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RE: Bitcoin Latina Market Manipulation Caught in the Act

in #bitshares7 years ago (edited)

I saw something similar to this happen on Cryptopia with XRY... XRY is listed solely in Cryptopia. Someone added a bunch of hashing power to XRY's mining operation in order to change the "difficulty" setting - then intentionally dropped off the mining pool. This caused the mining power to drop way down - the currently difficult block took several days for the remaining miners to solve. This effectively caused transfers to and from the exchange to be frozen. Apparently this was orchestrated by a pump group who ran the prices up on the exchange with the reduced effective supply and then dumped into the increasing price action. Be careful of these tactics!

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Wow. That is a creative tactics. Thanks for sharing. I wouldn't have had any idea to watch.

I was a bit shocked when I realized what was happening as well. It is very creative. I suppose that the pumpers already had their own XRY on the exchange...