The Megabit exchange Monday canceled the two buying orders and promised to compensate investors. However, it did not clarify whether the trading was attributable to either hacking or the breakdown of computer software.
The trouble began just after its formal opening Sunday night when a Bitcoin is sold at 5 won.
Its trading computer accepted the buying orders at 985,000 won for 197,078 Bitcoins, and 338,000 won for 6,768 Bitcoins, respectively.
The orders were unbelievable because one Bitcoin was traded at 6,660,000 won Monday.
Megabit announced that it would cancel the tradings, which occurred due to what it calls illegal trading.
It said it froze the accounts of the investors who allegedly made illegal trading. The exchange would take legal action against the illegal traders.
It would explain to its visitors why the illicit trading took place. It ruled out the exchange did not play any role in the unlawful trading.
