Crypto Exchange Coin Prices Manipulated by Bots, WSJ Claims
Cryptovest
Published Oct 03, 2018 12:37PM ET
Updated Oct 03, 2018 01:41PM ET
Crypto Exchange Coin Prices Manipulated by Bots, WSJ Claims
Automated trading programs, or bots, have taken advantage of US regulatory loopholes to impact virtual coin market performance on crypto exchange operators, the Wall Street Journal reported on Tuesday.
Bots successfully and unrestrictedly are manipulating Bitcoin (BTC) and altcoin prices, the Rupert Murdoch-owned newspaper revealed by quoting four digital currency players, namely Virgil Capital, a venture fund, which has created own bots to counter abusive software programs that want to affect the company’s virtual coin investments; Quatloo Trader, a bot service that presents itself as “the best market-manipulation tool in the world of crypto”; one of Quatloo’s clients, Ryan Wright, who is an US citizen living in Taiwan ; and Coinlist, a platform that offers the issuance of new tokens.
“This sort of activity i...
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