FxFut, short for “Forex Futures,” is a centralized form of Futures exchange in which two parties, through open outcry, buy or sell a foreign currency in a foreign currency and enter into a contract to deliver a standard quantity at a future date at an agreed price.
Foreign EXCHANGE FUTURES, ALSO KNOWN AS CURRENCY FUTURES, ARE FUTURES CONTRACTS THAT convert one CURRENCY into another at the end of THE trading day according TO CURRENT CONDITIONS.
Generally speaking, one of the two currencies is, in which case the futures price will be expressed as “X dollars per other currency”.
The representation of futures prices for some currencies may differ from the corresponding representation of spot foreign exchange rates.
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https://preview.redd.it/qzhy6qit7u5a1.jpg?width=600&format=pjpg&auto=webp&s=df69a307d42ffea66191ffb713637d11a3798dfb
Foreign exchange futures trading is the buying or selling of a certain amount of another currency in dollars at a fixed exchange rate on an agreed date.
Foreign exchange futures trading and contract spot trading have similarities and differences.
Contracts are bought and sold through banks or companies, and foreign exchange futures are bought and sold in special futures markets.
The main futures exchanges in the world are: Chicago Board of Trade, New York Mercantile Exchange, Sydney Board OF Trade, Singapore Board of Trade, London Board OF Trade.
The futures market should include at least two parts: one is the trading market, the other is the clearing center.
After THE BUYER OR SELLER OF FUTURES TRADES ON THE EXCHANGE, THE CLEARING CENTER BECOMES its COUNTERparty until the actual delivery of the futures contract.
Forex futures and contract forex trading are related to each other and differ from each other in the way of operation.
When BOTH SIDES OF THE TRANSACTION ARE ENGAGED IN FOREIGN EXCHANGE CONTRACT SIGNING, CLEARING CENTER WILL UNDERTAKE THE REQUIREMENT OF ENTERING GOLD TO BOTH SIDES OF THE CONTRACT, AND THIS amount IS THE DEPOSIT.

Good Day, Apes!
I originally dropped my research into this a month ago, due to hitting a cold trail. However, in light of the many requests I have gotten from Apes to continue the research, as well as the resourceful leads I received from Apes, such as “throwawaylurker012” and “Wurmholz”, I decided to continue digging, and I have now collected enough evidence to produce this DD post.
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BCG & Goldman Sachs Were (At Least) Partially Responsible for the Events Leading Up to the Default of Greece [And Citadel Profited From It].
§1: The History
§2: The Connections
§3: The Implications
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§1: The History
It all started in 2001, 2 years after the European Union (EU) created the Euro. Only nations of the EU that had a debt-to-GDP at 60% or less could adopt the Euro. Greece, however, had a debt-to-GDP that exceeded the 60% acceptable limit; as such, they were not allowed to adopt the Euro. Adoption of the Euro came with many perks, among which included more trade, financing, leverage, and a stronger overall position internationally. This is why Greece desperately wanted to adopt the Euro, so much so that Goldman Sachs exploited their desperation with an inauspicious deal.
https://preview.redd.it/besxqwve4gy81.png?width=1440&format=png&auto=webp&s=89cd3ce9bc5ba2f36b9c791b3a48f89e5af6892c
Goldman Sachs helped Greece hide their debt via manipulation through currency swaps. This way, Greece could appear as if they held significantly less debt than they actually had, meeting the debt-to-GDP threshold allowing them to adopt the Euro. With the help of Goldman Sach's legerdemain, Greece was able to join the Eurozone in 2001.
[The Eurozone is a monetary union of member states of the EU that adopted the Euro (€) as their primary currency and sole legal tender.]
This is where the problems began for Greece.
The debt-to GDP ratio continued to increase substantially, while Greece admitted in 2004 to exaggerating budget deficit figures. The situation, however, was still somewhat manageable, as there was steady economic growth as well as EU funding towards the deficit. This came undone with the Great Recession of 2008, where the Athens Stock Exchange crashed 65%, along with Greece's GDP tanking and borrowing rates skyrocketing.
The Euro made things worse after the Great Recession. It prevented Greece from stabilizing, due to monetary policy.
On April 27, 2010, Standard & Poor's downgraded Greek credit rating to junk status.
With Greek bonds rated as junk bonds, the debt crisis became harder and harder to escape. Not only was Greece having a harder time securing money to pay off the debt, but their borrowing rates kept increasing, dragging them further into the hole. Economic rescue began soon after, with 2 bailouts from the Troika (a group formed by the International Monetary Fund, the European Commission, and the European Central Bank), which came in the form of €240 billion, major debt haircuts (reduction on the value of the debt), and austerity measures (i.e. spending cuts as well as substantial increase in taxes).
