New WIZSEC Report Points To Definitive Insider Trading At Mt. Gox
In the latest report from WizSec, a Tokyo-based security firm, conclusive evidence has been found of insider trading and price manipulation at the defunct Mt. Gox exchange. The report states this price manipulation started in February 2013 when the price was around US$25 and continued all the way until February 2014 when the price crashed from its all time high above US$1,000. The report concludes that 570,000 BTC were bought in the period between February and November and that this definitely had a meaningful impact on price. WizSec corroborates the findings of the original Willy report,....
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Tokyo-based security firm WizSec has released a preliminary analysis of suspicious trading data leaked from now defunct bitcoin exchange Mt Gox. The exchange suspended its operations in February last year and was subsequently declared bankrupt in March, having lost around 850,000 BTC (more than $450m at the time). Since last November, bitcoin exchange Kraken has worked alongside authorities to support the investigation on behalf of creditors. Meanwhile, WizSec has been working to track Mt Gox's bitcoin transactions in an unofficial capacity. WizSec's release follows the Willy Report, the....
The Bitcoin community has always speculated that Mt. Gox was insolvent before its collapse in early 2014. A new study done by WizSec now confirms this speculation. The study reports that MtGox was insolvent long before it collapsed, with thieves were routinely stealing bitcoin from the exchange’s reserves. The WizSec study also confirms that the majority of the missing Gox bitcoin was stolen by someone on the inside — echoing a report from The Yomiuri Shimbun that the coins were lost due to fraud rather than an external hack. The report cited sources at the Japanese Metropolitan Police....
Tokyo-based Bitcoin Security Specialists Wizsec recently published a protracted report, revealing the suspicious behavior of Mt. Gox trading bot Willy. Due to their non disclosure agreements with the official investigators, the private investigation firm revealed only a handful of details which they believed were "safe" enough to made public. In their censored dispatch, Wizsec elaborated how Willy bought a large number of Bitcoins (around 250,000 BTC) within a specific period. This buyout reportedly was the ultimate source of 2013's famous rally towards $1000 mark. The following graph from....
Mt Gox's missing bitcoins were stolen from the exchange over a period of time beginning in 2011, according to a new report released today by a group investigating its collapse. They were gone long before the company's collapse in February 2014, the report said. Gox had therefore been operating on a fractional reserve basis for most of that time, either knowingly or unknowingly. The stolen bitcoins had been withdrawn and sold off on various exchanges including Mt Gox itself, and given the timing probably at prices far below the 2013-14 highs. Tokyo-based bitcoin security firm WizSec, which....
U.S. officials are reportedly investigating crypto exchange Binance yet again. On Friday, Bloomberg reported that they are examining possible insider trading and market manipulation at Binance. This development potentially adds more heat to the cryptocurrency exchange already facing regulatory scrutiny in many countries. CFTC’s Insider Trading Investigations U.S. officials have been looking into whether Binance or […]