Cryptocurrency Exhanges - South Korea

[karloscimot]

It's a fact.

Manipulation do really happens inside the exchanges premises. Just observe one exchange and you will have an idea on how they manipulate the market and that's through their fake orders. Remember the time when Bitmex was on maintainance? I don't think it's just a coincidence that the market pump by that time.

business people will definitely use a variety of ways to be able to manipulate exchanges, and the goal is to be able to raise prices or to control prices. Bitcoin trading is very potential to be manipulated, but in reality it is very rare that it works, everything is always detected because the system is interconnected, so this once again proves that blockchain technology is very safe.

[0t3p0t]

Wash trading is a disease, the problem is we don't know how to detect them asap. Even Upbit got the same accusation, they're one of the major exchanges in South Korea IIRC. Let's hope the government intervention can prevent shit like this in the future (quite ironic tbh).

Anyway, if you have doubt, your alternative would be to use some services like Shapeshift or Changelly, but you also need some degree of trust. DEX is also a good choice if you only trade tokens. If you're really paranoid, then atomic swap should be the answer.

At this moment, it is nearly impossible not to use centralized exchanges if you want to trade different coins, so your best choice is to use them when you want to trade and then withdraw any funds when you're finished. With pretty much praying the exchange won't get hacked when you still have an order.

I agree. Hunting these people will take time and I salute to the Korean government too that they did not tolerate market manipulation . I love it when governments has to do their duty to protect it's people. I think regulations of exchanges is a good idea for a fair transaction without manipulating the market as it might lead other investors and traders to lose their investments because of these greedy individuals that keeps on taking advantage against us.

[Burogh]

I think many exchanger using bots. Exchanger manipulating their transaction volume because in many country, cryptomarket still not regulated. But south korea is good country because the government regulating cryptocurrency. Its true that we should aware on exchanger and keep our coin in our own wallet.

[babarian]

I have lost several times because I made a deposit on the exchanger that made a volume of fake trading and traders with bots, this made me lose because I had to do WD and have to pay a withdraw fee.

[Capt00]

Wash trading is like cancer we would not be able to cure. Ever since executive/corporate was created and regulated and even though, in the era of salts and spices, these manipulations really happened and will be kept that way. I don't feel any doubt from crypto exchanges since
some people would benefit it and some people won't. But if you have a great analysis you can actually benefit from their techniques and strategy. This is just my opinion though it is always up to you.

[tinker123]

Naturally this will happen. The right people will always try to control and manipulate the volumes in their favor. After all, they want to weigh themselves. 

[usorin]

South Korea was in a hot seat last year because of many issues about cryptocurrency, and this year another news that can affect the market on South Korea.

This is not the first time we heard about the Executives who manipulates the trading volume in South Korea, and it looks like they keep on doing this over again. Recently, another two top executive are being sentenced to jail because of manipulation on the trading volume.

https://www.ccn.com/korean-crypto-exchange-executives-fake-trading-volumes-earn-prison-sentences/

I’m wondering if the top exchanges are doing this also considering the volume of the users. Did you feel any doubt right now? Or you’re confident that you are in the right exchange?

Well, this is cryptoworld anything is possible so be safe and protect your coins. Anyway, Kudos to the government of South Korea who keeps on making a good regulations, a greedy people like these deserves that.

I believe that Mr. Satoshi did not has this kind of things in his mind when he made the BTC white paper. As lșong as the decision of the judge is legal, i totally agree that the kind of people who simply try to make illicit fortune has to be punished.

[khufuking]

A lot of the coins that get listed these days are being fake traded on the exchanges they are listed on with a goal to great a volume to support their coin I have experienced this with come tokens recently and the fake trades can be spotted very easily by anyone that will try to trade this tokens because I am not an expert but I still managed to spot it with ease.

[Crypdon]

These executives are a disgrace to crypto. They are just like the scammers but they do it in the public eye. They should now bow and apologise to us all for behaving like the horrible bankers that we are trying to get away from

[adzino]

Manipulation isn't a new thing in crypto currencies. Nor is it a isolated event at South Korea. The prices has been manipulated various times and we were also able to see it clearly. Exchanges also manipulating the trade volume isn't a new thing. This has been happening ever since the beginning. There isn't much we can actually do to be honest. We just need to watch out and understand what is real and what is not.

