1. This only happened on GDAX, an exchange owned by Coinbase. This dip didn't occur anywhere else. Coinbase/GDAX has suspended all ETH/USD trading until further notice and are investigating.

2. According to some on Reddit, it crashed to even lower than $13, some reporting even $0.10. Some were even able to purchase for a double digit USD price on Coinbase, not just GDAX.

3. The market sell order appears to have been for $32 MM.