgia began to sell various cryptocurrencies for lari, receiving thousands of dollars in profit.

“At the end of August, prices for cryptocurrencies denominated in the national currency of Georgia were estimated at 290 lari instead of 2.90 lari. The missing decimal point was caused by a “third party technical error,” a spokesperson for Coinbase Blockworks said.

It is worth noting that this group of traders makes up only 0.001% of the users of the American exchange.

According to Coinbase, the failure occurred due to the fault of a “third party”. Thus, the incident illustrates the long-standing concern of financial regulators, who are wary of the risks posed to crypto institutions by external partners.

“When everything is done inside the bank, we know exactly who is responsible when something breaks,” US Comptroller Michael Hsu said last week. However, when the work is split between an institution and a fintech startup with different business models, “that’s when the risk can be lost.”

The amount of money that Coinbase lost due to disruption in Georgia, the exchange refused to disclose, but, according to the representative, is “insignificant.” However, “Coinbase is working with the law firm Gvinadze & Partners to assist in the recovery of improperly deposited funds,” a Coinbase spokesperson said in a written statement to CoinDesk.

Avtandil Kuchava, host of the Georgian TV show Crypto Bazari, told publisher CoinDesk that about 470 people have contacted his team about the situation. In total, people could have made tens of millions of dollars in lari-bad trades, Kuchava calculated, and ATMs in Tbilisi, the Georgian capital, ran out of banknotes that day as traders rushed to cash out their profits.

Traders said at least two major Georgian banks, Bank of Georgia and TBC, froze the accounts of users who took advantage of the outage but then unfrozen them.

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No AMOLED, only 7.6mm thick and IP54 for about $140. Realme C67 4G is on its way

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No AMOLED only 76mm thick and IP54 for about 140

Realme is preparing to release a budget smartphone Realme C67 4G. Judging by the promotional materials, it will take on thinness and color.

No AMOLED, only 7.6mm thick and IP54 for about $140.  Realme C67 4G is on its way

No AMOLED, only 7.6mm thick and IP54 for about $140.  Realme C67 4G is on its way

The thickness of the smartphone will be only 7.6 mm, which by modern standards is very, very impressive. The advertising color will be bright green.

According to available data, Realme C67 4G will receive a 90 Hz IPS screen with Full HD+ resolution, SoC Snapdragon 685, 8 GB of RAM, 128 or 256 GB of flash memory and a 5000 mAh battery with 33-watt charging. In addition, the new product will be protected from dust and moisture (IP54).

The price is expected to be $135.

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Even the inexpensive Samsung Galaxy A25 will have an AMOLED screen and a camera with optical stabilization

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Even the inexpensive Samsung Galaxy A25 will have an AMOLED

The parameters of the Samsung Galaxy A25 5G smartphone, which should be presented in the foreseeable future, have appeared on the Internet.

Even the inexpensive Samsung Galaxy A25 will have an AMOLED screen and a camera with optical stabilization

The design of the smartphone will not surprise you, although in this case Samsung will try to focus on color options.

The device will have a fairly wide frame, a drop-shaped notch and a triple main camera with a main sensor with a resolution of 50 megapixels. Interestingly, this sensor will have optical stabilization.

Even the inexpensive Samsung Galaxy A25 will have an AMOLED screen and a camera with optical stabilization

The new product will also receive a battery with the usual capacity of 5000 mAh, a 6.5-inch AMOLED screen with Full HD+ resolution, 8/256 GB of memory (probably in the older version), SoC Exynos 1280, and dimensions will be 161 x 76.5 x 8 .3 mm.

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The world’s smallest portable battery with a capacity of 20,000 mAh. Urbn Nano introduced

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The worlds smallest portable battery with a capacity of 20000

Portable batteries with a capacity of 20,000 mAh are usually quite large and heavy. But Urbn has created the smallest battery of this capacity on the market.

The world's smallest portable battery with a capacity of 20,000 mAh.  Urbn Nano introduced

The Nano model has dimensions of 108 x 69 x 28 mm and weighs 293 g. It supports 22.5 W charging and has USB-A ports and a pair of USB-C. It takes five hours to charge the element itself, but in half an hour half the capacity is gained.

The manufacturer talks about 12 protection systems and support for many standards, including PD 3.0, VOOC, Dahs, QC 3.0 and so on.

The world's smallest portable battery with a capacity of 20,000 mAh.  Urbn Nano introduced

The manufacturer also has a Nano model with a capacity of 10,000 mAh and dimensions of 53 x 87 x 30 mm and a weight of 173 g.

The younger model costs $18, and the older one costs $30.

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