Only after watching this do I understand, so this is how market makers operate? Our retail investors are daily competing against market makers manipulating hundreds of accounts? Can we win?
PANews
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Dialogue with Bitget High-Frequency Market Makers: 'All Profits Earned by Skill', First Restoring the Entire Process of the 43 Million USD 'Profit' from the VOXEL Incident
In this VOXEL incident, market maker qntxxx accepted an interview with Wu, stating that they made a profit of 43 million USD through 100 sub-accounts, withdrew about 10 million USD, and Binance froze several hundred thousand USD. He stated they will not compromise, have already hired a lawyer, and believe that based on the principle of fair trading, they are trading from the order book, not deliberately exploiting loopholes or attacking BG's servers. Therefore, this profit (43 million USD) should all belong to their team.
Bitget responded: These 8 accounts suspected to be related to a professional group of profiteers were the main instigators of the VOXEL incident, unlawfully profiting over 20 million USD. The recovered funds will be distributed 100% in the form of airdrops to platform users. Besides these 8 accounts, all other retail users who participated in VOXEL trading between 16:00 and 16:30 on April 20 and have withdrawn funds (about 19 million USD) will have their accounts restored to normal on Wednesday and will not be held accountable in the future.
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