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$H This time, the spending was too reckless. If no one steps in, the rules of the crypto world will truly become a joke. Don't project teams directly control market makers' accounts?
The normal logic is: when over 90% of the on-chain spot has been sold off, the price in CEXs will eventually catch up. But $H refuses to do so; it exploits the time difference between closing deposits and withdrawals to create a vacuum zone. On one side, on-chain blood is flowing, project teams cash out and run; on the other side, the contracts in CEXs are skyrocketing, specifically targeting those clever traders who think "coins that go to zero must fall."
This is no longer a simple issue of price fluctuations; it’s a collusion between project teams and market makers to orchestrate targeted explosions. They used to consider the selling pressure on-chain, but now, with a hacking incident, spot and derivatives are physically separated. It’s like a company going bankrupt, but its stock is still being forcibly pumped on the exchange.
What’s most terrifying is that if this method becomes widespread, the big players will find the perfect exit route. If they can’t control their chips? Just stage a hack. Want to harvest the shorts? Just stage a hack. As long as deposits and withdrawals are cut off, retail traders on the exchange are just fish on the chopping block.
In today’s crypto world, the cost of doing evil is ridiculously low, practically at rock bottom. The concept of a bottom line is truly worthless in the face of profit.