Bitcoin Forum

I've been using Kucoin to trade NEBLIO a few days now. Since last night it seems they have started faking trades to push the price/volume up.

Don't believe me? Try this..

Goto NEBL/ETH on Kucoin
Put in a buy order of 1 higher than the top buy order, eg if top buy order is 0.013117 you put yours at 0.013118
Within a minute there will be two trades completed 1 higher than yours at 0.013119, one will be double figures like 45nebls worth and one triple figures like 110 Nebls worth

The completed trades seem completely fake and always follow the same pattern. Don't worry your trade shouldn't go through as there will be no real buyers for yours.

could be a bot trading?

No bot trading as the buys are always .1 above the top bidder and always within a minute of top bid. For a bot to trade there must be a seller, there isn't.

I don't think its a scam but I've witnessed that as well on KNC

I like the exchange but this is very annoying like a cat and mouse game, have something wanted to buy this morning and it keeps making a buy wall right above my buy,  i will never over pay for any alt shit coin so this might not be the right exchange for me.

Yes, I also noticed this at NEO/ETH.
Looks like they want to increase the volume.

I tried trading RPX on Kucoin and haven't noticed anything suspicious. Yes, sometimes people set the higher of lower price by 1 decimal just to be in front of others, if they wan't to sell/buy their tokens ASAP. And even if you see unusual trading on some pares is doesn't mean that this exchange is a SCAM.

I think what he is referring too are "fake" transaction which happen to be the minimum decimal above the asking or bidding price. I think they want to increase volume as it doesn't happen with RPX but does with KNC which has super low volume.

If it's not a robot transaction, I think the big probability is that the exchange's artificial data falsification, maliciously pull high altcoin price.
To be honest, this kind of approach has been a problem for almost two or more exchanges, but the evidence is hard to come by.But you have to be careful.

I think they just want to sell their coins as fast as possible

What happens is in the transaction log, a sale or buy will be listed at 0.0001 above the bidding or asking price. Problem is it was NEVER in the book order... I've witnessed it way to many times for it to be a coincidence.

Kucoin for me actually new to me and I never use it this time, but there is one I heard that one of the successfull ICO which is Utrust is listed on this site platform. Which means, I think its not a scam. its not because its new exchange in this industry it is already scam, perhaps its not like that.

For a new exchange, the use of tricks is easy to understand. You should not be so negative about this, they just want to attract the attention of traders, investors. They need to grow

Yeah, they are still small. Biggest trading volume that i sow was around 70 BTC. Compare to the others that is small. They give nice bonuses every day so I do not mind if they want some attention.

Lol this is just a bot, watch NEBL on cryptopia, it is the same there too.

Actually i hate it but theres nothing i can do

bot trading ) not a scam )

This happens normally on Poloniex. It's a bot setting I think.

Kucoin has a lot of machine lists on it, and they will automatically swipe the volume, and you need to be aware that this is not a reliable platform

This is what came in my mind. I have seen it happen when I was selling BTC for usdt. lol. definitely no scam here I have seen it happen on every website I've used.

Isn't just a bot? There's a lot of bot in exchanges and there must be some in kucoin aswell. Although kucoin is still new but someone can make a trading bot for it and make trades like the one you've described, i've seen plenty of it on other exchange like bittrex or hitbtc so it's nothing new.

it must be a trade bot. they just put limit to the trade so everytime new trade higher than theirs was put, bot open a new orders.
it is common on some exchange

I dont think it is a scam but kucoin exchange platform is extremely hard to understand. Not user friendly at all. I tried to understand how to deposit some bitcoin. I spent a few minutes to find the link for it. So useless...

I noticed it yesterday on prl/btc, this worries me as I have more than few prl on kucoin xchange :(
   

I am a user as well of Kucoin exchange, but I have not noticed the issues you are speaking of, but has given me the idea to keep an eye on this.

Last days I've noticed indiscriminate use of bots especially on markets sponsored by the kucoin carnival DENT, UTK, TFL, etc... when volume in a market is not so big it can be very annoying.

Nah, I don't think they are a scam, though they may be doing it to artificially increase the volume just to attract more users to the platform.

I'm not listed on Kucoin Exchange. But I'm going to do it in the near future. As well as you will watch this. This new coin is Kucoin shares. I am very attracted to the opportunity to receive part of the transactions. I've never seen anything like this on the stock exchanges.

I am not so sure but as of coin market cap they have figures to present. Maybe on some other projects or maybe someone or other companies or people used their name for any other projects for scamming. Looks likes it's good. Maybe a bot perhaps. I am not so sure. I'll update here once I will have some little more information and research on kucoin.

Are you new to trading? It seems to me that you are quite not familiar with how trading platforms work. I have been trading in several exchanges and there are always robots or bots playing with you there. That is normal. Bots will not allow you to be on top. They will either lessen or increase their bid or ask prices by either one or two Sats. Do not mind all these bots. If you compete with them, you might end up losing so just name your price, proceed with your order and leave it. Actually, it also depends on the coin.

Kucoin is developing very fast. I doubt that it scams , please don't say scam so fast from your mouth !

Please believe me kucoin is the people's exchange, the exchange token kcs rose 30x within three months now binance has closed new user registration, kucoin is currently very good choice

That's regular bot trading. And actually there is a good trick against it. If you want to buy, just put out a small sell order, the minimum it takes to move the sell orders down. That way I got the sell orders to move down by 2-3% and got my position way below market price. And vice versa with selling. These bots seem to be quite naive and easy to troll.