In 2015, the citizens of Greece fought back from the austerity measures (of higher taxes, unemployment, and reduction in wages) by voting in the ΣΥΡΙΖΑ (syriza) anti-austerity party, which went against the austerity measures proposed by the Troika deal. This further increased the budget deficit, and on June 20, 2015, Greece officially defaulted on its debt (failing to pay $1.7 billion to the IMF), making Greece the first country to miss a payment to the IMF since Zimbabwe in 2001.
The Athens Stock Exchange, consequently, was shut down on June 27, 2015. Greek banks were also shut down to avoid a total collapse.
Ultimately, Greece received a third bailout on August, this time an €86 billion bailout from Eurogroup. Although Greece finished its bailout program, it still maintains an extremely high debt-to-GDP (approx. 193%, as of 2021 [down from 206% in 2020]), and millions of Greeks still suffer from the ramifications of the debt crisis.
The austerity measures during the debt crisis led to unemployment reaching a height of 27.47% (according to Statista), and still reports an unemployment rate of 16.85%, as of 2020.
According to Poverty Watch Greece, nearly 1 out of 3 Greeks are at risk of poverty, as of 2021.
Domestic businesses were also forced to cut production as well as wages significantly, as a result of the debt crisis. With consumption and investments decreasing substantially in Greece, along with rising costs of production, many businesses went bankrupt, and the hedge funds that shorted said businesses profited greatly from it all.
§2: The Connections
In the case of Goldman Sachs, they made tons of money from Greece's default in a variety of ways.
Firstly, they made money on the transactions with Greece to help hide its default via swaps. According to Armitage from "The Independent", "Goldman Sachs is said to have made as much as $500 million from the transactions."
But they made much more money on the sovereign credit default swaps against Greece.
A sovereign credit default swap is a financial contract in which you pay a premium for insurance in the event of a nation's default. In layman's terms: country defaults ⇒ you get money.
This is similar to a regular credit default swap on a company, where you make money when a company defaults on debt. Hedge funds/banks have a history of trading sovereign credit default swaps, and these swaps were abused so much on Greece that on November, 2012, the EU banned all naked sovereign credit default swaps (as reported by Noked from the Harvard Law School Forum on Corporate Governance).
We should note that, unfortunately, this did not extend to all sovereign credit default swaps, only "naked" or uncovered sovereign credit default swaps.
The Greek government openly accused U.S hedge funds and investment banks of attacking its country, for the sole purpose of profiting off of sovereign credit default swaps. Among those that attacked Greece, Goldman Sachs and billionaire hedge fund manager John Paulson were called out by the Greek government, reported by Michel-François Clerin at Finyear.
There's a good article from the New York Times, "Banks Bet Greece Defaults on Debt They Helped Hide" that goes into more depth on how sinister this scheme really was. Not only did Goldman Sachs help put the Greek government into this financial dilemma, but they also bet that the government was going to default and made billions in doing so. In essence, they knew that Greece was going to get themselves into a bad financial situation by concealing their debt, and profited off Greece drowning itself in debt as well as the millions of Greeks that suffered as a result of it all. As the New York Times states,
"These contracts, known as credit-default swaps, effectively let banks and hedge funds wager on the financial equivalent of a four-alarm fire: a default by a company or, in the case of Greece, an entire country. If Greece reneges on its debts, traders who own these swaps stand to profit.
“It’s like buying fire insurance on your neighbor’s house; you create an incentive to burn down the house,” said Philip Gisdakis, head of credit strategy at UniCredit in Munich.
As Greece’s financial condition has worsened, undermining the euro, the role of Goldman Sachs and other major banks in masking the true extent of the country’s problems has drawn criticism from European leaders."
So, we understand how Goldman Sachs was involved, but how about BCG? BCG was actually involved and impacted Greece in a variety of ways.
BCG's Greece office was founded in 2001, the same year that Greece began manipulating their balance sheets via swaps [although, I should point out that according to legal forms provided by "Kompass", they were established in Athens, Greece as early as 2000]. And as soon as BCG joined affairs in Greece, they began influencing the decisions made by banks.
The BCG HQ in Greece has a division specifically for wholesale banking (providing banking-related services to other banks, institutions, and government agencies). They actually have a page on their site that goes over their wholesale banking services.
You can find many of BCG's consultants in Greece left to get into positions with large Greek banks or in Greek government. Even the current Mayor of Athens worked at BCG.
This is an important factor to note, as we already know Citadel has a history of using BCG to spy, infiltrate, and manipulate other entities from within for their own economic benefit.
