Crypto market got a costly reminder this week of the risks that can emerge when traditional financial assets are traded through crypto-based derivatives.
The episode began in Seoul on Tuesday, when shares of Korean chipmaker SK Hynix suddenly fell 30% below their previous closing price at the start of trading. The sharp move was triggered by what appears to have been a rogue trade in the pre-market session, where a single share changed hands at an unusually low price. Subsequent trades took place at significantly higher levels, but the initial transaction had already created a problem elsewhere.
