Karpeles Admits to Running WillyBot ... - Bitcoin Insider

04-26 02:13 - 'Bitfinex goes insolvent around the time of the April bubble, coincidence? No.' (self.Bitcoin) by /u/whyubreak removed from /r/Bitcoin within 6-16min

This is Willybot all over again.
CryptoTrading claims 850mil is "seized" by officials. Bitfinex/Tether co obtain a 900mil line of credit with a 6.5% interest rate. Markets see unprecedented buying action, with Bitfinex as the leading exchange, leading to the 20k USD bubble.
You can't tell me that the timing of this is all coincidence. This is the exact same thing that happened with MtGox and it's market manipulation effort to pay back its losses.
On March 29, after further discussions, the representatives disclosed in a letter to the AG that the credit line had been closed and “during November 2018, Tether transferred $625 million held in its account at Deltec to Bitfinex’s account at Deltec.
Ergo, Tether is not currently backed by a reserve (unless they have access to another credit line we aren't aware of, seems unlikely though). Ergo, most of this market is propped up by money that does not exist. So people can stop saying that this news "shouldn't impact Bitcoin", because it clearly should and will.
Bitfinex goes insolvent around the time of the April bubble, coincidence? No.
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Author: whyubreak
submitted by removalbot to removalbot [link] [comments]

Conspiracy Theorists: What are all the illegal or very shady things exchanges have done and gotten away with thus far?

Been casually reading up on the history of cryptocurrency exchanges, and stories like this one of the WillyBot at Mt. Gox I find really fascinating. It's piqued my interest to find out more about other (either confirmed or rumored) things exchanges have done.
I know exchanges like HitBTC have been accused of withholding user's funds without explanation (and perhaps worse). But what about other things, perhaps shady growth tactics. Like for example, last NovembeDecember Kucoin really exploded onto the scene. Granted this was during the major bull-run of last year, but seemingly every new coin they were listing seemed to explode in price. Speculatively wondering how much of that was real, as opposed to Kucoin themselves buying up the asks of coins getting listed on their own exchange to pump the price, and entice more traders in turn to notice them and sign up. There's nothing in theory preventing them from doing that, correct?
Alternatively, what's to stop exchanges from publishing fake volume data via their api for cmc to report to the rest of, and in turn encourage us to sign up chasing better coin liquidity. Is there anyway to confirm that?
Maybe you guys know of other things exchanges have done and/or are doing, both confirmed or rumored. Would love to read more about this. Thanks in advance.
submitted by defacto_hedonist to CryptoCurrency [link] [comments]

The Christmas Effect.

I am predicting a steady rise back up to the ATH over the next 2 weeks. This is due primarily to the Christmas Effect as I have christened it. A gathering of families at this time of year has ensured that a mixture of all ages have been together, in a happy mood, with alcohol and the chat has turned to Bitcoin. Enthusiasts had a chance to convert members of their own family, some might be cash rich but brain cell poor , some might be struggling and looking to better their lot.
It's a great opportunity to get more new bagholders. Exchanges should be taking advantage of this window to willybot it all up thus making it look attractive to the noobs. It will take some effort, lots of Tether, and shenanigans to prevent/slow down real fiat withdrawing by existing bag holders but I reckon it can be done.
If they can get it spiking up near the CBOE expiry date of 17th Jan even better. VERY newsworthy if CBOE longs show a huge profit, will suck in even more.
Watch the graphs over the next 2 weeks, promises to be VERY interesting. I reckon this might be the first AND the last new ATH for 2018. Popcorn is ready!
submitted by sietemeles to Buttcoin [link] [comments]

Lets not kid ourselvrs: Price is up because of Willybot 2.0 in China

I call bullshit on BTCChina's Bobby Lee's explanation regarding the recen rise in the price of bitcoin.
It has nothing to do with VAT in Europe and there's no proof of increase usage.
The only two facts that are beyond question are:
  1. The price began to rise shortly after Gemini was open for business.
  2. The price surge has been very clearly been led by chinese exchanges.
I'll add a third factor: Reddit users caught two bots being used in OK Coin and Huobi leading the rally. The Hiobi bot seems to be reacting to the OK Coin bot.
This can only mean one thing: we're witnessing Willybot 2.0.
Don't get me wrong. I like the price to go up. But once these new bots are done pumping up the price there's going to be a huge crash. Just like in 2013.
So be prepared. Get your coins ready to sell at the exchange of your choice, because the more the price rises, the hardest it will crash.
submitted by toliro to Bitcoin [link] [comments]

MASSIVE BITCOIN BREAKOUT COMING TOMORROW!!!!!!!!!! - YouTube Cryptocurrency & Money Laundering - YouTube Kim Nilsson's on His Investigation Into Mt. Gox - YouTube Max Keiser - Future of Money is Gold, Silver and Bitcoin ... Today in Bitcoin (2017-07-12) - Segwit2x, Bitcoin Falls and the Willy Bot is real

This bot is largely held responsible for the enormous crash in Bitcoin’s price in 2014. This makes sense, because if Bitcoin’s price was -at the time- only being held up by a massive amount of ... To be more specific, the Willy bot is responsible for buying large amounts of bitcoin on the exchange over a six-week span. Given the low bitcoin price at that time, it appears the bot had access ... To be more specific, the Willy bot is responsible for buying large amounts of bitcoin on the exchange over a six-week span. Given the low bitcoin price at that time, it appears the bot had access to enough funds to purchase about 250,000 bitcoin. Up until that point, there had never been such a high demand for bitcoin, which sent the price rocketing to its all-time high with relative ease. Updated news about bitcoin and all cryptocurrencies. Karpeles Admits to Running WillyBot, Pleads Not Guilty to Charges. Most Bitcoin users experienced the MtGox disaster first hand or heard accounts of it from other users. Mark Karpeles -the chief executive of MtGox- is standing trial on charges of embezzlement and data manipulation in the Tokyo District Court. He has plead not guilty to these ... The bot reportedly started operating in September 2013. The bot would buy large amounts of bitcoin over a six week span. Reports show that the bot was able to purchase approximately 250,000 bitcoin. Some reports even show that the Willy bot accounted for 30 to 50% of Mt. Gox’s entire trading volume – which is a significant amount, to say ...

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