If you check in to Coin Market Cap you might see a surprising vertical spike in there... Aurum Coin has jumped from nearly nothing to over $1750USD in just a few hours!
Is this another example of the 'unusual' behaviour on certain exchanges, such as we saw with Steem a few days ago? Or is this something else entirely?
The exchanges involved for Aurumcoin are not Korean this time, they are:
Cryptohub
Cointopia
CoinExchange
CoinExchange mentions in their newsfeed from a few days ago that:
We have noticed an increase in 51% attacks on smaller bitcoin codebased chains. Please take care and do your own research when investing in smaller coins with less secure block chains. Attacks on these chains usually involve injecting invalid coins which results in CoinExchange.io having more balance internally than we are holding on the real chain due to the false deposits. We are working to actively mitigate these attacks in order to protect these smaller blockchains.
I know that Cryptopia is based in New Zealand, so this isn't purely a phenomena limited to Korean exchanges that are known to have unusual behaviour patterns. Is this a corrupted/hacked blockchain? Or something else?
I did find one [news story](https://www.chepicap.com/en/news/3349/pump-and-dump-glitch-human-error-or-next-big-thing-aurumcoin-up-6000-.html from an hour ago that speculates about some possible causes for the price spike, but they too have nothing certain yet!
What do you think?
Wishing you well,
Ura Soul
Vote @ura-soul for Steem Witness!
(Witnesses are the computer servers that run the Steem Blockchain.
Without witnesses there is no Steem, Steemit, DTube, Utopian or
Busy... You can really help Steem by making your 30 witness votes count!)
Price is Jumped too Big
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
We may never know what is the cause but a jump like that I bet is has a technical origin like "Attacks" and such not like the usual pump and dump scheme which lasts for hours or days. @ura-soul
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Well that was short lived. Dogecoin is holding up though
Posted using Partiko iOS
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Wish I had some and sold at the top...same as Bitcoin and Steem for that matter. I always sell too early or Hold too long.
Posted using Partiko iOS
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit