RailBlocks XRB price at BitGrail x Mercatox. Scam ?

[Velociraptor73]

As XRB has been pumping more that 20% almost every day when other coins are going deep in the red, I decided to buy some.
At the moment, the only two exchanges that I know that deal with XRB are BitGrail and Mercatox.

So, first I tried to send BTC founds to my new open account wallet at BitGrail but my exchange canceled the withdraw saying that my wallet at BitGrail was not in the blockchain. I checked the address and it was correct!

Then I opened an account at Mercatox, tested with 0.0010 BTC and all went well, so I sent some more.

By the time my founds in btc were avaliable to place an order, XRB was raising very quickly from 20% to more than 40%, so I waited for a correction but it keept going from 0.00094btc up to 0.00126776. At the same time it took to the price to raise all that at Mercatox, about 6-7 hours, I discovered XRB price at BitGrail has been almost static, not reaching more than 0.0009846

All this is looking very strange to me and I decided not to take a risk and send back my founds in btc back to my original exchange wallet just to discover that Mercatox has a limit of only 0.5btcs withdraw per day for non registered users. I uploaded all the necessary documentation to verify my account but it doesn´t save it!

Does anyone have any idea about what is going on with XRB prices in this two exchanges and why Mercatox seems to be holding on custumers founds?

It seem to me that Mercatox is manipulating XRB prices to attract investors and trapping their investments!  

EDITED: Forgot to mention that I also saw several people complaining in the chatroom at Mercatox that their deposits in XRB are taking days to clear!
Maybe a way to limit XRB supply?

And my question about huge price differences in exchanges was deleted from BitGrail TrollBox!

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[muf18]

Yeah it seems very strange.

I don't know what to think about it. Price climbing is very suspected, I know it isn't there big volumes, but still now it's moving more than 20M$.

Of course there are hodlers, but it seems that, only buying is occuring. And now this crash a few moments ago.

[ohncoins]

Indeed. I wouldn't jump on. Price action looks suspicious IMO

[qazgroup]

After reading your post i just checked xrb chart and it is vertical only and that is highly suspicious, looks like it is being manipulated and we will soon see a big dump soon, so be careful.

[chocopapaya]

Does seem suspicious . . . until you consider what is really going on through joining conversations on slack or even just raiblocks discussions here on bitcointalk.

Basically, bitgrail is too overloaded that they are having technical issues.  The demand for raiblocks is so high that they couldn't handle it.
Now, all of the volume has shifted to mercatox, that's why the price stalled on raiblocks but skyrocketed on mercatox.

As far as their verification and withdrawal issues, those are very standard for any exchange.
.5btc withdrawals for unverified users is pretty normal.
As far as the issues of uploading document, I have found similar problems on various exchanges.
On top of that, even after you upload documents it can take anywhere from a short hour to verify to one time 7 full days.
That part seems like a technical issue.

So, actually, I think you should count yourself lucky.
Any coin that is pumping this hard is not a great time to invest.
The price correction will come, it is not wishful thinking it is mathematics and economics.

[Velociraptor73]

Well, after hitting more than 0.0029btcs XRB went all way down to 0.0017 in a few minutes.
What is most interesting is that charts on both exchanges do not tell the truth about what is going on. Bitgrail chart keeps showing green sticks even when the price has fallen considerably. At least on Mercatox you can update the chart manually, but you have to keep doing it frequently to keep update. You better follow XRB charts on Blockfolio, they are much more precise and update than at these exchanges pages but when things heat up Blockfolio also becomes very strange. I guess they rely on information sent by the exchanges.
Time table is no where shown or adjusted to your local time and text prices at Grailbit also does not refresh continuously, after a few minutes you have to reload the page to get the latest prices, specially if price is down.
And on top of all that, stop loss orders are non existent at Grailbit or disabled at Mercatox. Very, very suspicious to say the least.
Not to mention frequent desperate people at the chatroom because they have been waiting more that a week for withdraws balance to show up at the destination account outside these exchanges without success or any response from support.

I heard XRB is one of the most fairly distributed coins in the market but that doesn´t seems true either as these whales attacks on small weak heart newbee buyers that get their investments trapped in the web of these dodgy exchanges seem pretty well organised and planed.
Whoever they are, they are doing a massacre and the exchanges problems seems very convenient for that.

If XRB is not a scam itself, it urgently needs a transparent exchange.

I never worried about regulations as I don´t like them but unfortunately all this is a perfect example why they will be needed!
Everything points to an amazing price manipulation going on with XRB to trap funds in these exchanges.
What could be next?
You guess...
But I definitively hope to be proved wrong!

[serian]

Apparently Bitgrail scamming it's users. Almost whole month there has been withdrawal issues with XRB on Bitgrail. Hopefully I did it early January. Stay away from BitGrail.
Here is links:
https://www.reddit.com/r/RaiBlocks/comments/7u0ym4/class_action_lawsuit_against_bitgrail/
https://www.reddit.com/r/RaiBlocks/comments/7u1vcg/bitgrail_just_ruined_everything_for_me_rant/