As mentioned previously, the events described above are not particularly uncommon to bitcoin markets. With the world’s leading USD exchange trading off from the rest of the market by multiple points with high volume and prints through the visibly tradable book, the need for a robust bitcoin reference rate is once again highlighted. The algorithm underlying the TradeBlock XBX index is uniquely designed to track liquidity while also protecting market participants from these types of events. As shown in the charts below, the XBX index discounted the anomalous trading at Bitfinex in real time, creating the world’s most reliable and tradeable bitcoin spot reference.

https://tradeblock.com/blog/analysis-of-bitfinex-anomalies-and-xbx-performance