Post
Topic
Board Trading Discussion
Re: Hodlie: AI-powered BTC trading bots for the everyday user
by
crazy72
on 19/10/2023, 14:28:29 UTC
Hodlie can place orders but can't touch your assets.

if it can place orders, it can also easily steal funds from the account. How? All the attacker needs is to convince a few people to give their api keys that have some capital behind them, then buy some low-liquid altcoin and then use the low-liquid currency pair to carry out the attack. How? by ordering all accounts to buy this altcoin at one time and setting his account to sell. For example 100k $ is enough to create x3000 flash pump on THETA/BNB trading pair.

The attacker buys THETA for $3,000 and sells it for $1 million, while stealing $1.1 million from the attacked accounts.

I've seen something like this several times, and the most popular case was a few years ago on the VIA altcoin.
https://medium.com/chainreport/binance-phishing-attack-creates-api-pump-f4ef2160f3ea


The systems seems to be very basic, it's not a trading system.  I think you didn't check yet the portal.
You just subscribe to the proper bot and you can only select for the moment only BTC - USDT. There is no way you can control what is buying or selling. It's useful for users that don't have knowledge about trading, are interested in crypto and want to invest something with some return without becoming crazy.  System is losing too, it's normal. But it seems to be able to cut the loss in an effective way.

In any case I'm testing it...and I'm curios how is reacting in a bear market.