from ZeroHedge:
Crypto exchange BitMEX is currently investigating “unusual activity” involving large sell orders on its BTC-USDT spot market overnight that sparked a flash-crash dragging the price of BTC (in USDT) down below $9,000 (while the price remained above $66,000 on other exchanges)…
Doesn’t seem like a very smart move for the ‘rogue seller’ to dump over 400 BTC at that time of day into an illiquid market – why not wait until the US BTC ETF market is running its magic and sell into that liqudity?
TRUTH LIVES on at https://sgtreport.tv/
🚨BREAKING: A ROGUE SELLER ON BITMEX BTC SPOT MARKET RAPIDLY SOLD OVER 400 BTC BRINGING THE PRICE TO AS LOW AS $8,900 pic.twitter.com/HKxhdxmsu9
— Blockchain Daily (@blckchaindaily) March 19, 2024
The USD price of BTC has been falling ever since…
A spokesperson for BitMEX said the company investigated the incident and found evidence of “aggressive selling behavior involving a very small number of accounts that exceeded expected market ranges,” adding that its systems had operated normally and all user funds are safe.
“We launched an investigation as soon as we noticed unusual activity on our BTC-USDT Spot Market. Despite all our systems operating normally, we identified aggressive selling behavior involving a very small number of accounts that exceeded expected market ranges. Our compliance is thoroughly investigating relevant individual accounts, and will keep our users appraised of any necessary measures in the future,” BitMEX spokesperson further told Cointelegraph.
“Someone just dumped 400+ BTC over 2 hours in 10-50 BTC clips on the XBTUSDT pair on Bitmex eating 30%+ slippage. They must’ve lost $4m+ at least,” pseudonymous crypto community member “syq” wrote.
