You are viewing a single comment's thread from:
RE: Bitcoin Latina Market Manipulation Caught in the Act
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!
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...