Coinbase users hurt by GYEN, POWR glitch demand refunds - CNBC

A number of disgruntled Coinbase (COIN +0.1%) users have started an online campaign to demand refunds of their losses after a technical glitch froze their accounts for weeks, CNBC reports. The cryptocurrency exchange told customers that it experienced technical issues in the trading of two cryptocurrencies in mid-November. The issue arose when the platform allowed customers to buy GYEN (GYEN-USD), a stablecoin pegged to the value of one Japanese yen. POWR (POWR-USD), a crypto designed to be used in energy trading, also got caught up in the snafu. Now many customers are accusing Coinbase (NASDAQ:COIN) of locking them out of their accounts and improperly taking their funds. Although classified as a stablecoin — a crypto asset that's meant to be pegged to a fiat currency — GYEN's price became unmoored from the yen, jumping as high as 0.065643, according to Chainanalysis. That's about 7.5 times higher than the fiat equivalent