Example:
Incriminating article discovered by Ape "JustBeingPunny".
https://preview.redd.it/g8t2757h4gy81.png?width=735&format=png&auto=webp&s=f13dc8fbc73e29337ca9c6d5c1fb61dcc34b2308
On pg. 8 par. 6
There was already a lot of DD in the past that demonstrated how BCG consultants in the U.S would be sent by BCG to infiltrate companies being shorted by Citadel and Co. for purposes of reconnaissance (via corporate espionage), as well as taking down companies from within (e.g. Macy's, Toys "R" Us, Blockbuster, Bed Bath & Beyond, etc.). Infiltrators from BCG not only took down companies through sucking out their money and making terrible decisions from within, but also having said companies overleveraging themselves on loans they couldn't afford to pay back. Sound familiar? That being said, if BCG was tasked by a hedge fund with the objective of helping ensure that Greek bonds would be downgraded to junk bonds (as well as ensuring that businesses in Greece would be more likely to head to bankruptcy), the smart decision would be to have consultants helping banks ensure that is the outcome, such as Goldman Sachs (which some BCG consultants got hired from after 'resigning' from BCG) or Alpha bank (a major Greece bank that BCG consultants also transferred to).
Now, as I've stated before in §1: The History, €240 billion came from the first 2 bailouts. Cottrell, from one of Germany's most relevant international broadcasters, Deutsche Welle (DW), asserts that only 5% of international bailout money for Greece was used for government reform, and that most of the money was used to pay off banks and take out more loans from banks. In his article, Most of Greek bailout money went to banks: study, "Most of the money was used to actually transfer risks from private creditors to public creditors," Rocholl said. "This means money was used to repay the private creditors by taking on more debts that were taken by private creditors. [...] Only 9.7 billion euros, according to ESMT, was directly contributed to Greece's fiscal budget or to kickstart the Greek economy. "
In The Guardian's article, "Where did the Greek bailout money go?", most of the money went to the banks that lent Greece funds before the crash. Much worse is that, while Greek pension funds suffered terrible losses, €48.2billion of the bailout "was used to bail out Greek banks which had been forced to take losses, weakening their ability to protect themselves and depositors." A very miniscule amount of this bailout ended up going to the Greek Treasury to rebuild the economy.
https://i.redd.it/n532icb15gy81.gif
The banks had heavy influence in the situation the entire time, from the beginning of the debt crisis to the end, and considering that BCG's office in Greece had influence with the banks, it can be inferred that BCG played at least a partial role in the matter.
Now, what type of influence did BCG have within Greece? Well, it was initially harder to find than Goldman Sachs, because BCG has been especially secretive with their dealings in Greece. Finding their Greek clients is like trying to find who are Citadel's 17 clients. So, I decided to take a different approach: we can find out if BCG was at least partially responsible for the events leading up to the default of Greece by understanding what their philosophical/socioeconomic positions were, and by finding that info, we can deduce what type of influence they had within banks, institutions, the government, and the overall economy.
We'll start with Vassilis Antoniades, who is Partner and Managing Director of Boston Consulting Group, Athens. He is a member of the Business Advisory Council in Greece, as on the BAC page, which states that "he has been involved in the build-up of BCG Athens since early 2003." The Delphi Economic Forum also states that his focus is in wholesale banking.
In a BCG publication in 2015, BCG Athens Managing Director Antoniades makes the case that Eurozone has been (and will continue to be) good for Greece.
"The prophets of doom may prove to be right: this is surely a very tough deal. Its unpopularity has led some experts to continue arguing that leaving the Eurozone is the preferable course. With the exception of the leftmost- and rightmost-leaning members of the Greek political system, few of these proponents live in Greece. They ignore the fact that the vast majority of Greeks see their future as part of Europe. Polls regularly show that 65 to 70 percent of the population supports remaining in the Eurozone. A “Grexit” would permanently undermine Greece’s position in Europe, seriously limit its influence in international affairs, especially in its immediate neighborhood, and substantially negate the significant achievements that the country has registered over the last four decades with regard to economic and sociopolitical change,"-Antoniades.
Greece joining the Eurozone is something BCG has been supportive of, since 2000, and even today, despite the fact that Greece only got into the Eurozone via swaps manipulation from Goldman Sachs, and Greece's debt-to-GDP ratio is over 3 times the acceptable limit of 60%, meaning that they should've never been in the Eurozone, and shouldn't continue to be in the Eurozone. As I've stated before, the Euro prevented Greece from stabilizing, due to monetary policy. Its high risk still harms Greece's economy in the long-run, yet BCG is supportive of it.
BCG also published a 23 page document in 2018, where they ENCOURAGE making bankruptcies in Greece easier for businesses.
Page 7:
"Studies show that fear of failure is preventing Greek citizens from setting up new businesses. [...] Greek bankruptcy laws also make closing a business a costly and time-consuming endeavor; in some cases, it is punitive, without any second-chance provisions."
Page 13:
"The government should revamp its bankruptcy laws. The fear of failure has plagued the Greek business landscape for the past decade. The negative repercussions that result from declaring bankruptcy often deter entrepreneurs from starting a new business."
