To maintain a fair and just trading environment, the Megabit platform has always strictly enforced risk control measures and continuously monitors all trading activities. Between September 20, 2024, and October 1, 2024, the platform’s risk control system detected abnormal trading activities by some users during small-cap cryptocurrency transactions. These actions violated multiple risk control regulations of the platform, seriously disrupting the normal trading order. The specific violations include:
1. Market Manipulation: Manipulating market prices and unfairly profiting by conducting matched orders or wash trades through linked accounts, thus disturbing market fairness.
2. Price Manipulation: Participating in price manipulation or other malicious market behaviors, creating unfair disadvantages for the platform and legitimate traders.
3. Profiting from Exploits: Illegally profiting by exploiting system or service loopholes, causing harm to other users and the platform.
4. Abnormal Synchronized Trading: Linked accounts engaging in abnormal synchronized trading, attempting to evade the platform’s risk controls and disrupting the normal trading environment.
These violations have not only caused potential financial losses to other legitimate users but have also severely affected the platform’s trading environment, violating the platform’s relevant risk control regulations.
List of Violating Accounts:
•1002878
•1002465
•1002447
•1002359
•1001858
•1002874
•1002671
•1002421
•1002403
•1002521
•1002525
•1002517
•1002519
•1002512
Based on these violations, the platform has taken the following actions against all offending accounts:
•Freezing of All Linked Accounts: All accounts involved in illegal arbitrage have been restricted by the risk control department and can no longer perform any transactions.
•Confiscation of Illegitimate Gains: All commissions and profits obtained through illegal means will be fully confiscated to ensure fairness across the platform.
•Reserved Right to Pursue Legal Action: Due to the significant damage caused to the platform, the platform reserves the right to take further legal action against the offending users.
Megabit is committed to providing a secure and fair trading environment for all users. We once again urge all users to adhere to platform regulations and refrain from any illegal activities.
Megabit Team
October 2, 2024
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