Coinbase is Threatening to Sue Traders for Pricing Glitch

Coinbase ($COIN@US) may sue 1,000 of its users in the Republic of Georgia for taking advantage of a pricing glitch. On August 29th users in the central Asian country took advantage of a temporary pricing glitch when their local currency, the lari, was priced at $290 instead of $2.90 for six hours on Coinbase. For a brief period, Georgian Coinbase users were able to access the funds, and there was a run on ATMs in the capital of Tbilisi. Coinbase did not disclose how much money it lost, but it threatened users who benefited from the glitch that if they didn’t return the funds in full, they would face litigation.