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Coinfan (OP)
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January 04, 2019, 02:33:45 PM
Last edit: January 04, 2019, 03:06:07 PM by Coinfan |
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No reason at all to be sorry. Thanks for your support.
Thanks for the merits and the attention to this, s1lverbox.
The fact that they have a bot trading on their exchange with their own customers creates an unavoidable conflict of interest. They cease to be a neutral platform and this creates wrong incentives.
Moreover, the bot also creates a serious financial risk to the exchange when bitcoin crashes. Something that can make them insolvent with their customers paying the price.
Their customers sell their bitcoins to the bot and the exchange ends up with a huge loss if the price keeps dropping and they take time to sell the bitcoins on another exchange.
I wrote about this on my August emails exchange with them and they didn't deny that they were the owners of the bot. They simple answered that my money was safe.
It's clear (at least) on their most important market, the BTCEUR, the existence of a continuous trading of small amounts, every minute. This indicates that the bot trades with itself.
Clearly, a customer's bot wouldn't do this. Which confirms that the bot is theirs.
This inflates artificially their volume and, therefore, is also a misleading tactic.
But as far as I know, they never disclosed publicly that they are running a bot on their own exchange. This is another red flag.
I don't know how serious this is under Italian law, but I'm going to also raise this issue with the Italian authorities.
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JollyGood
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Activity: 2520
Merit: 1711
Top Crypto Casino
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January 04, 2019, 02:42:53 PM |
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No reason at all to be sorry. Thanks for your support. And for your attention, s1lverbox.
The fact that they have a bot trading on their exchange with their own customers creates an unavoidable conflict of interest. They cease to be a neutral platform and this creates wrong incentives.
Moreover, the bot also creates a serious financial risk to the exchange when bitcoin crashes. Something that can make them insolvent with their customers paying the price.
Their customers sell their bitcoins to the bot and the exchange ends up with a huge loss if the price keeps dropping and they take time to sell the bitcoins on another exchange.
I wrote about this on my August emails exchange with them and they didn't deny that they were the owners of the bot. They simple answered that my money was safe.
It's clear (at least) on their most important market, the BTCEUR, the existence of a continuous trading of small amounts, every minute. This indicates that the bot trades with itself.
Clearly, a customer's bot wouldn't do this. Which confirms that the bot is theirs.
This inflates artificially their volume and, therefore, is also a misleading tactic.
But as far as I know, they never disclosed publicly that they are running a bot on their own exchange. This is another red flag.
I don't know how serious this is under Italian law, but I'm going to also raise this issue with the Italian authorities. It sounds very serious to me. As you said the red flags keep building up against them. The Italian authorities would definitely welcome your evidence because there is no way the scammers at Rock Trading have 24 hour volumes of +500k EUR but they continue to send that scam information to CMC |
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s1lverbox
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Activity: 2310
Merit: 1039
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January 04, 2019, 02:47:56 PM |
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No reason at all to be sorry. Thanks for your support. And for your attention, s1lverbox.
The fact that they have a bot trading on their exchange with their own customers creates an unavoidable conflict of interest. They cease to be a neutral platform and this creates wrong incentives.
Moreover, the bot also creates a serious financial risk to the exchange when bitcoin crashes. Something that can make them insolvent with their customers paying the price.
Their customers sell their bitcoins to the bot and the exchange ends up with a huge loss if the price keeps dropping and they take time to sell the bitcoins on another exchange.
I wrote about this on my August emails exchange with them and they didn't deny that they were the owners of the bot. They simple answered that my money was safe.
It's clear (at least) on their most important market, the BTCEUR, the existence of a continuous trading of small amounts, every minute. This indicates that the bot trades with itself.
Clearly, a customer's bot wouldn't do this. Which confirms that the bot is theirs.
This inflates artificially their volume and, therefore, is also a misleading tactic.
But as far as I know, they never disclosed publicly that they are running a bot on their own exchange. This is another red flag.