This is their philosophy, and this is what we can expect their consultants in Greece have been influencing.
Simply put, making the bankruptcy process easier and more lenient discourages risk aversion from businesses and incentivizes more "overleveraged and risk loving behavior", which would lead to bankruptcies. A substantial increase in bankruptcies is ultimately bad for the economy and the nation's GDP; hence, bad for Greece. This would only be good for hedge funds shorting those businesses and/or the economy.
Now, in terms of money trails, it's harder to find out if there was any money laundering between BCG and institutions paying BCG to attack a country's economy/businesses, as BCG is not directly regulated.
For instance, the World Economic Forum made BCG a Gatekeeper, meaning that BCG self-regulates and also has the power to "prevent or interrupt illicit financial flows from other institutions".
Here's the WEF Unifying Framework. It was created by Gatekeepers (i.e. BCG and Co.) for Gatekeepers. You will find on pg. 2, par. 2, it states, "regardless of whether such assistance is provided knowingly or unknowingly, these professionals can open access to financial markets, set up complex company structures, manage shell companies, and otherwise blur the nature and origin of ill‑gotten gains. Given their central role in the global economy, this professionally diverse group of service providers is also strategically situated to interrupt or prevent illicit financial flows by exercising appropriate due diligence when providing their specialized services. While sometimes presented as “enablers” or “facilitators” of illicit activity, the reality is that much of the so‑called enabling or facilitating is unintentional. Further, the term “gatekeepers” more accurately captures the dual potential to promote or impede illicit transactions."
Companies that endorsed the WEF "Unifying Framework" for Gatekeepers to give themselves self-regulatory powers include BCG, UBS, Baker McKenzie, etc.
Multinational Law Firm Headquartered in Chicago, Baker McKenzie (which also got exposed by the Pandora Papers as facilitating a money laundering operation), is not only connected to BCG but also the Former Chair of the International Monetary Fund and current head of the European Central Bank, so seeing all these connections is quite surreal, but I digress.
The point is that if a hedge fund wanted to use a tool (one that's not directly regulated) to carry out its will of destroying companies (and hurting economies) from the inside, Boston Consulting Group would make for strong utilization.
We would have never found out about BCG, if it weren't for RC. He was tweeting tons in regard to BCG; it was clear he wanted Apes to dig into its affairs. And the fact that RC liked THIS particular tweet on April 9th about BCG secretly being Citadel (or controlled by Citadel at least), is telling.
https://preview.redd.it/0nnpdkrm4gy81.png?width=588&format=png&auto=webp&s=9c33a97a63e2136fade29ebcba52e098f4674d2b
Which begs the question, if BCG was trying to hurt Greece (and Greek businesses), which hedge fund (along with billionaire John Paulson and the other hedge funds that the Greek government openly accused of trying to attack their country) stood to profit from the Greek Debt Crisis?
https://preview.redd.it/dmucsmxn4gy81.png?width=989&format=png&auto=webp&s=a25033146f4ed9bc910615ac5b6e2364b9a9eba9
Citadel's hedge via sovereign credit default swap spreads against Greece paid out, and news articles made him sound like some brilliant finance wizard of highly advanced intellect that can foresee the future, when in reality he and his buddies just manipulated the Greek market, damaged the economy, and profited off it. This is comparable to his work on shorting brick-and-mortar companies in the U.S, just on a macro scale.
§3: The Implications
With what we now know, what can be inferred? That not only have companies been manipulated and shorted for profit, but that this behavior can also be captured on the macro scale with the manipulation and shorting of entire economies supranationally.
This has been seen in the past, such as in the early 90s when Soros made billions by shorting the British pound, and then having his friends deplete the reserves from the Bank of England, forcing currency devaluation and ultimately crashing the pound, damaging the economy in the process. Or, on March, 2020, when Ackman set up a hedge against the U.S market, then immediately went on national TV, scaring the public by telling them, I quote, "hell is coming," and "there's a tsunami coming", referring to the market, helping lead to a 30% flash crash of the S&P 500, netting him billions in profit.
This may be why Citadel was previously banned from China during their crackdown on malicious short selling. Unlike other countries, China wasn't having it.
I've also heard of similar stories (from Apes as well as news outlets) of BCG potentially meddling with other nation's economies as well, which I find compelling, and may possibly further support my findings.
