To safeguard the trading experience of our community, standardize market trading behavior, and protect the rights and interests of investors, Bitbase will monitor and identify users who engage in abusive or illicit arbitrage activities through multiple accounts or devices using multi-dimensional risk detection mechanisms.
If such activities are detected, Bitbase reserves the right to take appropriate actions against the relevant accounts, including but not limited to enhanced KYC verification, account suspension, asset freezing, and login restrictions.
I. Abnormal Trading Behaviors and Enforcement Measures
1. Abnormal Trading Behaviors Defined by the Exchange
1.1 Market Overtrading: Abnormally large intraday position-opening volume.
1.2 Self-trading;
1.3 Aggregated positions across related accounts under common control exceeding the exchange’s position limits.
1.4 Using related accounts to conduct matched orders or wash trades in order to manipulate market prices and obtain illicit profits.
1.5 Illegally obtaining another user’s account credentials or conducting unauthorized transactions through related accounts to transfer funds.
1.6 Using one or more accounts, including related accounts, to conduct wash trades and create artificial trading volume.
1.7 Unauthorized quantitative or arbitrage transactions;
1.8 Using personal or multiple accounts for AB-subscription trading;
1.9 Engaging in high-frequency trading or conducting abusive high-frequency trading activities using automated programs.
1.10 Abnormal convergent trading involving related accounts;
1.11 Trading accounts on behalf of others;
1.12 Engaging in very short-term trading (frequent intraday opening and closing of positions);
1.13 Price manipulation or any other malicious market behavior;
1.14 Exploiting platform vulnerabilities or other unreasonable means to harm other users or the Bitbase platform;
1.15 Engaging in any other activities deemed harmful to the market by Bitbase;
1.16 Using multiple devices and accounts for fee brushing, hedging, etc.
2. Exceeding the Exchange’s Intraday Position-Opening Limits
2.1 Opening positions in quantities exceeding the exchange’s intraday position-opening limits for a specific trading product within a single day, including but not limited to Bitbase spot, futures, and margin trading.
2.2 The open position volume of a specific trading product within a single day (including but not limited to Bitbase futures trading, spot trading, margin trading, and leveraged ETFs) exceeds the daily open position limits set by the exchange.
Bitbase may impose management measures on activities suspected of disrupting market order, including but not limited to high-frequency trading, malicious position openings, or inducing other users to place orders. Such measures may include account suspension, increased trading fees, or other appropriate restrictions.
3. OTC transactions suspected of money laundering, fraud, or malicious trading
3.1 Account Misuse or Trading on Behalf of Others:
Where the platform’s risk control determines that a user’s account has been sold, lent, rented, or otherwise entrusted to others for use, or that the account is used to trade crypto assets on behalf of others, with suspected involvement in money laundering.
3.2 Receiving or Introducing Illicit Digital Assets or Funds:
Where a user knowingly, or reasonably should have known, that the digital assets or funds received from other platforms or group chats are illicit or associated with illegal activities, yet disregards such risks and transfers them into this platform, thereby engaging in suspected money laundering activities.
3.3 Risky Trading Involving Mismatched Payment Information:
Engaging in transactions without binding valid payment information consistent with the user’s verified identity, or providing buyers with payment methods that do not match the identity verified on the platform.
3.4 Falsely marking an order as paid without making payment and fabricating transfer records; or falsely claiming non-receipt of funds after payment has been received.
3.5 Frequently canceling orders, adding risk-related remarks in payment notes, maliciously taking underpriced orders, or engaging in other abusive trading behaviors.
3.6 Other illegal or unauthorized transactions.
4. Measures for Abnormal Trading Behaviors
4.1 Immediate suspension or termination of your account and access to the platform, and confiscation of any illegal gains.
4.2 Invalidating all trades related to ultra-short-term trading activities (i.e., rolling back the relevant trade data).
4.3 Closing all positions involved in ultra-short-term trading activities at the current market price.
II. Types and Enforcement Measures for Wash Trading, Coordinated Multi-Account Trading, and Abusive High-Frequency Trading
1. Types and Characteristics of Matched Orders
1.1 Password theft
Password theft refers to using stolen trading credentials to engage in matched transactions between accounts under one's control, disrupting trading order to transfer funds.
1.2 Matched orders between related accounts
Conducting pre-arranged trading between two or more related accounts, where orders are placed at the same price within the same time period through prior coordination or agreement. One account deliberately buys at a higher price and sells at a lower price to incur significant losses, or buys at a lower price and sells at a higher price to generate significant profits, thereby transferring funds from a client’s account to the trader’s own account.
1.3 An entrusted person use matched transactions to transfer funds from client accounts to their accounts using related account trading.
1.4 Criteria for determining related accounts: similar registration times, identical registration IPs, and similar deposit and withdrawal addresses.
2. Types and Indicators of Wash Trading, Coordinated Multi-Account Trading, and Abusive High-Frequency Trading
2.1 Multiple related accounts place orders on the same trading pair within the same time period, in the same direction, with similar position sizes and similar opening and closing prices.
2.2 Using one or multiple related accounts to place buy and sell orders for the same products during the same period, utilizing manual or pending order trades to open and close positions;
2.3 Rapid opening and closing of positions within a short period of time.
3. Enforcement Measures for Matched Trading, Wash Trading, and Other Violations
According to the exchange’s relevant rules, users engaging in violative trading activities may be subject to penalties, including but not limited to orders to rectify their conduct and confiscation of illegal gains.
Bitbase strictly prohibits unfair trading practices.
If you engage in any of the following activities, Bitbase reserves the right, at its sole discretion, to impose risk control measures or management actions on your account:
-Engaging in price manipulation or any other malicious market conduct;
-Exploiting vulnerabilities of this service or using other unreasonable means that may harm other users or the Bitbase platform;
-Participating in any other activities deemed by Bitbase to be harmful to market integrity;
-Using multiple devices or accounts to generate trading fees, conduct hedging activities, or engage in other abusive trading practices.
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