I don't know how serious this is under Italian law, but I'm going to also raise this issue with the Italian authorities. It sounds very serious to me. As you said the red flags keep building up against them. The Italian authorities would definitely welcome your evidence because there is no way the scammers at Rock Trading have 24 hour volumes of +500k EUR but they continue to send that scam information to CMC Best part is: wash trading will be their nail to the coffin. because a. volume allows to prove they made money on fees and maybe they didnt paid tax on it and b. wash trading in general is scummy way of attracting customers. Seriously if they have 500k daily and even 0.1% fees is payable for this volume than simple math will show they are scamming or a. users or b. tax office. |
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JollyGood
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January 04, 2019, 02:53:17 PM |
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Best part is: wash trading will be their nail to the coffin. because a. volume allows to prove they made money on fees and maybe they didnt paid tax on it and b. wash trading in general is scummy way of attracting customers.
Seriously if they have 500k daily and even 0.1% fees is payable for this volume than simple math will show they are scamming or a. users or b. tax office. That is what they claim: https://coinmarketcap.com/it/exchanges/therocktrading |
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Coinfan (OP)
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January 06, 2019, 02:31:54 PM Merited by s1lverbox (10) |
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They used to indicate the number of users online. Usually, it was about 70. A number who wouldn't be able to make the volume posted by Jollygood or the continuous small trades.
But I think they removed this information.
The issue of taxes is well remembered. If they report that volume, their taxes most be compatible with it or they will be in trouble.
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JollyGood
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Activity: 2520
Merit: 1711
Top Crypto Casino
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January 06, 2019, 03:44:56 PM |
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They used to indicate the number of users online. Usually, it was about 70. A number who wouldn't be able to make the volume posted by Jollygood or the continuous small trades.
But I think they removed this information.
The issue of taxes is well remembered. If they report that volume, their taxes most be compatible with it or they will be in trouble. If adding tax investigations to the equation, surely the Italian authorities would be even more interested in these scammers. What is the latest news regarding your complaint? |
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r34tr783tr78
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January 08, 2019, 03:08:46 PM |
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I never saw something like this. They know that they are going to be nailed but still they dont give up on their scam. They decided to sink the exchange and made a pact to go down with it.
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Coinfan (OP)
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January 09, 2019, 07:24:31 PM |
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They are going to act as proud captains: sink with the ship.
What is the latest news regarding your complaint?
The Arbitrator hasn't yet answered. This is going to take a lot of time. |
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JollyGood
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Activity: 2520
Merit: 1711
Top Crypto Casino
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January 09, 2019, 09:23:07 PM |
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They are going to act as proud captains: sink with the ship.
What is the latest news regarding your complaint?
The Arbitrator hasn't yet answered. This is going to take a lot of time. We will be with you supporting you throughout. You have the forum standing alongside you. |
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Coinfan (OP)
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January 11, 2019, 03:08:35 PM |
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They are going to act as proud captains: sink with the ship.
What is the latest news regarding your complaint?
The Arbitrator hasn't yet answered. This is going to take a lot of time. We will be with you supporting you throughout. You have the forum standing alongside you. You made a lot of enemies for picking fights that aren't yours. I gave you positive feedback some time ago for being a helpful forum member who supports many people against scams. |
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VINSIN
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January 11, 2019, 03:36:41 PM Merited by s1lverbox (15) |
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You have 30k in their exchange.
Buy a flight ticket and go and visit their address. What's so hard about it? Make a video, go yourself to the Italian police in that area.
The carabinieri, believe me if you explain well they will help you instantly, just to scare them.
Also the Italian police is very friendly a lot against scams and thieves. For any logistic help in Italy I would be more than happy to help you for free.
Even travelling with you to Italy. I love Italy lived there a lot of times in my life so it would be my pleasure.
Not sure if you will ever recover the money but it's worth trying it
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Coinfan (OP)
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January 11, 2019, 04:15:39 PM
Last edit: January 16, 2019, 03:15:48 PM by Coinfan |
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Thank you for your post.
