The same "constant dumping" has been happening to TRUSTcoin. The dumping process does not use sell orders, but instead sells directly to buy orders to lower the price. Here's stafur's post from TRUSTcoin thread:
I can try to take a stab at it, but defer to the dev to please chime and correct me if I misspeak. Here's my understanding of what happened:
1. There was a market-bot running on bittrex which was pushing down the value of the coin.
2. To find out what address was behind the bot the dev requested some addy's from the community.
3. Using those addys the dev was then able to construct a tree that led to 5 possible culprit addresses that the bot was running off of.
4. Since the bot is now offline and the addresses and their derivative coins have been identified, bittrex is now good and there is no longer a threat to the coins on bittrex.
5. Price is low thanks to that bot, and others now have an opportunity to invest on the coin at PoW prices and can now take advantage of the PoS.
I can try to take a stab at it, but defer to the dev to please chime and correct me if I misspeak. Here's my understanding of what happened:
1. There was a market-bot running on bittrex which was pushing down the value of the coin.
2. To find out what address was behind the bot the dev requested some addy's from the community.
3. Using those addys the dev was then able to construct a tree that led to 5 possible culprit addresses that the bot was running off of.
4. Since the bot is now offline and the addresses and their derivative coins have been identified, bittrex is now good and there is no longer a threat to the coins on bittrex.
5. Price is low thanks to that bot, and others now have an opportunity to invest on the coin at PoW prices and can now take advantage of the PoS.
And, here's mitchellmint's explanation, Trustcoin's dev:
BitTrex cannot lock an account for this sort of market manipulation. I talked with a representative from BitTrex to discuss my options, which were nearly none.
We caught someone buying high and selling low. We started to profit from it, tweeted to help others profit, and then the market went silent, the bot was turned off. We also notice enormous Sell Walls that were not there before. We asked the community to follow a plan.
The premine is PoSing safely in a Vault 2.18 Million
We took a pause to see who was causing the price drop. Now that it is identified I can only say... MOVING on.
We caught someone buying high and selling low. We started to profit from it, tweeted to help others profit, and then the market went silent, the bot was turned off. We also notice enormous Sell Walls that were not there before. We asked the community to follow a plan.
The premine is PoSing safely in a Vault 2.18 Million
We took a pause to see who was causing the price drop. Now that it is identified I can only say... MOVING on.
