UPDATE (29th October, 09:38 GMT): LakeBTC has confirmed it has patched its system to stop this problem from happening again.
UPDATE (28th October, 10:00 GMT): Information about a second data error lasting seven minutes on 27th October was added.
The CoinDesk BPI spiked this weekend due to an error in the data reported by the LakeBTC exchange.
From 09:18 UTC to 12:24 UTC on 26th October, LakeBTC’s price ticker reported a bid value of $1,000. Immediately prior to this, the value was $351.34.
A LakeBTC data caching issue caused its price ticker to show an erroneous, high, bid value.“We thought it was the trades but the trade history looked fine. Product support reviewed all the logs and cache for that time period and found it was a rare data caching issue,” said a spokesperson from LakeBTC.
LakeBTC said the ticker was showing the wrong numbers and that the order book and trading history were not affected. It said it is working on a patch to prevent this from happening again.
CoinDesk OHLC chart still shows erroneous LakeBTC data. This will be fixed once LakeBTC supplies the correct data for the relevant period.
CoinDesk has recalculated the BPI’s price between 09:18 and 12:24 to exclude data from LakeBTC. The OHLC chart, however, still reflects LakeBTC’s erroneous data.
CoinDesk has contacted LakeBTC about obtaining the data for the affected period, but the exchange has said that its historical bid data is “not available”. As a result, we have taken the step of using the last accurate bid across the affected time period in the OHLC chart. The price chart continues to exclude LakeBTC data over the affected period.
A second data error of the same nature took place on 27th October between 19:23 and 19:30 UTC. LakeBTC showed a bid value of $1,000 for that period. We have taken the same steps as above to rectify the data on our OHLC chart, taking the last accurate bid value across the affected time period. The price chart also excludes LakeBTC data over the affected period.