Bitcoin Latina Market Manipulation Caught in the Act
Don't try this at home.
Tonight someone with control of the Bitcoin Latina BCL token pulled a fast one. Here's a few screenshots from a BitShares wallet browser I found posted in one of the telegram chatrooms:
These operations unfroze the BCL markets someone with such powers had frozen days earlier for three minutes, during which the following operations quickly took place:
Then the markets were frozen again leaving the following result - a sudden new market price of $10 for BCL.
Note how the transactions moved the market price up to $10 and the telltale letters in red, "The Owner of BCL has disabled trading in this market."
Wow! If it were only that easy.
Anyhow, He Who Shall Not Be Named (I'll call him Scorpion) is running around accusing Jared Rice of market manipulation because he bought and sold a few of the BCL that Scorpion donated for the purpose of buying food and paying his rent. That's before Scorpion stole them back right out from under the SEC's nose in a classic case of Grand Theft Crypto.
So now the market price of BCL is nicely back up to $10 where it belongs.
You can't make this stuff up.
EPILOGUE
Here's the explanation/confession that apparently just got posted by BCL founder Gotts
And here is John Gotts "buying ahead of the news" as "Satoshi Wagyu"...
The Fox and the Scorpion
BRAVO!... @stan The Scorpion gaveth, and the Scorpion tooketh away... why would anyone "in their right mind" ever buy anymore BitcoinLantina? And is there any hope of EOS not allowing Scorpion into their community?
...you change like the wind, Scorpion!
@stan... how can we share some of our coins from our Bitshares exchange wallet with our brother Jared? It would be fantastic for the community to help him.
defendtheblockchain.com is coming soon.
Oh! So when there is a "two for one" sale at heavily inflated price, it's NOT manipulation. Is that the take-away? Accompanied by accusations of "FUD" directed at myself and a few other fine folks.
Gee I wish I didn't care. And if memory don't betray me, the wiz kid had the answers to life and universe itself.
It's a dirty game you're playing here.
Matthew 5:39
All this BS is making me want to just pull out of BitShares and forget about it. It's a shame.
Third time's the charm, right? I believe the quint is up next. I'll hold off on that one too, just to be sure.
isnt this an issue with an asset on top of bitshares, rather than an issue with bitshares itself ?
Definitely, but it doesn't help that it's endorsed by 'The Godfather of BitShares'.
True it was unfortunate ! Hopefully it doesn't dent Bitshares profile too much
funkit your breath smells like ass everywhere you go and speak. brush your teeth.
Ah! Real forthcoming today, are we? A real warm Easter spirit. ☀️
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...
Lol....disables it really...looks like man has no guts to stand the odd situations..😁
Just imagine what could have happened for 60 minutes. Blockchaun techology is dope. It Will xform the way we calculate the value of time but I still believe there is a need to work on the security to reduce risk if attack
What "the owner of BCL HAS DISABLED trading in this market".... This dude got no guts to withstand the ups and downs of the business.......
And well things are not going to good for scorpion
you are right booth.
I also see there are some trades that do manipulation.
sometimes we are too rash to trade
on a forum that we do not yet know the clarity.
this is a matter we must consider.
@upvoted // @Resteem Done Sir @Stan
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What faceless behavior.
I have been holding BCL for possible use as a resident of the Central American region, but this is disappointing. Thank you for bringing this to light @stan. Anyways, moved my BACK out of BTS, hopefully this will be better.
Fraud and theft, a double violation of the non-aggression principle. No sir, scorpion, this will not end well for you.