Bobby Lee claims Chinese exchanges are faking volumes and trades.

[yomofo]

http://www.reddit.com/r/BTCmarketsCirclejerk/comments/1wd6kq/bobby_lee_claims_chinese_exchanges_are_faking/

Bobby Lee, CEO of BTC China, said:

“We’ve known for a while that other Chinese bitcoin exchanges have been faking data. We’ve seen our trading volumes drop off heavily while others have, supposedly, witnessed massive surges.”

http://www.weibo.com/2677915943/AtcIFprg9

[eiskalt]

goxxed huobi style

[MatTheCat]

Front running happens on all exchanges!

The upper echelons of Bitcoin is infested with snakes, sharks, and general crookedness.

Front running in association with bot microtransactions. Best of luck competing at getting in or out against that when the momentum is going against your position.

The 'volume' data on Huobi won't be fake as such, but rather represent coins being passed between favoured accounts in a second tier (or top tier rather) market that normal Joes don't get access to, but tends to drive the price all the same.

I know. I see 'competitors' bids getting filled in front of mine all the time when they really shouldn't be.

[GigaCoin]

yes i've been reading on this, i've been suspecting this. No wonder we never had a proper correction or proper recovery, it's all fake.

[MatTheCat]

yes i've been reading on this, i've been suspecting this. No wonder we never had a proper correction or proper recovery, it's all fake.

Not entirely.

Real people are gaining and real people are losing from this.

'Rigged' through the medium of smoke and mirrors would be a more appropriate way to describe than fake. If I trade BTC between my own accounts and ensure that nobody else can get in on my action, but I can get in on theirs, then that aint fake. That is cheating.

[kooke]

Yeah I've had instances where I set a buy price that was hit but my trade never went through. Something fishy is going on