Re: ShapeBTC.com - unlimited cryptocurrency exchanger
by on 15/12/2025, 21:37:04 UTC
ShapeBTC manipulates exchange rates. On December 9, from 10:20 to 13:30 UTC, it was offering to exchange BTC to USDC ERC20 at a rate slightly above 91,700. At the same time, on exchanges Bitcoin was trading against USDC at around 90,500. So ShapeBTC's offer looked very attractive.
But in reality, if you created an exchange order, it was executed at a rate below 89,300.
Yes, I understand: the exchanger can check the current rate at the moment the client's transaction is received and change it. I would have taken this normally if ShapeBTC had not continued to display an excessively high rate afterward. But they did continue. They knew they would not process exchanges at that rate, yet it kept showing it anyway.
I think I have seen such complaints before, especially on exchangers that get listed on BestChange. The price manipulations are done so that they try to rank high up on the exchange monitor which translates to more ordersBut in reality, if you created an exchange order, it was executed at a rate below 89,300.
Yes, I understand: the exchanger can check the current rate at the moment the client's transaction is received and change it. I would have taken this normally if ShapeBTC had not continued to display an excessively high rate afterward. But they did continue. They knew they would not process exchanges at that rate, yet it kept showing it anyway.
I don't know how Bestchange planned on addressing that issue, but they did confirm that certain exchangers indeed would keep reporting fake prices.