Manipulation at its peak

[Z390]

Something weird happened hours ago and it reminds me of the past event like this one, Coinbase I am looking at you.

Crypto exchanges are the biggest scams in this industry.

Do you know that while the whole market flashcrash hours ago, almost all big centralised exchanges failed to process buy and withdraws, few of my friends can't even log into their accounts, I am even sure that insiders had no issue getting their own buys through.

All centralised exchanges have a lot to answer tbh, Binance and Coinbase as the main suspect.

[Oshosondy]

This has not happened to me before, I have seen highly volatile market several times in crypto market before and it is not something new at all, but I have be able to withdraw my coins anytime that I want to withdraw it. Sometimes exchanges can suspend withdrawal, but it is because of other reasons and not volatile market.

[Plaguedeath]

Almost all or probably all centralized exchanges are like that.

They are worried if the users suddenly sold/withdraw their coins which will affect their reserve funds, their reserve funds works like banks, they have limited amount for the clients allowed to withdraw.

However even though people complain about withdrawal suspend/can't login during high volatile market, they still didn't move their coins to non custodial wallet.

[EarnOnVictor]

I don't think this is the right place to discuss this content, though good, the Service Discussion and Exchange section of the forum are best for it. I will inform the moderators to decide on that.

About the content itself, yesterday was another unforgettable day in the crypto space, Bitcoin dropped to about $102,000 from the daily peak of over $122,500. This represents about ≈#20,000 drop within a few hours. That's strange! Should we call it a manipulation? Well, I won't conclude on that, I believe such would be investigated. A huge profit-taking activity and strong bearish expectations could trigger the ripple effect, than the Trump's remarks itself. It only ignited it.

As for the major exchanges like Binance, Coinbase and the rest stoping the outflow, they are doing that to protect themselves and the crypto market itself. This is why your money may not be your money in crypto space as widely made us known. You only have the access to the money on normal conditions. But let things go awkward, then you know. I was even told that order books stopped in major exchanges too. All these are gross!

[asriloni]

That's only happening at Binance and Coinbase. I also faced the same issue that i can't withdraw or buying the tokens when it's dumping to the floor.  The exchange themselves who can only buy the dip.

Hundreds of complains regarding this can bee seen on their social accounts. It makes no sense to see those big exchange sites facilitate wintermute to dump all of their portfolios at the same time.

Thanks for Binance and Coinbase for this great manipulation, and ruined my potential profits from buying the dip.

[hugeblack]

We can understand Denial-of-Service (DoS) attacks due to a sudden increase in the number of users in a short period of time or due to profound price changes, but these are rare or infrequent.

If it is proven that platforms are doing this intentionally or as a form of market manipulation, they should be avoided, but so far, these are isolated complaints.

[NotATether]

Do you know that while the whole market flashcrash hours ago, almost all big centralised exchanges failed to process buy and withdraws, few of my friends can't even log into their accounts, I am even sure that insiders had no issue getting their own buys through.

It surprised me very much because this crash occurred while I was asleep!

Fortunately the majority of my coins are tied up on Polymarket predictions and were not exposed to BTC when this flash crash happened.

Just use decentralized exchanges which have no problems processing deposits and orders.

[Umulala-alala]

Something weird happened hours ago and it reminds me of the past event like this one, Coinbase I am looking at you.

Crypto exchanges are the biggest scams in this industry.

Do you know that while the whole market flashcrash hours ago, almost all big centralised exchanges failed to process buy and withdraws, few of my friends can't even log into their accounts, I am even sure that insiders had no issue getting their own buys through.

All centralised exchanges have a lot to answer tbh, Binance and Coinbase as the main suspect.

This is why I think decentralised exchange are way better than centralised exchange in this regards, it's won't really matter much if there was a market crash, you wouldn't get logged out, you can still buy and withdraw your crypto, the blockchain might get overwhelmed and transactions might take longer time to process but it will still work out eventually, they might just be a slight increase in gas fee but you won't get logged out no one can stop you from trading or withdrawing, your wallet is your own.
So maybe you should consider working with these exchanges instead that way you can still make good trades during crashes like this.

