NovaExchange.com Market Manipulation.. no deposits allowed

[CryptoWiz420]

Novaexchange.com has announced that they are no longer closing but has not enabled deposits. Withdrawals are enabled..

It has been brought to my attention by a user of this website that market manipulation is very easy. I have just received a screenshot from this user in my email:


So here is the concerning scenario:
Novaexchange admins/employees/whatever can deposit all they would like in theory since they control deposits.
They can pump a market which no one else can deposit to, and then unfairly deposit to ANY market, and dump their coins.
This users seems to have been banned for raising that concern, which further raises red flags... this is the type of action that happened at many exchanges before they closed.
Please discuss.
-The Wizard

(Please note: I have received this screenshot in my email.. I do not chat on novaexchange..this is not my account)

[milly6]

oh shit....

[Potato Chips]

I don't remember when was the last time I used their exchange but you shouldn't believe anything that a random user says over the internet particularly when it's in trollboxes because most people there are either spreading FUD/hypes or just a plain butthurt  . Furthermore, the screenshot he provided doesn't really prove anything  I'm guessing he's mass sending the mails to random users because he's upset about something.

[CryptoWiz420]

i should clarify that it is someone ive spoken to before in cryptoland so it wasnt exactly random. The message was worded as a warning in my opinion so i just thouhght i would share it for discussion. Not saying its true or false just presenting a users perspective. He does seem upset but id prefer to take a objective approach because of amount of fud about exchanges in general. Who knows?

I don't remember when was the last time I used their exchange but you shouldn't believe anything that a random user says over the internet particularly when it's in trollboxes because most people there are either spreading FUD/hypes or just a plain butthurt  . Furthermore, the screenshot he provided doesn't really prove anything   I'm guessing he's mass sending the mails to random users because he's upset about something.

[milly6]

Novaexchange.com has announced that they are no longer closing but has not enabled deposits. Withdrawals are enabled..

It has been brought to my attention by a user of this website that market manipulation is very easy. I have just received a screenshot from this user in my email:



So here is the concerning scenario:
Novaexchange admins/employees/whatever can deposit all they would like in theory since they control deposits.
They can pump a market which no one else can deposit to, and then unfairly deposit to ANY market, and dump their coins.
This users seems to have been banned for raising that concern, which further raises red flags... this is the type of action that happened at many exchanges before they closed.
Please discuss.
-The Wizard

(Please note: I have received this screenshot in my email.. I do not chat on novaexchange..this is not my account)

yea it seems pretty clear to see that this user was banned for fud. I would have done the same thing. Mod had reasonable responses.