This is an example of a fraudulent 75 million dollar buy order on Bitmex, it appears it was an attempt to prevent the price collapsing. Price collapsed as order was removed.https://www.youtube.com/watch?v=gR8rPA2Jxm8 …
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Replying to @Bitfinexed
On Bitmex there is no USD or other fiat involved. BTC is not classified as a security. So why bother with KYC on a platform that merely enables gambling with worthless digital tokens? (I don't like Bitmex and I don't think crypto is worthless)
1 reply 0 retweets 0 likes -
Replying to @el_carrretero
Bitcoin is a commodity. Spoofing is illegal on commodities.
1 reply 1 retweet 0 likes -
Replying to @Bitfinexed
Spoofing is indeed illegal, but it happens on every exchange I have visited and is not obvious but to traders that spend their days watching order books. Is there a mechanism that would help prevent this? And when detected, how can you tell who is behind it?
4 replies 0 retweets 0 likes
So if you place a 75 million dollar spoof, then yank it in 30 seconds, you'd pay $150,000 in fees.
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