Here's some examples:
Comment excerpt from Ape "throwawaylurker012" relating to his DD on SHFs shorting Argentina's economy:
https://preview.redd.it/w2zmdtsp4gy81.png?width=1440&format=png&auto=webp&s=5b65ef75cf39fd8b13095fb2490acfe5bbe82c4d
"Kalsitu" discovers BCG meddling in Spain.
https://preview.redd.it/7k9r88oq4gy81.png?width=698&format=png&auto=webp&s=b39d2d6d45d62740f44295c4d2066e152f10f509
"KakelaTron" draws connections between Sri Lankan debt and BCG.
https://preview.redd.it/0t7cyawr4gy81.png?width=681&format=png&auto=webp&s=99152795e5b7f41bc7544722a218ac9ea97bf98f
I've also noticed Goldman Sachs' name keeps showing up alongside BCG in the other "affairs", which I find interesting as well.
Apes "JustBeingPunny" and "CruxHub" were previously shadowbanned for posting DD related to BCG, so I'm not entirely sure what will end up happening to this post, but I do believe we're definitely onto something. Otherwise, there'd have been no reason for BCG to want to censor any research relating to their inconspicuous dealings in domestic and foreign affairs.
A good takeaway from this, though, is that post-MOASS, it may not be only generational wealth that you'll achieve, but also a spot in the history books, and the knowledge that you've essentially become a hero to countless lives around the globe, protecting them from economic parasites and malicious shortsellers that have tried to profit off the socioeconomic hardship of millions, just like in Greece.
TL;DR: A preponderance of the evidence suggests that Goldman Sachs as well as BCG were at least partially responsible for the events leading to the default of Greece, and that Citadel profited in the process. This is amply evident from Goldman Sach's ledgerdemain with the Greek government, in addition to the sovereign credit default swaps they purchased behind Greece's backs. This is also evident from BCG's wholesale banking connections in Greece since 2000, and their influence of Greece remaining in the Eurozone (which led to the default), in addition to a push for incentivizing Greek bankruptcies, etc., all while helping Citadel rake in profits off swaps against Greece. Further connections suggest that Greece wasn't the only country this happened to, and that other nation's economies may have been susceptible to manipulation and malicious short attacks for profit.
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Edit: u/ throwawaylurker012 posted a DD not long after I made this one, which goes over how Citadel sat on the CDDC, the secretive board that determined if Greece defaulted, as well as when the credit default swaps paid out. I wanted to share it here, as it further supplements the DD.

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Monthly US dollar fundamental forecast

For many months now, financial markets have wanted the Fed to turn dovish. However, the Fed wants the stock market to drop. The regulator needs tighter financial conditions to curb inflation. He, who plays against the Fed, will always lose. That is why the EURUSD bears go ahead.
A further drop in the US stock market is not the only shock that strengthens the demand for the dollar as the main safe-haven asset. According to Chicago Fed President Charles Evans, too high rates could have a "nonlinear" impact on the US economy. If the Fed has to increase the path of the funds rate much more, it really does begin to weigh on the economy. Evans says he hopes that the expected FOMC ceiling of 4.6% will be enough to beat inflation, but so far, the economic data mean the opposite.
Previously, when the Fed began tightening monetary policy, it took longer than originally thought. It is likely that, due to entrenched high prices, monetary restrictions in the United States will last until the end of 2023 and possibly into 2024. Moreover, the US economy is actually more stable than expected. It's more overheated, as evidenced by Fed lowering potential GDP. It has become easier to close the gap between the potential and the actual level, which means that the central bank will need more effort to cool the economy.

Dynamics of US real GDP and unemployment

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https://preview.redd.it/lpdcpsea4yu91.jpg?width=771&format=pjpg&auto=webp&s=ae54d911b5975229fe86117c49c6604f9f3b0d42
For more information follow the link to the website of the LiteForex https://www.litefinance.org/blog/analysts-opinions/dollar-is-unbeatable-forecast-as-of-20102022/?uid=285861726&cid=62423

Edit** for all those who called this a conspiracy theory and witch hunt.
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look at the text in the middle of this picture.
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https://preview.redd.it/fdwcozw3qgw71.png?width=3840&format=png&auto=webp&s=262656f215a269cfcd5e79ef3f00fe766a5aea6a
The owner of this site has temporarily banned you. HSTS protocols are set up and configurable in Cloudflare in the HSTS panel. You can throttle scale and even turn to throttling off.
They are at the control panel. I have so much shit ti say but this post is longer than most care for. This is screwed-up gang.
if you want to see the epic emotional cancer thats going on dig through kucoin no one ever mentions gains. ......
Report them to reddit! Help me save crypto noobs from being harvested like explosion for preproduction on a Michal Bay film
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Here is a link to part 2. I responded to u/Johnny_KuCoinhttps://www.reddit.com/CryptoCurrency/comments/qf4ka4/followup_on_kucoin_cloudflare_and_more/
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***Edit ***
TLDR summary
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The crux is they don't spend money on It and make money in doing so.
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Ask the exchange(s):
While they may say "we dont make money indirectly off insurance funds" they absolutely do.
its your right as an investor to have this detail You have every right to know the details of an insurance fund you are paying into.
