To ensure the trading experience of community users, regulate market trading behavior, and protect the rights of investors, the Bitdu system will identify and judge users who engage in illegal arbitrage activities (including but not limited to fee manipulation, rebates, bonuses, hedging, etc.) through multiple accounts and devices based on multi-dimensional characteristics. The platform will take appropriate measures against users detected by the system for engaging in illegal arbitrage (including but not limited to real-name authentication, account suspension, asset freezing, login restrictions, etc.).
I. Abnormal Trading Behaviors as Defined by the Exchange and Their Handling Methods
Abnormal Trading Behaviors as Defined by the Exchange
Excessive trading in the market: Large intraday trading volume.
Self-matching behavior.
Combined positions of related accounts under actual control exceed the exchange's position limit.
Actual related accounts engage in trading through premeditated collusion, manipulating market prices, and illegally profiting.
Theft of code trading: Customers illegally steal others' account and passwords or use related accounts for illegal trading and fund transfer.
Wash trading using accounts and related accounts.
Quantitative trading and arbitrage trading.
AB position trading using one's own account or multiple accounts.
High-frequency trading or high-frequency illegal trading using programs.
Abnormal convergent trading behavior involving actual related accounts.
Trading on behalf of others.
Using ultra-short-term trading (frequent opening and closing positions).
Participating in price manipulation or any other malicious market behavior.
Engaging in any other activities Bitdu deems harmful to the market.
Engaging in fee manipulation, rebates, bonuses, hedging, and other behaviors using multiple devices and accounts.
Handling Methods for Abnormal Trading Behaviors
Immediate termination of your account and access to our servers, along with confiscation of illegal gains.
Invalidation of all trades constituting high-frequency trading activities (i.e., rolling back trade data).
Closing all trades constituting high-frequency trading activities based on our current market prices.
II. Types and Handling Methods of Wash Trading, Spoofing, AB Position, and High-Frequency Illicit Trading
Types and Characteristics of Spoofing Trading
Code theft trading
Code theft trading refers to trading activities in which two parties engage as counterparties using stolen trading passwords from one another, disrupting the order of trade management, with the aim of transferring funds.
Spoofing trading involving related accounts
In two or more related accounts, through premeditated planning or prior agreement with others, simultaneous orders are placed at the same price. One account buys high and sells low, resulting in obvious losses, while the other buys low and sells high, resulting in significant profits, thereby transferring funds from the client's account to their own account.
Transfer of client's account funds through spoofing trading by the agent
The agent utilizes the client's account to engage in trading as the counterparty to their own account, thereby transferring funds from the client's account to their own account.
Identification of related accounts: Similar registration times, identical registration IP addresses, identical deposit and withdrawal addresses, and other information.
Types and Characteristics of Wash Trading, AB Position, and High-Frequency Illicit Trading
Multiple related accounts simultaneously place orders for the same instrument in the same time period, with the same direction, similar lot sizes, and similar opening and closing prices.
Using the same account or multiple related accounts to place orders for the same instrument in the same time period, but with different directions and similar lot sizes, through manual or pending order trading, for opening and closing positions.
Rapidly opening and closing positions within an extremely short period.
Handling Methods for Spoofing, Wash Trading, and Other Illicit Trading
According to the relevant regulations of the exchange, investors engaged in illicit trading will face certain penalties, such as corrective orders and confiscation of illegal gains. In cases with less serious violations, warnings, forced liquidation, suspension of opening positions, and other penalties may be imposed. For more severe cases, public criticism, forced liquidation, suspension of opening positions, account freezing, and declaring the investor as a "market-banned individual" may be considered as penalties. If there is suspicion of violating national laws, the exchange will transfer the case to the judicial authorities and may initiate legal proceedings.
III. Bitdu Strictly Prohibits Unfair Trading Practices
Bitdu reserves the right to exercise executive control over your account if you engage in the following behaviors:
Participating in price manipulation or any other malicious market behavior.
Potentially causing harm to other users or the Bitdu platform by exploiting vulnerabilities or other unreasonable means while using this service.
Engaging in any other activities Bitdu deems harmful to the market.
Engaging in fee manipulation, rebates, bonuses, hedging, and other behaviors using multiple devices and accounts.
IV. Other
1. This Agreement shall be effective for you from the date of its publication.
2. If you have any questions about this Agreement, or if there are any complaints or comments about the handling of this Agreement, please contact us through the following channels: please contact support@bitdu.com.
3. The final interpretation of this Agreement belongs to the Platform.