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Huobi Opens Russian Office

  • Antony Koroid
    📰 News

    Huobi is to open its first office in Russia to run a Blockchain project acceleration center, develop local mining hotels and quarries and provide profile training

Huobi Opens Russian Office
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One of the world’s largest cryptocurrency exchanges, Huobi is to open its first office in Russia to run a Blockchain project acceleration center, develop local mining hotels and quarries and provide profile training.

The Russian branch of Huobi will open on Nov. 12 at 10:00 a.m. Moscow time, said Sergey Grachev and Edward Chen at the Blockchain Life conference in St. Petersburg.

The company’s website will be localized into Russian, and the exchange will launch a Russian online support service, a call center, and account management.

The Russian office will also be engaged in the development of a Blockchain project acceleration center, which will be aimed at supporting promising Blockchain startups, noted Grachev.

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The education program will be run in cooperation with leading Russian universities, including Plekhanov Russian University of Economics and Moscow State Institute of International Relations.

Grachev also said that Huobi’s leading experts will deliver lectures on “civilized” asset management and automated algorithmic trading.

In addition, Huobi will help with creating so-called mining hotels in Russia. These facilities are on the rise in the country now. They offer fairly inexpensive “housing” for small mining farms with no place to be located. Rental rates of these services depend on the mining device’s capacity.

In August, the Huobi Group launched Institutional Trading — an exclusive channel for institutions to provide a safe, compatible and fast input-output of valuable assets.

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OKEx, Bit-Z, CoinBene and Other Exchanges Use Different Mechanisms to Inflate Their Trading Volumes

  • Alex Morris
    📊‍ Infographics

    🔊😱Fraudulent exchanges can ‘add noise’ in order to make their faked trading volumes seem more authentic 👀

OKEx, Bit-Z, CoinBene and Other Exchanges Use Different Mechanisms to Inflate Their Trading Volumes
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Contents

Crypto Integrity has recently revealed the mechanics of wash trading that are employed by major cryptocurrency exchanges. OKEx, one of the leading exchanges, also appeared on the list of exchanges that disguise their real trading volumes.

Many faces of wash trading

The study singles out three main wash trading mechanisms that differ in the difficulty of implementation:

  • In-spread trades without limit orders. The exchange reports the trades that do not appear in the order book at all. This instrument is popular with fledgling exchanges since it mitigates all risks that pertain to wash trading. OKEx, Bit-Z, CoinTiger, and other exchanges were involved in this activity.    

  • In-spread trades with short-lived limit orders. The order appears in the order book for a minuscule fraction of a second, which makes it impossible for any traders to see it (unless we are talking about automated bots). Short-lived orders have been noticed on CoinBene, Bitmart, and IDAX.  

  • Trades near bid-ask caused by short-lived limit orders. In this case, traders try to disguise their malicious activities by placing orders of different sizes and with different life duration. OKEx is the only exchange to use the most sophisticated form of wash trading.          

A mundane thing

As reported by U.Today, wash trading is extremely prevalent in the cryptocurrency space. In fact, an earlier study showed that seven out of ten exchanges that occupy the top 10 spots on CoinMarketCap (CMC) report fake numbers.

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