The events of October 10 led to total crypto liquidations exceeding $20 billion, with an alarming 208,864 traders liquidated in just the past 24 hours, amounting to approximately $691.63 million in losses as a result of the ongoing correction.
The manipulators cleared all the longs to 1.8x illegally. This had nothing to do with crypto. This is centralized exchange and casino systems that are opaque and easily manipulated with no regulation.
He also added that those responsible for this alleged manipulation would face scrutiny, predicting that this incident could evolve into one of the most significant fraud cases in financial history.
Emre asserts that the exchange can open short positions on multiple trading pairs simultaneously using private trading bots, which can then quickly sell the tokens held by users.
After closing the short positions at a lower price, the expert alleges that the exchange replaces the sold tokens with their own at a significantly reduced cost.
As the dust settles from the October 10 crypto crash, it remains uncertain whether regulatory bodies or individuals will take action against these alleged practices in the near future, as predicted by MartyParty.
Featured image from DALL-E, chart from TradingView.com
