MtGox Did in Fact Manipulate the Price of BitcoinsteemCreated with Sketch.

in crypto-news •  7 years ago 

Coming from Mark Karpeles's trial in Japan, he has admitted to running the Willy Bot himself.

This is huge news because this bot completely manipulated the market. For years everyone burned by this exchange have speculated that willy bot was run inside the exchange itself. No one ever really knew for sure.
Today in his court case, Karpeles finally admitted what we've been wondering all along. He can claim he didn't launder any money out of the exchange all he wants... It won't change anything. What he did to manipulate the market in his favor is just as bad in my opinion. By running a bot that bought Bitcoin on large volume scales it created a craze that many fell trap to.

He's scum and deserves to go to jail. I, among many others, lost money due to his lack of integrity.
These things make you wonder what other exchanges are doing behind closed doors. Stay safe out there with your money.

Cheers,
@clayford08

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I hope you didn't loose to much money, but that is a sure thing that we have to be carefull and informed because people will always try to con the others. Anyway, thanks for the head's up.

That is the problem, the can and they do whatever they want. If you have read about poloniex lately, be carefull because they are manipulating things aswell. Watch out for manipulation in the cryptocurrency world.. upvoted!

Thanks man. I actually wrote an article about poloniex the other day saying the same exact thing. It's crazy to see how we keep repeating the same mistakes without learning. The parallels are incredible.

It's only a matter of time before the crypto market is large enough it can't easily be manipulated. Scum will always exist in every market trying to pad their own pockets.

That's very true. Remain focused. That's the only combatant to manipulation.

So true theses guys are theifs. I remember reading about this and said to me crypto is to dangerous for me and it kept me out of the market until this year... I wish I had invested back then tough.

Great post.

Thank you!

Thanks for this. We need to have a central warehouse of warning posts like your.
https://steemit.com/poloniex/@thomasaquinasftw/poloniex-is-not-responding-anyone-remember-tulving-com
Here's mine. This is really really similar to a few other ponzi schemes.