POLONIEX conspicuously appears to engage in "Insider Trading"

[Hypocritus]

Hi everyone. I felt the need to inform people about what I believe I have seen. So, as my first post:

The cryptocurrency exchange poloniex.com conspicuously appears to engage in "insider trading". This can be verified very easily without an account on Poloniex' own site poloniex.com, simply by looking at each cryptocoin's public zoom-able chart, but only until Poloniex removes them, which may happen on May 2, 2017. The following post by a Poloniex user seems to adequately sum up what happened:


"You have also de-listed several coins without any prior communication to the developers, community, or anyone outside of Poloniex. Yet inside employees and/or acquaintances were allowed -- very conspicuously and to an absurd degree -- to pump up the vast majority of these prices beginning a few weeks before the announcement. And at the very moment of the announcement, suddenly that very same "minute", ghost people with vast holdings in all of the de-listed coins appeared out of literal thin air, on point and geared up, and pulled out enormous amounts of wealth, and caused many people to loose untold amount of investment.

..."why"...?

Why would Poloniex acually think that "that" was ok? You mutilated the trust that was given to you ..."


Most of the delist-scheduled coins have massive sell-offs right at the moment -- or, as some claim, before -- the delisting announcements posted. The improbability of users with these degrees of holdings being online at this precise moment, and paying attention to those coins, if not refreshing the pages to see the announcements, seems to be extremely high.

I do encourage those who are interested to verify for yourself, zoom in to 12 AM on April 19th. It can also be seen that 4 to 6 weeks before the April 19th delisting announcement, most of these cryptocurrencies prices doubled or tripled in value. I was led to ask, "but wait, why are they "surprise" delisting these coins that have recently doubled and tripled in value...?"

Most of this "inflation" is indeed that. The prices were pumped by mostly shallow, pennies-worth or less, bids and buys.

If you do go ahead and do the research, I also encourage you to save the data. Maybe "screen-record" your Poloniex browsing session..

https://www.poloniex.com/exchange#btc_bbr
https://www.poloniex.com/exchange#btc_bits
https://www.poloniex.com/exchange#btc_c2
https://www.poloniex.com/exchange#btc_cure
https://www.poloniex.com/exchange#btc_hz
https://www.poloniex.com/exchange#btc_ioc
https://www.poloniex.com/exchange#btc_myr
https://www.poloniex.com/exchange#btc_nobl
https://www.poloniex.com/exchange#btc_nsr
https://www.poloniex.com/exchange#btc_qbk
https://www.poloniex.com/exchange#btc_qora
https://www.poloniex.com/exchange#btc_qtl
https://www.poloniex.com/exchange#btc_rby
https://www.poloniex.com/exchange#btc_sdc
https://www.poloniex.com/exchange#btc_unity
https://www.poloniex.com/exchange#btc_vox
https://www.poloniex.com/exchange#btc_xmg

[1715567276]

1715567276

[Spoderman]

You're not the only one to notice this. Crypto isn't regulated so these folks can't get into trouble. The exchanges and not just polo have been manipulating coin prices for years now. This is nothing new.

[BTCwriter]

It sure do look insiders job before the announcement of delisting, it's traders fault to give Polo any credible because it was and used to be a shit exchange before Eth pump. I'm sure majority don't really care if they don't hold any of those coins. Only bagholders would cry and there is nothing they can do to change it, just a waste of time.
When bagholders cry it only give them more credible. I personally don't have Polo account.

[poochpocket]

I posted this in the other thread as well:

This is cherry picked data. There is no correlation between the pumps and delist unless you conveniently ignore: APM, DGB, EMC2, FTC, GAME, PINK, POT, XEM... and others. Look at the charts. There is no correlation between the pump and the delist when you factor in ALL markets.

In reference to "ghost people": People watch the markets and react. It's no surprise that there was a massive selloff immediately after the announcement, these are not "ghosts".

[Hypocritus]

I posted this in the other thread as well:

This is cherry picked data. There is no correlation between the pumps and delist unless you conveniently ignore: APM, DGB, EMC2, FTC, GAME, PINK, POT, XEM... and others. Look at the charts. There is no correlation between the pump and the delist when you factor in ALL markets.

In reference to "ghost people": People watch the markets and react. It's no surprise that there was a massive selloff immediately after the announcement, these are not "ghosts".

If you had insider information, you would have to be very naive "not" to try to hide the illegitimate pumping and dumping with apparently legitimate pump.

Pump literally costs next to nothing, especially if you actually accomplish your goal.

Having "insider information" does not mean that there is no ambiguity to the information. People privy to the information could have been informed of "The List" of possible delist coins, but when the "tish" hit the fan, only 17 of them ended up being delisted.

These seem to explain the apparently non-sensical, frantic activity with some of the other coins.


In other words, to me, it does not look well for Poloniex.

[Hypocritus]

I'm sure majority don't really care if they don't hold any of those coins. Only bagholders would cry and there is nothing they can do to change it, just a waste of time.

Oh, sorry BTCWriter. I thought I was posting this message on a forum where multi-Altcoin related topics are discussed.

[poochpocket]

So there are two possible scenarios:

- There was a grand conspiracy by the most profitable exchange globally (~$500k day in fees) to make a few extra bucks by dumping on their own customers
- The markets were in their usual pump cycle when the delist was announced and this was a natural sell-off

[pawpatrol]

So do the exchange collaborate together to manipulate prices?
I hope not..

[bathrobehero]

The improbability of users with these degrees of holdings being online at this precise moment, and paying attention to those coins, if not refreshing the pages to see the announcements, seems to be extremely high.

That's why you're wrong, people tend to closely keep track of their holdings.

