On Aug 31, 2020, shortly after 10AM UTC, when the WSOT competition countdown reached zero, the Bybit team was made aware of an irregularity in the final rankings of the WSOT BTC Troop Showdown.
Participants of the competition noticed that while the Live Traders Suck troop was shown finishing second in the final rankings immediately after the countdown reached zero, its ranking position slipped to the third moments after.
The Bybit team immediately began an audit of the trading data, one which was finished at 1PM UTC, Sep 1. Our findings show that the final ranking of second and third positions as currently displayed (No.2 Jalapeño, No.3 Live Traders Suck) is correct. The cause of the problem was our oversight of not applying a latency for the final rankings page to account for the delay in data aggregation.
As shown in the data below, Jalapeño narrowly overtook Live Traders Suck just before the buzzer. In the end, Jalapeño won with a razor-thin margin of less than 2‰ — 497.68% to the 496.70% of Live Traders Suck — at 10AM UTC sharp. Due to a $10 plunge in the BTC price in the minute following 10AM UTC, the result became even more pronounced after a slight delay in tallying the numbers. The results on the competition page had a 10-minute refresh rate, and failed to capture the change in real-time. The final rankings page, however, came online immediately after the countdown had expired, using the (9:50AM UTC) data available at 10AM UTC, and listed Live Traders Suck ahead of Jalapeño, before correcting itself moments after when the latest data came in.
We are truly sorry for the mishap, and would like to extend our apology to all participants and spectators of WSOT. While it was an honest mistake, it is unfortunate that the terrible timing caused disappointment and distress to our valued users. We will work to prevent similar mistakes from happening in the future.
Again we appreciate your patience and kind understanding, and apologize for the inconvenience caused.
Bybit has always prioritized the optimal trading experience of our traders. Should you have further queries, please reach out to us via our online live chat at https://bit.ly/2QNjZ8i or send an email to us at firstname.lastname@example.org.