Why did Google report wrong pice-A simplified explanation for non-tech readers

Google made a mistake in showing wrong exchange rates for the Euro and Dollar against the Polish zloty.

The rates were much higher than usual, causing confusion and speculation. Some thought it was related to political statements or a geopolitical event, but it turned out to be a technical glitch on Google's part.

Poland's Finance Minister clarified that the high zloty rate was due to a data source error, and normalcy would return once Asian markets opened. Indeed, when Asian markets opened, the official euro exchange rate was much lower, proving the error in Google's data.

While Google faced a tough moment, there were consequences. ByBit, a crypto exchange, had an exploit potential due to the data feed error.

Users could deposit USD and sell them at a much higher price than the real market value. ByBit disabled withdrawals and FIAT exchange once they realized the issue.

To prevent such incidents, Oracle projects such as RedStone , which aggregate data from various sources, can be used. RedStone provide a more reliable data flow by relying on multiple data points. For example, RedStone tracks exchange rates across 9 sources and delivers a median value to users, making it difficult to manipulate. Using multiple sourcesincreases security and helps prevent glitches like the one experienced with Google.