original post here:
https://www.reddit.com/r/CryptoCurrency/comments/8n7v62/how_playkey_pkt_lied_about_a_buyback_and/"Hello, I wanted to let everyone know about this projects extremely suspicious behavior and possible scam.
Last week Playkey (PKT) announced that there will be a buyback on May 29. they said 2 Million PKT tokens will be bought back on HitBTC with the maximum price of $2.5 million. However, there are only fake buys going on right now as you can see from the order book and order history. You can check yourself here:
https://hitbtc.com/PKT-to-BTC I also have video and screenshot proof just in case.
Here how it happens; let's say the lowest sell price is 10K sats. a sell order of 9.99K sats get listed and bought instantly, thus creating a fake buy volume. This happens from time to time for various amounts of tokens. You can think this is a bot instantly buying sell orders to accumulate but that's not the case. When you put a sell order for 9.99K sats it's never bought. In these videos you can see it in detail, you don't have to watch the whole video, just click the time stamps on the description.
https://www.youtube.com/watch?v=XEaIPU28SxMhttps://www.youtube.com/watch?v=gO2W7akdJtMhttps://www.youtube.com/watch?v=ybzdU2ESfQoThey are banning people from their Telegram channel just for asking a buy back proof. If anyone talks about transparency they just copy/paste the same texts that says "We do not disclose details to avoid possible manipulation and speculation of professional traders." or "All procedures are on the side of the exchange. With all the openness of the company, we can not show anything. Due to the peculiarities of the exchange and security. With all due respect, this is not negotiable." In truth they are the ones manipulating the price with lies and fake buys.
twitter buyback announcement:
https://twitter.com/Playkey_EN/status/998543219808927744Medium article:
https://medium.com/@playkey/playkey-plans-to-buy-back-2-000-000-pkt-for-up-to-2-5-million-dollars-aacf450e865b"