Since everyone accepts that a lot of exchanges do this, other exchanges do it to. I literally have screenshots of conversations that say this much.
You are being throttled out. They can indeed scale up at a cost.
If for some reason they can not they have a fiduciary duty the moment they take your funds to tell you the risk of their incapable IT architecture and settings. Moreover, they could just install a kill switch that ends trades without penalty if the web servers go down or they exceed band width.
As cost-effective as it is to build in a kill switch as a solution its not profitable to exchanges that are having a liquidity crisis. Assets on exchanges are becoming more scarce. (reference IEP 1559 and many other facets)
If an exchange restricts your access they should still not be placing higher priority orders via the OTC desk while you are locked out. This should also be disclosed.
While they may say we dont make money indirectly off insurance funds they absolutely do.
Cloudflare is the brand of edge network they are using as a server to facilitate HSTS protocol controls to throttle down access to their whim. I didn't want to get so deep as to dive into protocol-level details in this post as I was speaking to a very broad audience.
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go here if you want details
https://webpop.io/cloudflare/error-1015-rate-limited/
read what is rate limiting.
and
Cloudflare Error 1015: “You are being rated limited” results from one of a few possible causes.
Most frequently, when a legitimate site visitor is being blocked by the rate-limiting error 1015 it’s due to issues with the rate-limiting configuration that only the site owner can fix.
for more tecchie peeps
https://developers.cloudflare.com/ssl/edge-certificates/additional-options/http-strict-transport-security
check out the hsts panel
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With rate limiting, Cloudflare can automatically block traffic from a suspicious site visitor or IP address so that hackers, spammers, and other online pests are can’t bog down your site’s performance with DDoS attacks and other illicit activities.
This is only one small part of a larger need to a very complex and detailed situation.
I hope this helps
for all the new critics of me, I hope you ask some questions of the exchanges you work with to know your risk.
*****
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Hey all,
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I used to design data centers ( I became a full time crypto trader) and I got very concerned when i saw them using tech i am very familiar with to try and steal peoples money via liquidations.
Trading leverage is risky but to for a company to game the system with thier data center design is just not ok.
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below is a screen shot of Kucoin denying access to the website on peak times using Cloudflare.
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https://preview.redd.it/q52vibbgk9v71.jpg?width=1346&format=pjpg&auto=webp&s=b822b2969bc499b3c8f8f2d4e758fa5733367657
Cloudflare is used for 2 purposes. To stop a DDOS attack ( millions of bots refreshing a web browser to crash a server) and to defer traffic to redundant servers when server loads peak.
Essentially they are treating all their customers like a DDOS attack and saving money on not having a redundant webserver at AWS ( Amazon Data centers).
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Notice*****I am being rate limited ( as in denied access) by cloud flare
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![img](04cogvmv0av71 "https://webpop.io/cloudflare/error-1015-rate-limited/
read this link so these are not my words
copy paste from link above
Most frequently, when a legitimate site visitor is being blocked by the rate-limiting error 1015 it’s due to issues with the rate-limiting configuration that ....................>>>>>>>>>"only the site owner can fix."")
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https://preview.redd.it/6ts934o32av71.jpg?width=2734&format=pjpg&auto=webp&s=743a27125560ca3e175241776ae336e04ec31880
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When I asked about this on Kucoin i was insta banned
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https://preview.redd.it/gn61nqlzk9v71.png?width=3004&format=png&auto=webp&s=d7efefebd5101eae319959f8bede2bdf2e827c0a
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https://preview.redd.it/q2mep7f2l9v71.png?width=1766&format=png&auto=webp&s=b0aef5db570dbb564e914918aa0b6cd94afe9e8b
If I was wrong I figure someone would at least talk to me about it.
but when i add this server denail access stuff on top of little nuansces like them removing the liquidation price on margin to increase customer risk I got more concerned.
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Their servers are going down way too often as well https://downdetector.com/status/kucoin/archive/
Essentially by not spending more on IT they make more money.
When the servers go down they are still processing institutional orders via the OTC desk
The link below is not spam its to the Cloudflare's website ( kucoins vendor)
https://www.cloudflare.com/learning/what-is-cloudflare/
They are treating their own customer base as a threatening attack like DDOS
Kucoin is assigned a Cloudflare Ray ID, an identifier like a phone #. Kucoin ray id 69fc3e2db9e762eB
Kucoin uses Amazon Data centers or AWS, they could recitify this whole issue by using geo load balancers aka a gateway load balancer
https://aws.amazon.com/about-aws/whats-new/2021/03/aws-gateway-load-balancer-is-now-available-in-additional-9-regions/
Instead they let the servers go down and get laggie to make extra money. They save money on IT and make money off liquidations
Roughly 5% of their revenue comes from liquidations.
