laatste update: 05-2022
Is insider trading going on in the Bittrex exchange? If you were involved in the Zclassic / Bitcoin private crypto fork, you deserve to know!
There were many issues that happened with the Bitcoin Private fork. If you were like me and bought Zclassic on Bittrex prior to the BTCP fork, you might have ran into some serious issues!
Since I was able to make a test transfer off and sent some Zclassic to my private wallet, I thought everything would work out smoothly. But then, when I was going to make a large transfer from Bittrex, the coins were locked!
Bittrex announced last minute that they were going to support the snapshot and distribute Bitcoin Private to all of their users, but the way they executed the whole thing was a nightmare and a lot of people in the crypto community were pissed off as a result.
When the snapshot started Z Classic closed at around 0.01 Bitcoin or one hundred or so dollars. Then trading on Bittrex was frozen for a 15 minute period. When Zclassic trading was enabled again after the fork, ZCL re-opened at $30, basically a 70% drop off!
Even though the fall was expected, the problem is that during the closed period, when all traders were supposedly locked out from dumping their Zclassic coins, trading volume went up 300%! Does this mean that insiders were dumping their Zclassic while everyone else was locked out? Who were the lucky few who got to sell their Zclassic before the fall? Deep thoughts!
If this would have happened in traditional markets, some Bittrex guys would have been in jail. For me, this is the last straw that broke the camel’s back in terms of using the Bittrex exchange. I’m out!
Just look at the charts to see that this is true. After this video was recorded, Coinbase actually got hit with an insider trading class action lawsuit and another class action suit one day after that for their dealings in Bitcoin Cash.
So how do you feel about the way Bittrex handled the Bittrex Private fork and trading on Zclassic? Was insider trading involved? Is this a scam? Are they going to get hit like Coinbase for insider trading?
Let me know in the comments below!
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