On the evening of August 19th, a forex copy trading platform called SBCFX wiped out a large number of clients' accounts in less than two seconds. From 21:34:47 to 21:34:50 that evening, within a few seconds, many accounts simultaneously opened extremely large short positions in gold. The opening and closing of these positions took only one or two seconds, instantly wiping out the accounts to zero. Some even owed the platform money—an account that deposited $656,000 had a final balance of -$52,177, meaning they lost all their principal and owed the platform over $50,000. This was not ordinary market volatility. Ordinary volatility results in a gradual decline; this was a one-second wipeout.