Helpdesk wont even acknowledge this; I designed data centers, I know how this works for anyone who has questions
I posted this on the Kucoin subreddit and "no surprise" I was banned.
It legitimizes what I am saying as if I was wrong their help desk could have asked me for my support ticket
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Edit update********
I went and grabbed the following off their moderator list
This is thier executive team and one developer
u/kentli35
u/purekidu/Johnny_KuCoinu/Edith_KCFuture
after tagging these guys on my Kucoin post they changed the moderator list to private
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******EDIT UPDATE
I was in error, the mod list goes private when you are banned. I feel its important for me to correct inaccuracies
For this, I would like to apologize to Kucoin as I wasn't aware mod lists went auto-hidden when you are banned. I have never been banned before. Secondly apologies to the Crypto community for the same reason. *********
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https://preview.redd.it/rzs1og0cq9v71.png?width=2736&format=png&auto=webp&s=5086be63f87b36b1bd148d51d932d60b3708e51a
The moderator list wasnt private until my post. The one where they banned me.
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HMMMMMMMMMMMM thats a bit SUS
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*****edit update*
I am getting alot of questions and a TON mof messages with horror stories and people asking for help
The big question is do they know about this
I personally PM'd the CEO u/johnny_kucoin and he responded
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https://preview.redd.it/15078yhmv9v71.png?width=1341&format=png&auto=webp&s=36514913d56552d7ac0146efd43a99963a06ae3c
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https://preview.redd.it/uti2xancv9v71.png?width=1619&format=png&auto=webp&s=fad92498b3d0a9950a62c35690ee8030955246fc
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https://preview.redd.it/nw5noo5kqav71.jpg?width=3121&format=pjpg&auto=webp&s=6599cad3ce8fe23bffa1f6c7ce92aad7cd6f9a58
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https://preview.redd.it/g1umcp0nqav71.jpg?width=2601&format=pjpg&auto=webp&s=f45affd38a8dfbbcd34a3138c54a0dd5056b5ca5
How else do they know ( they are knowingly doing this)
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How this works is Amazon data centers charges you by the cumulative resources you consume. ( cpu, gpu, data storage, ram etc)
In these settings you can throttle the virtual machine/ cloud servers resources forcing it to go down. I am not implying that they are doing this.
I am saying they are knowingly using settings that let the server go down repeatedly. There are formulas to calculate loads on concurrent users. They are clearly not using settings or intentionally using settings that trip the server to go down.
If you dig through this archive you can see when outages are being reported. They get a system notice that they hit a threshold of resource utilization.
https://downdetector.com/status/kucoin/archive/
Now in the event, you have a crazy anomaly Cloudflare and Amazon have the ability to redirect to a redundant location with a technology called geo load balancing
https://aws.amazon.com/about-aws/whats-new/2021/03/aws-gateway-load-balancer-is-now-available-in-additional-9-regions/
Notice in my screenshot that it says there is a gateway issue
that link talks about load balancing the gateway ( offloading the processing power)
They VERY MUCH KNOW THEY ARE DOING THIS
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Infact I let the CEO know via PM
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https://preview.redd.it/8myd59tpoav71.jpg?width=3307&format=pjpg&auto=webp&s=5843459f892d65f25a6735c38cf647bcf0fb7f91
the date on that PM is Sept 29th
They had another outage this past weekend and even today
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https://preview.redd.it/gtenjo5zoav71.jpg?width=2873&format=pjpg&auto=webp&s=555fe15ee5c769c5dda0ff3198f21f3bf7bb352f
and email
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https://preview.redd.it/h8ibbasepav71.jpg?width=3375&format=pjpg&auto=webp&s=8b1563e3d6f8c5fa98d7963f86cc6cc0da13b84d
https://preview.redd.it/2kywbo6wpav71.jpg?width=3338&format=pjpg&auto=webp&s=b927e221153ac266d5b43ff21f89edd0f8a5f94f
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Essentially thier help desk team does nothing and they keep passing you back and forth until you give up.
In professional management the term for this is "being managed out"
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**I share these communications just to show THEY DAMN WELL KNOW AND NEVER DISPUTE WHAT I SAY****
They are getting system notices via email from amazon (e.g. You are at 89% cpu utilization you need to scale or you may face faliure)
Their Amazon (AWS) sales guy is calling them every day trying to sell them more services.
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e.g. Hey i am your hypothetical Amazon Sales Guy " I noticed you guys are throttling cpu load on webservers, can I offer you a bigger package and maybe we should tal;k about fail over locations incase your server goes down under load.
