Kaka_Ray

A little over a week ago we detected active market manipulation on our token that was being carrier out as a multi-venue strategy with an overwhelming short-bias active. We are currently working with our trusted partners and their internal market surveillance teams to identity and stop the bad actor. We have active market surveillance logging as well, and have internally already collected gigabytes of data. To be abundantly clear, we do NOT believe any of our CEX partners are involved in this. We cannot say the same for CEXs we had no relationship with who listed our token on their own (such as MEXC where the most instances of spoofer orders are being logged). Earlier today myself and a group of 20 of our top token holders actively deployed a strategy to combat the on-going price suppression via order book spoofing. Our goal was to hurt the profitability of this bad actor without getting into an all out capital war. In short: we wanted to hurt their profitability through a series of unpredictable actions. This takes a lot of coordinated effort but we almost immediately noticed instances of order spoofing reduce and change shape as their (most likely automated) system struggled to adapt to what was very intentionally unpredictable from our side. Again, we trust and believe that working with our great CEX partners will put a stop to this behavior moving forward. Until that happens we will continue to make their life as miserable and unprofitable as possible. How you can help: Don’t high leverage long this token. If you want to transact with the token (either buy or sell) do so as you normally would, via responsibly sized spot orders. As I hinted at in my post a few days ago, pay very little attention to CEX order books. Rely on your personal conviction, not intentionally noisy signals meant to confuse and persuade you to take actions. If your conviction says to sell, than you should. If your conviction says to HODL, than you should. If your conviction says to buy, than you should. More to come. 🫶🐋