Bitcoin Thread

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I have seen many pump and dump schemes before, even in real time. Cryptopia is notorious for these groups.
Normally 100-300% within a few minutes on some cheap coin for a select few individuals......and quite a few people left holding worthless coins after the sell-off. I have even seen SJW pumped almost 1600% in real time over a period of 5 min......only to get dumped thereafter.

Yesterdays incident seems like nothing more than a pump scheme for VIA........just on a completely different scale altogether...10,000% within a minute or so.

The hack seems to be API related used by trading bots, but the Binance CEO has also confirmed phishing websites on his Twitter. The generation of API's seems to go back to January 2018 sometime. So API keys were being collected for some time now, and yesterday was the culmination of that.

But its good to see that Binance has committed to reverse all irregular trades from yesterday, linked to the hack. There will of course be a good deal of people who will not be refunded on Binance, especially those whose coins may have been sold off but not used to trade VIA. Withdrawals were suspended during the attack, so at least no funds were lost. VIA bought by the hackers prior to the pump is also frozen on Binance, and will be donated to charity.

Where to from here? Only time will tell.
 
3lOH55A said:
Gawd, you app literally stores all crypto icons on the device..
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It does, I need to instruct the gallery to ignore my directory. Only spent a few hours writing it. It needs some more work. If anyone actually used it I'd put in some more effort.
 
gripen5221 said:
Cryptopia is notorious for these groups.
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Lol. They are hardly the only exchange harbouring pump and dump groups. There is no law in the crypto space governing these actions by individuals or groups. In any sense, all centralised exchanges are notorious pumps and dumps. It all depends on the availability, exchange and asset, whether it is orchestrated through bots and or humans.
 
biometrics said:
It does, I need to instruct the gallery to ignore my directory. Only spent a few hours writing it. It needs some more work. If anyone actually used it I'd put in some more effort.
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Well, there are 100s of these apps available. Not sure we need another one :D. At least yours is ad free. I would use it if it included a tab where I could add favourites. Dark theme would be welcome too
 
Can anyone explain these sudden drops or rises? Surely normal trading goes in increments, you can't control all the exchanges at the same time. For some time this has looked like outright fraud to me.
 
*SynergyX* said:
remember this ---> well could be became definitely REKT:crylaugh:

probably go below 9000 tooo....
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my target is still below 9000....came sooooo close.:twisted:

will close my some short positions here and look for entry again
 
biometrics said:
Can anyone explain these sudden drops or rises? Surely normal trading goes in increments, you can't control all the exchanges at the same time. For some time this has looked like outright fraud to me.
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If there is a big drop on one exchange they all fall because people buy it for cheap there and dump everywhere else. So all you need is for one person to sell big on an exchange and it filters through everywhere.

Apparently there's some guy trying to offload $400mill of BTC.

Edit: The process is very automated with big players using bots to do arbitrage as soon as an opportunity arises. Hence all the exchanges seem to drop or shoot up at the same time.
 
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