Hereby informing you of an ongoing price manipulation scheme of the QuantStamp (QSP) token at the Gate.io exchange, in which are involved at least several Binance user accounts (see below for tx and Ethereum wallet addresses).
Over the course of several days the following has and still is being observed and documented:
- The scheme is operational 24/7 since (but not restricted to) 2 Feb 2018
- The schemed effectively farms QuantStamp (QSP) tokens by deceiving buyers and sellers with false entries in the order book. This activity is being captured on screen as of 2-3 February 2018 at the Gate.io exchange.
- A trace of the tokens and wallet addresses involved implies a larger time-frame than is being observed.
- The ongoing nature of the scheme implies more than one individual being involved, and/or the possible presence of an automatic trading mechanism / bot.
- The volume of the tokens involved / the accumulated amount at "offshore" Ethereum wallets by far exceeds 100000 USD (5000000 QSP tokens), at the moment of typing.
- In one main beneficiary wallet address connected to the price manipulation scheme has accumulated at least 4000000 QSP, currently static, at the moment of typing.
- At least 50000 to 1500000 QSP tokens are currently moving cross exchange (Gate.io <-> Binance), over the course of one day until the moment of typing.
- The transaction volume per transaction/account does almost never exceed 10000 USD.
- Cross exchange trading has been observed from Gate.io to Binance, Bitfinex, KuCoin, and possibly Bittrex.
- Skimmed amounts of QSP on the Gate.io exchange eventually is withdrawn to intermediate Ethereum wallets outside of the Gate.io exchange, in amounts <10000 USD, and thereafter transferred to one or several main beneficiary Ethereum wallets.
- At least one main beneficiary Ethereum wallet retraces in the blockchain to withdrawals made from Binance user accounts, and to withdrawals made from Gate.io user accounts, in withdrawal amounts never exceeding <10000 USD.
blabla
At the moment of typing 40000 QSP moved from Gate.io to Binance, an amount just below 10000 USD at the current rate:
Gate.io exchange wallet address for QSP:
https://etherscan.io/toke(...)ffd6d846c9c54c7cf94cIntermediate Ethereum wallet address:
https://etherscan.io/toke(...)b8b227e95a6468a46d45Binance exchange wallet address for QSP:
https://etherscan.io/toke(...)d833d26ba9b5c936f0betx of the withdrawal on Gate.io:
https://etherscan.io/tx/0(...)f65087e647939fac8982hash of the the deposit on Binance:
https://etherscan.io/tx/0(...)1468699bbe3bd65f9058 Notice the deposits in the Binance exchange wallet in the same time-frame. The same pattern is going on for days. A large deposit just below 10000 USD, accompanied by a few smaller deposits.