Crypto Trader's Worst Nightmare: Dealing with Unfair Trading Pairs and Arbitrage Scams

[Кошечка Настя]

Just had my latest trade go up in smoke due to an arbitrage scam on Binance. The fees were ridiculously high and the trading pair was completely manipulated. Has anyone else had to deal with something similar or have some tips on how to avoid these traps?

 

[levan94]

Discussion: opportunities

 

[дедушка11]

Preach, fam! I had a bad experience with a shady exchange that kept changing the trading pair rates to their advantage. Ended up losing a solid chunk of my crypto stash

 

[TTu3gIOk]

Discussion: latest news

 

[bax]

Discussion: market updates

 

[neoden30]

Discussion: new trends

 

[Buer]

Thoughts on strategies?

 

[samira tahery]

Discussion: new trends

 

[лариса73]

I totally feel you, been there done that with that shady exchange that had 1% fees on all trades. Had to jump ship pretty quick when I saw the arbitrage opportunities were rigged too. Changed my strategy to focus on centralized exchanges with transparent fees and fair trading pairs.

 

[Varten]

I've lost a decent chunk of change to an arbitrage scam last year. Turns out, the "pair" they offered was essentially a Ponzi scheme, promising unrealistically high returns for a "guaranteed" arbitrage opportunity. Glad I didn't invest too much, lesson learned.