BitMax is one of the known crypto exchanges in the crypto industry and for many investors, it's the first choice. But some investors are the victim of liquidation in an illiquid market because of margin trading, and they doubt the way BitMax works. The crypto market faces various flash crashes and they are common in the market. But there are more severe and darker crimes that take place behind the scenes. The founder and CEO of crypto data analyst firm Lunar Digital Assets(LDA), Han Yoon blamed BitMax for manipulating many IEO projects through pump and dump schemes. Han claims that the market makers have influenced BitMax’s market instead of providing liquidity to IEO projects, they buy their tokens and pump up the price. For liquidity funds, thousands and millions are spent and then they buy the funds which cause the IEO token price to tumble. The victim of one of these scams can be the token of the blockchain-oriented project DeepCloud AI. The work of DeepCloud AI is to build the decentralized cloud computing infrastructures, and somehow, the projects and its team managed to survive the bearish market that happened recently. They raised funds through BitMax, but the market makers wasted these funds.
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USDT
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BNB
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XRP
$1.02
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$73.56
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LEO
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