This case is currently under review of an Italian Financial Arbitrator with automatic jurisdiction over the Rock Trading. And it will solve this mess and force them to pay a compensation.
The Arbitrator only accepts cases that weren't sent to the police before. So, I can't go to the police right now. Besides, it would be harder and slow to get a compensation from a criminal court. And their assets could end frozen and The Rock Trading bankrupted, something that would put my money in danger.
But after, the Bank of Italy and the Italian police/pubblico ministero will be also notified about the Arbitrator decision and about all details of this case.
Thanks for your assistance, but there is no need to go to Italy.
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s1lverbox
Legendary
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Activity: 2310
Merit: 1039
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January 11, 2019, 08:40:43 PM |
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You have 30k in their exchange.
Buy a flight ticket and go and visit their address. What's so hard about it? Make a video, go yourself to the Italian police in that area.
The carabinieri, believe me if you explain well they will help you instantly, just to scare them.
Also the Italian police is very friendly a lot against scams and thieves. For any logistic help in Italy I would be more than happy to help you for free.
Even travelling with you to Italy. I love Italy lived there a lot of times in my life so it would be my pleasure.
Not sure if you will ever recover the money but it's worth trying it
Real crypto dude. Good to know there is someone like you who willing to help without waiting. Crypto is full of scammers but also normal people who willing to help without asking for anything in return. |
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coinsvision
Member
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Activity: 156
Merit: 24
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January 11, 2019, 10:30:10 PM |
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You have 30k in their exchange.
Buy a flight ticket and go and visit their address. What's so hard about it? Make a video, go yourself to the Italian police in that area.
The carabinieri, believe me if you explain well they will help you instantly, just to scare them.
Also the Italian police is very friendly a lot against scams and thieves. For any logistic help in Italy I would be more than happy to help you for free.
Even travelling with you to Italy. I love Italy lived there a lot of times in my life so it would be my pleasure.
Not sure if you will ever recover the money but it's worth trying it
OP do not want to reveals his identity. Why do you think he will goes to their office?  And of couse not, this 30k is not acquired with illegal activity. I guess, OP want to protect his privacy as everyone have to! I protect my privacy too, but it is not hard to find my real name, because im linked to website. I protect my privacy too, i think about my real sensitive data and everyone have to. And of couse I'm protecting Coinfan and I really belive he will get his money, because they belong to him! |
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VINSIN
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January 11, 2019, 11:26:06 PM |
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You have 30k in their exchange.
Buy a flight ticket and go and visit their address. What's so hard about it? Make a video, go yourself to the Italian police in that area.
The carabinieri, believe me if you explain well they will help you instantly, just to scare them.
Also the Italian police is very friendly a lot against scams and thieves. For any logistic help in Italy I would be more than happy to help you for free.
Even travelling with you to Italy. I love Italy lived there a lot of times in my life so it would be my pleasure.
Not sure if you will ever recover the money but it's worth trying it
OP do not want to reveals his identity. Why do you think he will goes to their office? And of couse not, this 30k is not acquired with illegal activity. I guess, OP want to protect his privacy as everyone have to! I protect my privacy too, but it is not hard to find my real name, because im linked to website. I protect my privacy too, i think about my real sensitive data and everyone have to. And of couse I'm protecting Coinfan and I really belive he will get his money, because they belong to him! Oh I see your point. I just wanted to be nice. Nothing to do with his privacy. I respect it |
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Coinfan (OP)
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January 13, 2019, 04:04:57 PM
Last edit: January 16, 2019, 02:54:31 PM by Coinfan |
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You have 30k in their exchange.
Buy a flight ticket and go and visit their address. What's so hard about it? Make a video, go yourself to the Italian police in that area.
The carabinieri, believe me if you explain well they will help you instantly, just to scare them.
Also the Italian police is very friendly a lot against scams and thieves. For any logistic help in Italy I would be more than happy to help you for free.
Even travelling with you to Italy. I love Italy lived there a lot of times in my life so it would be my pleasure.