[Z390]

Do you know that while the whole market flashcrash hours ago, almost all big centralised exchanges failed to process buy and withdraws, few of my friends can't even log into their accounts, I am even sure that insiders had no issue getting their own buys through.

It surprised me very much because this crash occurred while I was asleep!

Fortunately the majority of my coins are tied up on Polymarket predictions and were not exposed to BTC when this flash crash happened.

Just use decentralized exchanges which have no problems processing deposits and orders.

This particular one (lesson) will stay with me for a while because I lost money due to the unable to be active in the exchnage, I could have cut some losses fast because I was not asleep at the time, this was why I believe that it was all planned out and there is clearly something to take the blame, like the downtime bug sh***

[Zaguru12]

This has not happened to me before, I have seen highly volatile market several times in crypto market before and it is not something new at all, but I have be able to withdraw my coins anytime that I want to withdraw it. Sometimes exchanges can suspend withdrawal, but it is because of other reasons and not volatile market.

You might not have experienced it before, yes there was no withdrawal suspension yesterday but in that hours of volatility exchanges were having issue and it is all over X as people are still complaining there was latency issues, I can confirm that of binance that happened, there was a swap from atom to USDC after initiating it I didn’t see the token and also didn’t see the USDC, this stayed for like 30 minutes before it actually reflected. Another incidence some actually told me was when MEXC actually cut his profitable short trade even though he had no TP included, he would have made money without them actually taking out of the market, plus others complain of the buy/sell option not also working then all this during volatile periods yesterday.

This is why I think decentralised exchange are way better than centralised exchange in this regards, it's won't really matter much if there was a market crash, you wouldn't get logged out, you can still buy and withdraw your crypto, the blockchain might get overwhelmed and transactions might take longer time to process but it will still work out eventually, they might just be a slight increase in gas fee but you won't get logged out no one can stop you from trading or withdrawing, your wallet is your own.
So maybe you should consider working with these exchanges instead that way you can still make good trades during crashes like this.

Most of them still slag during those volatile hours in fact I was even seeing people comparing two of the current biggest preps Dex Hyperliquid and Aster together saying that both were strong against latency and had zero downtime during the volatility chaos and even stated that didn’t deleverage any profit trades yesterday but still they were others that did this

[sunsilk]

Something weird happened hours ago and it reminds me of the past event like this one, Coinbase I am looking at you.

Crypto exchanges are the biggest scams in this industry.

Do you know that while the whole market flashcrash hours ago, almost all big centralised exchanges failed to process buy and withdraws, few of my friends can't even log into their accounts, I am even sure that insiders had no issue getting their own buys through.

All centralised exchanges have a lot to answer tbh, Binance and Coinbase as the main suspect.

I think that most of them are like that, when the market is starting to pump. There could be troubles in withdrawals and they cannot process it all.

But some exchanges have proven their worth when debacles have happened to them. I remember bybit when they were hacked in billions, they still processed all of the withdrawals clearly.

Although they have to borrow for everyone to clear their funds, they know that it will happen and have come prepared despite the exchange's situation back then.

[logfiles]

This was me in 2020. I experienced it first hand.

I used to think the stories of exchanges freezing were just myths until I experienced it with Bitmex sometime back and that was the last time I used it. Today, I was a victim again of this kind of freezing but this time round with Binance.

Shortly after the price had started spiking, I had some USDT in there that I wanted to convert to ETH or BTC to avoid missing the rally past $20K but logging into the Binance website wasn't even possible.

 

I made a beeline for my mobile phone since the app is already logged into my account but everything was messed up there as well. I even tried the margin trading part, nothing was working.

