‘Mt. Gox drove purposefully price bitcoin’

The bankrupt Mt. Gox would be using a number of bots at the end of last year deliberately the price of bitcoin significantly larger extent to the appreciation to be able to take advantage of. The price of the cryptovaluta increased at that time to almost $ 1200.

That sets the weblog Willy Report on the basis of an analysis of bitcoin transactions on the former Mt. Gox. By means of two modified bots in the virtual currency trading would be the bitcoinbeurs, at the time, the largest trading, the share price have increased. The behavior of the bots was, according to the analysis predictable and, moreover, names the virtual traders at certain times, striking positions. The bots would be the price of bitcoin quickly rose, taking the currency in november, the ceiling of $ 1000 broke. The value peaked at around $ 1200. Mt. Gox earned money by a percentage of the bought or sold bitcoins to skim.

The author of the inquiry into the Mt. Gox affair suggests that the results of his investigation pointing to fraud, probably committed from within the former trading place. There are already suspicions that Mt. Gox is not according to the rules played, but that is still not hard. The Japanese company closed down in February its doors after according to the company 850.000 bitcoins would be stolen. A bug in the protocolimplementatie would be the cause.

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