I analyzed in detail again this week their order book and confirmed that they still have a bot on their main markets, like the BTC-euro or LTC-euro. All of the orders on their order books move continuously in block. They are created by the Rock Exchange bot. This is not a customer bot or, to the least, the bulk of the orders are created by their bot. Again, they never denied this.

But go check their markets when there are oscillations on the international price: all their orders near the market price disappear and an huge market gap is created in their order book.

And things are even worst than I thought. Obviously, the Rock management planed this from the start. They created the bot for it to trade with itself and create fake volume. But also to deliberately create the misleading impression of an exchange with a tight and real order book as a mean to attract customers.

Their customers buy bitcoins at their exchange trusting that they will be able to sell them at market price if they need, but when the bitcoin price drops, all these orders disappear and appear at a price much lower than the international market price. Their frightened customers then don't have another option than to dump the bitcoins and sell at a very low price.

Exactly what that Rock customer I wrote about on my previous post was complained. What he doesn't know is that this was anticipated and planed.

But the Rock management knows the order book creates this misleading impression of being tight and solid and already programmed the bot to cancel all of the market price orders in case of oscillation of price and to create on their place very low bid orders. And they are counting on some panic sales! This is a scam!

This scam and its profits is the only thing that kept the Rock Trading alive all these years, since they have a small real volume and income from fees.

It's when there are crashes of the bitcoin price that the fun really begins at the Rock Exchange. I can see them scratching their hands with a big smile anticipating what some of their panicking customers are going to do. The happy days are here again.

I have to correct myself, this isn't only unethical or illegal, this is criminal. This scheme confirms that the Rock Exchange is a scam exchange.