Not sure if you will ever recover the money but it's worth trying it
OP do not want to reveals his identity. Why do you think he will goes to their office? And of couse not, this 30k is not acquired with illegal activity. I guess, OP want to protect his privacy as everyone have to! I protect my privacy too, but it is not hard to find my real name, because im linked to website. I protect my privacy too, i think about my real sensitive data and everyone have to. And of couse I'm protecting Coinfan and I really belive he will get his money, because they belong to him! Actually, as I posted on the OP, there is no longer a privacy issue: XII) This scam is now on the european arbitrage system, after a complaint with full disclose of identity. This was confirmed by a banking transfer to pay for the complaint cost. My accusations aren't no longer anonymous. They had no right to KYC on this case, but now they know all personal details. But they are still blocking my money. |
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VINSIN
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January 13, 2019, 05:22:16 PM |
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You have 30k in their exchange.
Buy a flight ticket and go and visit their address. What's so hard about it? Make a video, go yourself to the Italian police in that area.
The carabinieri, believe me if you explain well they will help you instantly, just to scare them.
Also the Italian police is very friendly a lot against scams and thieves. For any logistic help in Italy I would be more than happy to help you for free.
Even travelling with you to Italy. I love Italy lived there a lot of times in my life so it would be my pleasure.
Not sure if you will ever recover the money but it's worth trying it
OP do not want to reveals his identity. Why do you think he will goes to their office? And of couse not, this 30k is not acquired with illegal activity. I guess, OP want to protect his privacy as everyone have to! I protect my privacy too, but it is not hard to find my real name, because im linked to website. I protect my privacy too, i think about my real sensitive data and everyone have to. And of couse I'm protecting Coinfan and I really belive he will get his money, because they belong to him! Actually, as I posted on the OP, there is no longer a privacy issue: XII) This scam is now on the european arbitrage system, after a complaint with full disclose of identity. My accusations aren't no longer anonymous. They had no right to KYC on this case, but now they know all personal details. But they are still blocking my money. So what happened finally? I read at a moment they said they won't reply anymore, how it is possible nothing to happen yet to these guys? EU works slowly that's for sure and arbitrage court will..reply in 3 months if you are a luck guy but still..you have to solve it soon. You spoke before again taxes. They have on CMC mostly a 100 btc daily trading. That means they do around 0.5 BTC from fees. From these in theory they would have to be forced at least 0.08 BTC taxes daily to the government. But they can up to 0 if they have in their declarations that they have done investments in their capital |
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VINSIN
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January 13, 2019, 05:23:45 PM |
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Your story is sad, I would like to help you out not only with these bumps..
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Coinfan (OP)
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January 16, 2019, 03:06:05 PM |
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Your story is sad, I would like to help you out not only with these bumps..
Since the main goal of this thread is warning the community about The Rock Trading practices, your bumps are very helpful. Don't be sad about my story. I'm only risking money. They are gambling with money, but also with their reputation, business and freedom. Time is on my side, since as it pass, they just increase their responsibility and confirm their own guilt. In the end, you will be sad about them. If The Rock Trading states publicly that volume, they will have to pay taxes based on it, even if it's a fake volume, since they have a bot trading there which (all evidence suggests that) trades with it self and misleadingly inflates volume. |
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VINSIN
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January 16, 2019, 03:22:52 PM |
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Your story is sad, I would like to help you out not only with these bumps..
Since the main goal of this thread is warning the community about The Rock Trading practices, your bumps are very helpful. Don't be sad about my story. I'm only risking money. They are gambling with money, but also with their reputation, business and freedom. Time is on my side, since as it pass, they just increase their responsibility and confirm their own guilt. In the end, you will be sad about them. If The Rock Trading states publicly that volume, they will have to pay taxes based on it, even if it's a fake volume, since they have a bot trading there which (all evidence suggests that) trades with it self and misleadingly inflates volume. Paying taxes for volume based on EU laws ain't so dangerous. The only problem they might have is that you will get your money + demage for keeping them for so long. But regarding paying taxes or jailtime, very but very small chances |
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