Dear users,
While Tapbit’s contract trading mechanism has been gradually improved, in recent days, it has been plagued by maliciously brushing acts one after another, which have affected many other users’ daily transactions. In order to allow users to have a more fair and equitable trading environment, the platform has banned users who have maliciously brushing act in recent days.In order to prevent such problems from recurring in the future, the platform hereby makes an exact definition of illegal brushing transactions:
- The daily transaction times of a single UID ≥ 300 times (opening or closing a position is counted as 1 time), it will be defined as [high-frequency order brushing].
- The agency account rebates commissions to its associated accounts or transfers commissions to other accounts, it is considered a brushing operation.
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If there are multiple linked account transactions or activities such as simultaneous long and short positions (wash trading), it is considered a brushing operation.
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If there are ≥ 20 orders within one hour, and the time interval between any two consecutive orders is less than 2 minutes, it will be considered [high-frequency order brushing].
The rules of the platform need to be followed by everyone, and the platform has formulated corresponding punishment measures for accounts that violate the rules to varying degrees. The trading account system for high-frequency order swiping will be processed as follows:
If a user triggers high-frequency order brushing, the platform will restrict their trading and withdrawal activities. Commissions and profits generated from such violations will be deducted.
The platform reserves the right to deal more severely with serious accounts.
*Note: The specific number of daily transactions listed above is only one of the reference standards. The platform’s risk control technology will automatically identify based on transaction behavior data, and the platform has the final right to interpret the determination of high-frequency trading. If you have doubts about the suspension of the account, please contact the online customer service anytime.
Tapbit Team
