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Author Topic: SCAM: claims from FATBTC to be worlds biggest exchange are a BIG FAT lie !  (Read 153 times)
JollyGood
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January 16, 2020, 02:48:18 PM
Merited by nutildah (2)
 #1

BEWARE OF
f a t b t c
EXCHANGE



So here is FATBTC, another exchange with fake trading volumes that would put even p2pb2b and coinsbit scammers to shame. Well, even though coinsbit are claiming $2.5 billion worth of trading in previous 24 hours and place themselves at number 6 that in itself is still shameful as it is disgraceful. More on coinsbit in the future...

Back to FATBTC claiming to $3.747 billion with a staggering 135% increase in trading in the previous 24 hours.

Utterly ridiculous claims that only somebody uninitiated with crypto or be a complete newbie (or otherwise gullible person) would believe.









Most of their fees for the commonly used crypto shows as:

https://www.fatbtc.com/fees: Taker 0.2% (Use FAT to pay the fees will be 0.05%) Maker 0.2% (Use FAT to pay the fees will be 0.05%)

They have not made known how much they will charge to list a token or coin but with inflated and fake trading volumes they are probably around the $100,000 p2pb2b an coinsbit scammers charge: https://www.fatbtc.com/notice-detail?id=480&language=en&_en


Compare Alexa site rankings with Binance:

https://www.alexa.com/siteinfo/binance.com (This site ranks: #1770 in global internet engagement)
https://www.alexa.com/siteinfo/fatbtc.com (This site ranks: #183,666 in global internet engagement)



Compare Twitter follwers with Binance:

https://twitter.com/binance (1.09 million)
https://twitter.com/fatbtc (15,900)


FATBTC is nothing other than one more exchange in a long line of exchanges that make ludicrous claims. They have nothing substantive as far as website visitors and social media following is concerned yet they boast the most ridiculous volumes imaginable.

It seems the same scam exchanges rotate the top position between themselves, each one eager to out-do the other by posting even bigger trading volumes thus posting even bigger lies than the previous big lie.

For those that are new to crypto or are trying to find an exchange to use, please avoid FATBTC. You are better off creating a thread to ask for advice on which exchange you should use and only decide after reading the recommendations put forward.

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January 16, 2020, 03:08:12 PM
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Back to FATBTC claiming to $3.747 billion with a staggering 135% increase in trading in the previous 24 hours.

Staggering? You haven't' seen anything, latoken have fixed their fake trading bot and they are aiming for the podium again:

 Grin

All the top ten exchange on CMC are garbage the best advice to stop using CMC altogether or if you really want to go to the liquidity page:
https://coinmarketcap.com/rankings/exchanges/liquidity/

As for fatbtc, they've been around for a long time and nobody around here uses them anymore since the whole fake volume from china saga went down.
Probably this is a desperate attempt to catch a few new customers but I have doubts they will succeed.






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January 16, 2020, 03:23:06 PM
 #3

Staggering? You haven't' seen anything, latoken have fixed their fake trading bot and they are aiming for the podium again:

 Grin


 Grin

For them to claim to have a 2008.36% increase in 24 hour trading volumes is.... I am lost for words.

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January 16, 2020, 04:01:25 PM
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 Grin

Stupid scammers trading in the multiverse i guess. Quite possibly Earth 69
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January 16, 2020, 05:30:47 PM
 #5

I think looking at the data on Coinmarketcap about exchanges with large volumes is not right when viewed from Coinmarketcap and it is only bots that work for Latoken and FatBtc, it is better to look at Coingecko which is more accurate and until now Binance has become the largest daily trade exchange .
The others are just bullshit.
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January 16, 2020, 06:44:41 PM
 #6

Free promotion with fake volume! This is their dirty game for getting more and more new customers. How much they have succeeded with this system is unknown, but it is understood that they have lost their reputations.

And coinmarketcap is required to provide original data. These exchanges are easily manipulate coinmarketcap with fake data. It's misleading newbies.

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JollyGood
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January 19, 2020, 08:14:52 PM
 #7

Free promotion with fake volume! This is their dirty game for getting more and more new customers. How much they have succeeded with this system is unknown, but it is understood that they have lost their reputations.

And coinmarketcap is required to provide original data. These exchanges are easily manipulate coinmarketcap with fake data. It's misleading newbies.

Do you have a solution or technique that will allow only genuine data to be listed by Coinmarketcap? They will list whatever data is being sent to them, they are not going to try to investigate anything.

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January 26, 2020, 02:22:11 AM
 #8

That CoinMarketCap gives some appearance of legitimacy to these absurd claims from Fatbtc is beyond me.

Actually, they have been cleaning fraudulent volumes from many exchanges as it's clear that they don't do any due diligence, even on cases like of this, when the claim is manifestly false.

Thanks to this, they end up helping these fake exchanges by promoting them. When these fake volumes are just a way for scam exchanges to get some free publicity and appearance of honesty in order to get victims, CoinMarketCap also end up helping these scams.

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https://bitcointalk.org/index.php?topic=4975753.0
https://www.coinmedicate.com/the-rock-trading-selective-scam/
https://bitcointalk.org/index.php?topic=5025233.0
https://therocktradingscam.home.blog/
https://therocktradingscam.weebly.com/
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January 26, 2020, 04:10:38 AM
 #9

Free promotion with fake volume! This is their dirty game for getting more and more new customers. How much they have succeeded with this system is unknown, but it is understood that they have lost their reputations.

And coinmarketcap is required to provide original data. These exchanges are easily manipulate coinmarketcap with fake data. It's misleading newbies.

Do you have a solution or technique that will allow only genuine data to be listed by Coinmarketcap? They will list whatever data is being sent to them, they are not going to try to investigate anything.

It's much more related to the money this tokens pay to CMC. If they pay high amounts they would be shown higher on the list of tokens by manipulating the volume. So, just money speaks with them, investigation before listing is nothing in there criteria.
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January 27, 2020, 02:40:16 AM
 #10

It is not just FatBTC that CMC is legitimising by giving them a platform. The likes of coinsbit and p2pb2b are all posting fake volumes but the issue is that CMC are investigators, their job is not to investigate any exchange, they simply take the figures they receive then publish them.

If CMC were to clamp down on these scam exchanges it would be a good thing for all crypto users but they have not taken any real steps so far. Those new to crypto will not understand what is going on behind the scenes when it comes to fake volumes so maybe it about time CMC and those that provide a similar service started to take a tough stance against these scammers.



That CoinMarketCap gives some appearance of legitimacy to these absurd claims from Fatbtc is beyond me.

Actually, they have been cleaning fraudulent volumes from many exchanges as it's clear that they don't do any due diligence, even on cases like of this, when the claim is manifestly false.

Thanks to this, they end up helping these fake exchanges by promoting them. When these fake volumes are just a way for scam exchanges to get some free publicity and appearance of honesty in order to get victims, CoinMarketCap also end up helping these scams.

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