I immediately contacted my COO, who briefed me on the situation and initiated our crisis response procedures. We have a response mechanism called a P-1 event to handle the most serious crises. We run drills every month to simulate various major events that might occur.

There is no event like this. Previous P-1 events may be website downtime, trading matching engine failure, which prevents users from trading derivatives, or withdrawal system failure to respond for a short period of time. According to our definition, any functional failure that affects more than 10,000 customers or causes losses of more than $1 million is classified as a P-1 event.