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Flash

Papertrade responds to concerns about price manipulation and protocol vulnerabilities: the relaxed position limit in the early stages of launch is the cause, and parameters have begun to tighten

Papertrade's official response to the allegations of price manipulation and the existence of obvious loopholes in the protocol states: It has never been possible for small orders to have the same priority as large orders. If this were done, the front end would suffer from congestion due to junk trading, and the consequences would be much worse than the existing queuing mechanism.Under these constraints, we have designed the fair launch to be as inclusive as possible.Last night, the attempts to manipulate BTC/ETH on Hyperliquid BBO were not due to flaws in the mechanism that took six months to design. These situations had already been considered; it was only because the position limits were set very loosely in the early stages to cope with congestion that such occurrences were possible. If position limits were set during peak demand for launching, it would only exacerbate the slow experience, and the queuing mechanism itself, due to the uncertainty of opening/closing confirmation times, naturally provides protection against manipulation.As congestion eases, we have begun to tighten position limits on-chain and at the relay level. In such a system, manipulation attacks are always possible— the key is whether the attempt is economically viable. The official goal is to set parameters to a point where it is almost never profitable; even if successful, the tail risk is extremely high, and the expected value is negative.

A French woman has been detained on suspicion of manipulating the price of Verasity tokens and had previously purchased real estate worth over 50 million euros in Dubai

According to the French newspaper Le Monde, a 45-year-old woman born in Russia and naturalized in France in 2017, Svetlana A., has recently been placed under investigation and detained by a Paris investigating judge on charges of organized fraud, serious money laundering, and participation in a criminal gang. The French National Financial Prosecutor's Office stated that she and her British partner Robert H. are suspected of committing organized fraud by manipulating cryptocurrency prices, with the related funds suspected to be used for purchasing properties in Dubai.Reports indicate that Svetlana A. invested over 50 million euros in 2022 alone, acquiring about 100 apartments and 3 luxury villas in Dubai, with total rental income from 2022 to 2025 expected to be at least 4 million euros; she also purchased an entire building containing 73 apartments for 68 million dirhams (approximately 17.4 million euros). The cryptocurrency mentioned in the report is Verasity (VRA), launched by her partner in 2018. The price of VRA surged 65 times over a two-and-a-half-month period in the spring of 2021, followed by a significant decline, currently down approximately 99.98% from its historical peak. The lawyer for the parties involved stated that the sources of the related wealth are documented and legal, and they deny any wrongdoing. The case is still under investigation.

first_img Jeff Booth stated that the $1 million Bitcoin target is too small and believes that the dollar-denominated system is manipulated

Writer and author of "The Price of Tomorrow," Jeff Booth, stated in a video interview with Bitcoin Magazine that the price target of $1 million for Bitcoin is "thinking too small." He believes that pricing Bitcoin in a constantly depreciating fiat currency is equivalent to valuing it within a system manipulated by currency devaluation, making such a target invalid. In his view, Bitcoin is not just a token or an asset, but the beginning of a decentralized, secure, and privacy-focused protocol stack, which will ultimately resemble the internet, and it is also the first true free market in human history.In the interview, Booth also discussed AI valuation and technological deflation. He believes that a free market will drive the prices of AI services toward zero, and this deflationary force brought by AI will conflict with a monetary system built on debt. He mentioned the United States' debt of up to $40 trillion, bond yields, and a financial system that is approximately $350 trillion in size and essentially insolvent, linking AI singularity theory, market fear, and monopolistic regulation.In the longer-term section, Booth talked about the adoption timeline of Bitcoin and emphasized that Bitcoin is not just an asset. He also discussed the global expansion of Bitcoin payments and the circular economy, as well as ideas such as private equity supported by Bitcoin and permanently held enterprises, outlining a deflationary future priced in Bitcoin.
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