Bithumb’s trading volume boom hints its involvement in Bitcoin wash trading

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September 4, 2018 by
Bithumb’s trading volume boom hints its involvement in Bitcoin wash trading

Bithumb, an Oriental crypto exchange saw an unexpected rise in trading volume. It is assumed that due to using Bitcoin in laundry trading. This event has shown up among the cryptocurrency investors and also investors. This was prominent from recently when the rate surge happened. Alex Kruger, a popular trader that is handling digital currencies have actually stated that a majority of Bitcoin is being used by the traders to reach the target around $9 million on the cryptocurrency exchange.

Alex Krugger, the investor in his official Twitter account has actually divulged about his instinct concerning the task of clean trading which was conducted by Bithumb. He tweeted,
On Twitter, the renowned social networks website he uploaded a variety of tweets connected to this concern. Inning accordance with him, the trading quantity of Bithumb enhances at a particular time i.e. at 11 am according to the Oriental Standard Time. According to his declaration, because August 25, 2018, the increase in $250 million increase in false trading results from the airdrops which were prepared by the exchange at a particular time. A tweet claimed,
There is presently USD 250 numerous fake volume traded at Korean crypto exchange Bithumb, everyday at 11 AM Korean Time, because the 25th of August. My Tweet storm covers the mathematics behind it in easy terms. Laundry trading highlighted.
Previously it was stated, the investors virtually gain $9 million everyday especially at 11 am by out trading almost 31k Bitcoin. Last week, this exchange platform traded 252 billion Oriental Won which was carried out with using Bitcoin and also other cryptocurrencies are included for the trading of 26 billion Korean Won. Kruger has made it clear that if the traders are holding the full amount as the rebate, a single or a few of them will be having a quantity which is almost 279 billion Oriental Won per day.

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