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frankly, I would bet my life on it that they know this is an issue and why
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There isnt a data center architect (what I did) on the planet that couldn't answer why their servers are going down. This is 101 level stuff
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They also have the ability to kill the back end server ( where trades happen) this is done on all major exchanges like the HK ex
https://www.hkex.com.hk/News/Market-Communications/2016/160425news?sc_lang=en
https://fxnewsgroup.com/forex-news/exchanges/hkex-to-introduce-kill-switch-on-hk-securities-market/
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and Chicago CME
https://www.cmegroup.com/tools-information/webhelp/globex-credit-controls/Content/Kill-Switch.html
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Essentially the webserver sends a hearth beat signal ( its literally called that) if the heartbeat is not heard all trades pause ( a kill switch)
https://en.wikipedia.org/wiki/Heartbeat_(computing)#:~:text=In%20computer%20science%2C%20a%20heartbeat,parts%20of%20a%20computer%20system#:~:text=In%20computer%20science%2C%20a%20heartbeat,parts%20of%20a%20computer%20system).
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This is VERY common design work, like windows to a house level ... for lack of better comparrison
In Kucoins instance they let the webserver go down but the back end server was still moving. All the whales use OTC desks and have dedicated access. So they processed the whale orders and let all of us burn alive and took our money
Its safe to say they have ZERO plausible deniability
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I can share screen shots with thier help desk if its hellp ful
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I went so far as to volunteer to fix the issue for free,
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https://preview.redd.it/8txyhgqux9v71.png?width=2133&format=png&auto=webp&s=4ea469c5f87a1ce92bc9c245b7c3e58c4563db7f
The CEO went so far as to acknowledge the outage happened and they would do the right thing but it was all BULL SH!t
IT was a PR stunt and no one go money anywhere close to thier losses. Here is his reddit post
https://www.reddit.com/kucoin/comments/pk7bjm/to_those_affected_by_kucoin_access_issue_on_sep_7/
****Edit*****
I want to bring attention to Omgno001 who inspired me to speak up. He has a video you all need to check out
here is the kucoin thread
https://www.reddit.com/kucoin/comments/qcy28h/update_kucoin_futures_bug_cost_me_6_figures_once/?utm_source=share&utm_medium=web2x&context=3
here is a direct link to the video for those who dont want to read the thread
https://photos.google.com/share/AF1QipObxH6a7HEx2uePBoyl6rmSwi5TDoVCaKISIunvzwzaagPvnSM6RDpvau6dTa30JA?key=UXZkZEZmOG9zcERTVU5iMGtJZzBSSHgxMjYyUFd3
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Most of us are doing crypto to better our lives, it's a little hopium in a dark f**king world. We all need to stand together and speak up
***edit***
We tagged their executive team in the comments
I want to give them the benefit of the doubt even now. So far thier only response was to ban me from kucoin and hide the moderator list after i tagged them on the kucoin subreddit.
Should they not comment or address the issue, I will have all the answers I need.
If they do show up we have a chance to ask questions.
If they have nothing to hide, they won't be hiding.
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If they do show up, I implore all of you to come forward on this very thread and step up to the mic and ask them about your issues.
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Thank you for all the love guys. I am mostly a lurker
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****edit*
There are people asking if this is possible an honest IT mistake. Like they messed up and don't know any better
Well I hope not
Would you run a business solely on the web that handles over $1 billion dollars of transactions daily without a single redundancy fail-over site for high availability which is a ubiquitous industry standard?
If you had issues with web server outages more than all of your competitors and relied on transaction fees for income... there would be an obvious question of "doesn't downtime hurt your income from transaction fees if your customer cant process transactions?
If they are honest... they are so grossly incompetent they are still just as big of a threat.
Occam's razor is a principle of theory construction or evaluation according to which, other things equal, explanations that posit fewer entities, or fewer kinds of entities, are to be preferred to explanations that posit more.
So what is more plausible is" a company rose to #3 by market cap and is processing over 1 billion a day in transactions but yet never heard of the industry-standard redundancies.
They cant figure out how to stop the loss of income from amissing transaction fees
They also never address that they have more outages during periods of high liquidity transfer ( not volume) than all of their competitors.
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Yet still, appease their institutional customers moving $35 million in assets or more?
or
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That they are pulling an industry-standard broker tactic of pulling out the proverbial buy/ sell button of securities when they may have a liquidity crisis. * Like Robinhood did with GMC, AMC, and Dogecoin. While still catering to whales
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I hope they show up to answer these questions.
Because of the derivative funding fees, the constant issues with withdrawals (often you can't withdraw), deleting stop losses, not triggering stop losses and removing the liquidation price on margin contracts increasing the risk of liquidation makes me want to ask a lot of questions
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When I started to ask these questions I got instantly banned.
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When I looked up there moderators and saw they were teh executives of the comapny and tagged them, they made the mod list private.
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Through this all, I am still willing to give them the benefit of the doubt, but your don't get to lock me out of my house and then burn it to the ground.. subsequently blame me for it.
They tried to silence me when I asked questions.
There is something off here!
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