- The order book would delay to load and once it loaded the price range displayed was totally different from the market price
- Placing an order was impossible, Network Request Failed kept on appearing on the screen
- My wallet overview was totally blank, no total asset value displayed. All withdraw, Deposit and Transfer buttons now working

 

I don't know whether it was/it is manipulation, but one thing for sure, during volatile market times, avoid trading as much as you can. If you have open positions, then that's unfortunate in case the market is going against you.

I have also seen complaints about Coinbase, kraken and group in the past.

[Zoomic]

Although it's unethical for exchanges to do so, but remember that exchanges are operating because they are holding people's money in a way or the other. If there is a great panic and they allow everyone to withdraw their money, it will liquidate the exchange and this is what they are guarding against.

However, that behaviour is unethical and should be prohibited. The people I see that pattern is always casinos who deliberately delay pay outs.

[Z390]

That's only happening at Binance and Coinbase. I also faced the same issue that i can't withdraw or buying the tokens when it's dumping to the floor.  The exchange themselves who can only buy the dip.

Hundreds of complains regarding this can bee seen on their social accounts. It makes no sense to see those big exchange sites facilitate wintermute to dump all of their portfolios at the same time.

Thanks for Binance and Coinbase for this great manipulation, and ruined my potential profits from buying the dip.

There is actually an update from Binance some hours ago that they want to pay every users that lost money in the this bug, I don't know how serious they are about it but I hope you get some if not all your money back. If they can noticed the huge losses then it is likely more than we thought. Now that they are even showing some sign of sympathy says alot.

[Z390]

This was me in 2020. I experienced it first hand.

I used to think the stories of exchanges freezing were just myths until I experienced it with Bitmex sometime back and that was the last time I used it. Today, I was a victim again of this kind of freezing but this time round with Binance.

Shortly after the price had started spiking, I had some USDT in there that I wanted to convert to ETH or BTC to avoid missing the rally past $20K but logging into the Binance website wasn't even possible.

 

I made a beeline for my mobile phone since the app is already logged into my account but everything was messed up there as well. I even tried the margin trading part, nothing was working.

- The order book would delay to load and once it loaded the price range displayed was totally different from the market price
- Placing an order was impossible, Network Request Failed kept on appearing on the screen
- My wallet overview was totally blank, no total asset value displayed. All withdraw, Deposit and Transfer buttons now working

 

I don't know whether it was/it is manipulation, but one thing for sure, during volatile market times, avoid trading as much as you can. If you have open positions, then that's unfortunate in case the market is going against you.

I have also seen complaints about Coinbase, kraken and group in the past.

Logfiles it is crazy how you still have this screenshot since 2020, I did once and I lost it all because I've changed my phone two times already since the Covid period, I am happy that you still have this, it's evidence in details.

Some people forget things very fast, many would argue with you today that similar event never happened in the past, but since there is no clue anymore there will be no way to proof anything, you did well friend.

[julerz12]

This isn't news; this has been happening every time the market gets crazy. Either there are just too many users wanting to get into their platform, or there is an urgent "technical issue"; those are the most common reasons these exchanges usually give to their users. Coupled with delayed deposits, withdrawals, and many other things that usually go wrong with a centralized exchange. At this point, I wouldn't be surprised if their reason is that a 400-meter meteor hit their servers and went down in a blaze. LMAO

[NotATether]

This isn't news; this has been happening every time the market gets crazy. Either there are just too many users wanting to get into their platform, or there is an urgent "technical issue"; those are the most common reasons these exchanges usually give to their users. Coupled with delayed deposits, withdrawals, and many other things that usually go wrong with a centralized exchange. At this point, I wouldn't be surprised if their reason is that a 400-meter meteor hit their servers and went down in a blaze. LMAO

I would have believed that too, if they weren't renting data center power and CDNs from all over the world. So it would have to be a giant, earth-sized meteor that completely smashes earth, to take down the exchanges. (But then that would kill all cryptocurrency too, and pretty much everything else on earth.)