This exchange takes the cake for the most shady thing in crypto right now.Just have a look at the volume that is being traded here:http://bit.ly/2R5YKib says Monero volume alone is : $719,292,189On CMC, Monero's actual day volume is only $11.5 m. Its incredible that one exchange can claim to have 60 times Monero's entire volume on every other exchange. Infact BitHumb's trading volume is close to Monero's market cap is $774,083,587Looking at the order book, its entirely wash traded, same order quantity same price : http://bit.ly/2BQYnhd last week another Korean exchange UpBit employees were indicted in a court for wash trading: http://bit.ly/2R3YKPU allegedly made bogus crypto orders worth approximately $226 billion and sold 11,550 BTC to around 26,000 investors. Upbit has denied the charges and insisted that it did not commit fraud, engage in wash trades, or trade cryptocurrencies it did not own.This is the same shit that BitHumb is pulling, except it has moved from Korea to Singapore now in order to run from Korean authorities.As long as scummy exchanges like this exist, crypto will never be considered as a legitimate asset class. You can bid any ETF chances goodbye, the SEC is always going to point out jokes like this and if they dont, they will be in trouble for allowing ETFs when there are large scale scams that are being unashamedly perpetrated without any consequences.Detailed report on this scam can be read here: http://bit.ly/2BSWIHM
Submitted January 01, 2019 at 04:16PM
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