And the delistings were announced on 18 April: https://twitter.com/Poloniex/status/854486851238932481

I only promptly looked at the post and graphs so I might be missing something but at first glace everything seems to be fine.


One thing I hate though is that they just give you delisting dates instead of warnings about low volume so the community of each coin can't chip in to trade to keep the volume and keep the coin on the exchange. Same goes for Bittrex and C-cex.

They are single handedly killing (and giving birth in case of a random listing) to coins which means too much - centralized - power over small-ish coins.

[Starkz]

So do the exchange collaborate together to manipulate prices?
I hope not..

Hope not too but there are no regulations in the wild wild west. Waiting to see how GNO rolls out and how the two major holders rumored to be exchanges play with their new toy

[poochpocket]

So do the exchange collaborate together to manipulate prices?
I hope not..

Hope not too but there are no regulations in the wild wild west. Waiting to see how GNO rolls out and how the two major holders rumored to be exchanges play with their new toy

True, they're not required to be licensed (yet) but they still have to comply with US law and answer to the IRS, FinCen ect.. they also will be subject to SEC jurisdiction if they trade in securities such as ICONOMI. This notion that the exchanges are running wild scamming customers is completely uninformed.

[Piston Honda]

lmao.....how about DUH?!

no shit, they have been doing for a longggg as time, esp ever since ETH went nuts in Jan 2016!

cartel hellooooo.  they are lucky the sec hasn't paid them a visit since they deal just in cryptos, but no way in hell they would survive being legit (like 1ex.trade is doing).

but as usual the money is there (for now) so the ppl flock.

[BTCwriter]

I'm sure majority don't really care if they don't hold any of those coins. Only bagholders would cry and there is nothing they can do to change it, just a waste of time.

Oh, sorry BTCWriter. I thought I was posting this message on a forum where multi-Altcoin related topics are discussed.

It sure do look insiders job before the announcement of delisting, it's traders fault to give Polo any credible because it was and used to be a shit exchange before Eth pump. I'm sure majority don't really care if they don't hold any of those coins. When bagholders cry it only give them more credible. I personally don't have Polo account.
Just like Eth itself, it sound stupid. Polioniex, Ethereum, it don't sound legitimate with weird name and I usually don't go with company that don't sound legitimate.
I personally think fake pump and fake volume don't mean anything in my book. When equilibrium don't work anymore it going to failed, this is probably what going to happen with fake Polo as insiders pocketing hundreds of millions. My advice to everyone is try not to have account with Polo, simple as that.

[Mr. Green]

I'm sure majority don't really care if they don't hold any of those coins. Only bagholders would cry and there is nothing they can do to change it, just a waste of time.

Oh, sorry BTCWriter. I thought I was posting this message on a forum where multi-Altcoin related topics are discussed.

It sure do look insiders job before the announcement of delisting, it's traders fault to give Polo any credible because it was and used to be a shit exchange before Eth pump. I'm sure majority don't really care if they don't hold any of those coins. When bagholders cry it only give them more credible. I personally don't have Polo account.
Just like Eth itself, it sound stupid. Polioniex, Ethereum, it don't sound legitimate with weird name and I usually don't go with company that don't sound legitimate.
I personally think fake pump and fake volume don't mean anything in my book. When equilibrium don't work anymore it going to failed, this is probably what going to happen with fake Polo as insiders pocketing hundreds of millions. My advice to everyone is try not to have account with Polo, simple as that.

Exactly this.

I never liked poloniex, nor eth. They both running a major scam (dash also part of another scam) and those who are a part of this scam deserve to get burned so badly.

[audaciousbeing]

Based on the analysis you have there, it can equally be regarded as insider trading on the other hand, looking at it deeply its really not insider trading and the reason because the announcement as you rightly stated is not made to anybody outside poloniex and to the best of my decision if you are an outsider to poloniex then there is no way they can reach you since they wont have nay details of how to contact you and more so such decision won't have any relevance to me even if I am notified since I don't have any business with poloniex. But if the information is now limited to some people, without giving adequate time to others to make their decisions then its nothing short of insider trading.

[allthebitandbobs]

No shock there where there is money there   scams .All of then coins were were shit coins bringing nothing new to the table .People who but shit coins got what coming to then

[dissident]

stocks sell off massively after a bad earnings announcement.. they're often announced after the closing bell and despite the fact markets are closed and only extended hours volume is taking place, stocks can make massive moves on low volume.. all it takes is people deciding to bid less for the stock.... no buyers, stock goes down.

As hard as it may seem, a stock with a market cap of 100 billion would never result in 100 billion worth of cash if everyone tried to sell... "market caps" are largely fluff and dependent on a stable supply and demand.. all that "wealth" is paper and can evaporate into thin air with bad news, without even a trade taking place.. all it takes is bad news and suddenly the buyers lower their ask prices and cancel orders.. the "bagholders" have no choice but to sell for the lower price.  All financial markets are a game of musical chairs and gambling, to a degree.

Usually moves like this happen instantly after the news occurs.. you don't need people sitting at their computers trading in mass amounts.. just buyers who cancel their orders or reduce their asks. Certainly news of the only major exchange these altcoins trade on is going to trigger a massive reduction in the asking price of the coin instantly. It's no mystery here.

As for the "pump" , all altcoins were going up during April, every shitcoin that's listed on coinmarketcap.


TLDR: I don't believe poloniex did any wrongdoing here and don't see how they could possibly make that much money from low liquidity virtually worthless altcoins compared to what they get from legit transaction fees. The plunge in price is a perfectly normal market reaction and can be seen in the stock market all the time in numerous examples when a company reports bad earnings after the bell or some other big news comes out.