Liquid Crypto Exchange Halts Crypterium (CRPT) Trading after Suspicious Activity
The move is temporary, and the current price data on Coinmarketcap is incorrect, the CRPT team explained.
Cryptocurrency exchange Liquid has temporarily suspended trading in Crypterium (CRPT), the native coin of a blockchain-based payment system, after the placement of a suspicious order, as announced on Monday. The exchange and the Crypterium team are working to resolve the issue and re-start activities.
Liquid, the new trading platform of Quione, decided to freeze CRPT buying and selling services after a trader mistakenly sold 30,000 CRPT on Sunday night. The order led to a sudden crash in the price to BTC 0.00000699, the CRPT team explained in its Telegram post. Several days ago, Quione merged Qryptos and Quoinex to create Liquid, with CRPT migrating from Qryptos to the new exchange.
“Liquid exchange uses a circuit breaker, a well know trading tool that monitors the markets constantly and are triggered upon >=40% price swing. Once triggered, the breaker disables the market immediately,” Crypterium said in the post.
The CRPT team also explained that the current data on Coinmarketcap (CMC) is incorrect as the site received wrong trade information. Crypterium changed hands at $0.31, which was an increase of 32.43% on a daily basis, according to CMC as of the time of writing. The cryptocurrency was traded at BTC 0.00004940, a gain of 32.30%. However, according to the largest Crypterium market, HitBTC, the price was 1.18% down to BTC 0.00004949 as of 08:15 UTC on Monday.
Along with Bitcoin (BTC), HitBTC also offers CRPT trading pairs with Ethereum (ETH), as per CMC. However, the exchange data does not show any support for such a pair. In July, CMC changed listing algorithms in response to fake volume concerns.
Also on Monday, the CRPT team tweeted to warn about a scam involving claims that the project was giving away ETH.
Crypterium is an Estonian cryptocurrency startup launched in 2017. It conducted an initial coin offering between October 2017 and January 2018.