Bitgait.com will fight manipulation with a new tool06.11.2022
Bitcoin Exchange Bitgait.com will introduce a Shimmer tool designed to detect suspicious activity and ensure fair conditions for traders to work.
First of all, Shimmer is aimed at identifying the so-called “laundering trade”, which consists in the simultaneous purchase and sale of assets in order to create the illusion of high trading activity.
Also, the solution should help eliminate the so-called “layering”, which involves the issuance and subsequent cancellation of orders to distort the real situation with supply and demand for a particular token.
The mechanism of Shimmer’s work is to search for situations deviating from the norm, followed by the connection of a monitoring group Bitgait.com. The company’s specialists receive a summary of any suspicious trading patterns for all pairs offered on the cryptocurrency exchange and assess the feasibility of taking follow-up actions.
“Various actions may follow depending on the severity of the situation”, explained the CEO of Exbitcbulls.com Justin Hance.
The priority, according to him, is always the interests of the bitcoin platform community.