Being an everyday crypto trader, I use quite a few different exchanges for various reasons (coin listing, better price, better interface etc). Out of over a dozen platforms that I currently trade on, Poloniex is the "King" of Spoofing and manipulation in my opinion.
Well yesterday they shut down the BTS wallet again; so of course I checked my Binance , ZB.com etc accounts and as I thought no such problem. To me it is just another way Poloniex tries to manipulate the price of BTS. Why you wonder?
I think it is a scam they have to take peoples coins. Think about it, you do your research, you find out that Bitshares leads in tech etc. You look at chart and say WOW and buy in.
Well unfortunately a lot of traders then go on to place Margin positions because you just know it is going to the moon soon. That is where they get you. You have given them the opportunity to manipulate the price (see last post) to get your coins.
So why did they close the wallet yesterday? Simple they also manipulate the price of Stellar Lumens in my opinion as well. BTS and Stellar have been trading in pairs for quite awhile now.
Yesterday Stellar had a big announcement and the price moved up accordingly. This also would generally cause BTS to rise in price as well. So they go to their old trick bag and put that big sign on the trading platform to suppress the price. I mean if there was a real problem with the BTS wallet, the other exchanges would have it as well.
Go test it, send some BTS from your wallet to Binance etc- no problems I just did it.
BOTTOM LINE- Try to use Bitshares to trade your Bitshares, try not to use Poloniex to trade BTS STR. AND NEVER GO INTO A MARGIN POSITION ON THEIR PLATFORM with these coins.