[creeps]

I believe that Mr. Satoshi did not has this kind of things in his mind when he made the BTC white paper. As lșong as the decision of the judge is legal, i totally agree that the kind of people who simply try to make illicit fortune has to be punished.

Of course we only realize things if its already there and Mr. Satoshi didn’t anticipate that many greedy people will take advantage this system to scam people. Yep, more regulations will happen and for sure more hackers/Manipulators/Scammer will be punised, this is inevitable and we really need to protect this market.

[Google+]

I see some exchanges originating from South Korea seem to have very large volumes and this shows that the exchange in South Korea is getting very good legality and support from the country, although there are a lot of price manipulations that occur but this shows data on place volume the exchange was very high.

[mirakal]

Based on the article, "The two reportedly earned $45 million from the scam", they get a decent money but they are not smart to end up in jail. They have the power to do it since they are the officials of the exchange, they can control it, we know this is happening but this is a good news because the government is working hard to implement the law regarding crypto.

The effect of this news in the market is good, because it will boost the confidence of the investors as they see the government agency are already working to battle this kind of illegal activity. Moreover, this is also a good warning for people who are in power planning to do this kind of crime.

[jademaxsuy]

It is reputed that most centralized exchanges fake trading volumes to attract more investors to their community. Transparency is much lower in centralized exchanges when compared with DEXes.
Try to compare trading volumes with market capitalization and also check up recent orders and trades.

Which means that dex where far better than centralized exchange? I know that decentralized exchange were far better than centralized but in terms of market cap volume then I think DEX does not have this though there are dex now had gone some good marketcap volumes like those known dex.

[mirakal]

It is reputed that most centralized exchanges fake trading volumes to attract more investors to their community. Transparency is much lower in centralized exchanges when compared with DEXes.
Try to compare trading volumes with market capitalization and also check up recent orders and trades.

Which means that dex where far better than centralized exchange? I know that decentralized exchange were far better than centralized but in terms of market cap volume then I think DEX does not have this though there are dex now had gone some good marketcap volumes like those known dex.

In terms of volume transparency I guess, but one thing that make people continue to support centralized exchange is because of trust.
They trust a centralized exchange because in the event the site is hack, they know who they can go after, also for some centralized exchange, they can apply for an insurance for the amount money they are holding within, correct me if I'm wrong.

[wahyu wida]

It is reputed that most centralized exchanges fake trading volumes to attract more investors to their community. Transparency is much lower in centralized exchanges when compared with DEXes.
Try to compare trading volumes with market capitalization and also check up recent orders and trades.

Which means that dex where far better than centralized exchange? I know that decentralized exchange were far better than centralized but in terms of market cap volume then I think DEX does not have this though there are dex now had gone some good marketcap volumes like those known dex.

regardless which one is better, I think that way, but now even though a decentralized system including the development of smart technology still cannot be applied as a whole, there are still many who cannot yet accept it

[biskitop]

I'm sure one by one the country will start receiving crypto, and crypto will grow. so believe that the crypto market will always be good.

[fauzan Ichsan]

I'm sure one by one the country will start receiving crypto, and crypto will grow. so believe that the crypto market will always be good.

now is the selection of crypto users, many believe, but many who are impatient waiting for high prices come. until finally many countries will follow in the footsteps of South Korea

[Shiversnow]

I have lost several times because I made a deposit on the exchanger that made a volume of fake trading and traders with bots, this made me lose because I had to do WD and have to pay a withdraw fee.

As of now many exchanger make an fake volume in order to attract more investors and trader that will put their money to their exchanger. I also a experience that situation where I lost some of my funds. Most of the project right now are exchanger so it's hard know if they have reliable volume or they use bot.

[entebah]

I see great progress happening in South Korea, because the Korean government has legalized Cryptocurrency in its country, and now there are many large exchange markets from Korea, and they have many traders there, so the Korean market always has large trading volumes every day.