Instead of complaining there is always point to try to find a solution.

Can be a selling bot and such things are not new to exchanges. I've too used Kucoin a lot in recent months and I didn't find any things creepy from the site side.
Yobit for example lets bot to trade way below minimum amount.

   
  
I like the exchange but this is very annoying like a cat and mouse game, have something wanted to buy this morning and it keeps making a buy wall right above my buy,  i will never over pay for any alt shit coin so this might not be the right exchange for me.

You need to take time to study Kucoin exchange because there might be something you did understand with their system. I think it's too early to raise the scam alert.

However, I don't believe this to be the case. The team is solid and consist of people with solid backgrounds. The CEO has a background from Alibaba, and other Large china based IT companies. The same can be said for many of their staff. They are responsive on Telegram and the CEO himself answers questions on Reddit.

The goal of Kucoin Exchange is to be in the Top 10 Exchanges by June 2019.
In November they plan to release an IOS and Andriod version of their trading platform.
By December they plan to have over 50 cryptocurreny pairs listed.
At the rate they have been listing new tokens, this seems to be an achievable goal.
There are 200 Million KCS tokens, where 100 Million are publicy traded while the other 100 Million is held by them.
Those held by them are mostly locked in which aligns their interest for the long term.

Of course, there is a possibility of scam, but my opinion is that there is a situation originating from trade bots.

I use Kucoin regularly almost everyday I didn't have any issues so far, maybe you are just unlucky if you try to contact support maybe they will try to help you

I had an issue with a withdrawal. the Kucoin website told me that they have been successful to send the tokens to my wallet but the block chain said no. eventually i got through support and they have resend the transaction. all good now.

Kucoin and other exchanges have a serious problem: the problem of false trading volume.
These exchanges treat us as fools, and when we hang up a sales order, they immediately have a sale price below us, which sounds very funny.

Not giving dividends for owning Kucoin ---> not honoring referral contracts ---> freezing withdrawals ---> lying ---> cheating ---> but it might not be a scam so keep retweeting for your chance to win a brand new Porche!  This exchange is scammy as hell! BEWARE OF KUCOIN!

I know Kucoin has been focusing elsewhere so they have been running a little behind in their rewards.  I've seen the rewards are coming a couple days late.  They've been trying to distance themselves from Kubi.  They tweeted about it earlier today.

I never used Kucoin before. But it seems normal to me. That is how trading platform works. But that issue wouldn't happen if you trade in some dex exchanges.

This is a very normal phenomenon, because other exchanges have similar brush volume problem, although it will hinder us to judge altcoin prices, but does not affect our tokens are sold, we can only be sold at a low price.

Im using KuCoin as my secondary exchange,i can confirm its not a scam,it might be a new exchange but its getting more popular  and is growing massively everyday,maybe you just had a bad day,most of the big players usually uses these trading bots,you will find these bots in exchanges like bittrex but i doubt if there is already a bot to a new exchange like KuCoin.

KuCoin maybe new but its growing massively everydau ive been using it for about 3months and i dont faced any problem with it.

Thanks for the information but I dont think it is only about kucoin. similar situation happens in most of the major exchanges. They manipulate the prices and tradings by bots. It is a very known fact.

This is true, i heard about that they are manipulating all the coins that are on there, that is the main reason of why those coins who are in there are the only ones who are not increasing.

They are manipulated, and they are in compliance with all the shitty exchanges of Japan.

Thank you for sharing, although Kucoin has the problem of false trading volume, but other exchanges have similar problems.
Even as Binance Hitbtc such exchanges, I also often can see a false trade order, this can lead to our errors in judgment, so I think there may be rules to limit their future. ;D

This has already happened to me, but everything went well and I was able to get ETH, but for some reason I forgot about it and today again sent a coin there. The transaction has already received more than 2000 confirmations, but the coin did not arrive at the balance sheet. The tech-support writes about the heavy load on the system and promises to fix everything in a few hours.

im using kucoin for trading because bittrex dont accept newbies for the past month, thats why i dicided to use kucoin for now, so far i dont have any problem with kucoin, and hoping everything gonna be ok. :)

I've used KuCoin many times and never had a problem with it.

my coin withdraw from unknown ip address. almost 0.1 btc coin been stolen.don't know how can it possible had api also google 2fa still i didn't knew they stolen my coin i see it in withdraw support team didn't help  a lot's even they were busy for normal talk and all. must say really worst experience ever from kucoin now really doubt about their security. i think their security been compromise.

I have seen that on bittrex, binance and poloniex too... bot's are everywhere, get use to it...
even if they do this on purporse, that doesn't count, because the price will still be about the same, even if they do that.

most exchanges are like this, they use robot to trade which will increase the trading volume, its very common since if there are no robots, the real volume will be very low and the data will be very terrible

I know that such trading bots exist and usually bring benefits. But I still do not understand how to use them.

this exchange is too large and serious. It can not be a scam in any way. A variety of bugs are also on exchanges. (not just your case)

I can not withdraw money from there today. The whole day they say that technical problems     :-\

No man I don't think so. I haven't try this yet. One of my friend doing trading from this exchange. He doesn't face any difficulties from here. Also he suggest me to use this exchange. So I am going to use this.

Obviously, this is a strategy of exchanges they are manipulating the market even using the bot or their personnel for people to get some fees and make the trading goes on. Ive seen this before on poloniex, bittrex and other big exchanges.