scam on bybit derivatives | Bitcointalksearch.org

Bitcoin_Arena

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฿itcoin for all, All for ฿itcoin.

Quote from: amin20100 on June 16, 2022, 03:53:42 AM

I have posted a full review on Bybit being scam on medium, I checked user experiences on independent review platforms and surprisingly they were mostly negative reviews, even on behalf of their own employees

Not trying to defend Bybit, but the reason you created the medium post was because they blocked you from making a withdrawal. The cause of this was because they detected that you abused their bonus system as per this email response

and yet you claim they blocked your account without explanation

What more explanation do you want apart from the one above?

After that, you started clamoring for random reviews online.

Just show us how you did not violate their bonus promo... simple.

Incidentally, your medium profile wall is full of reviews about Binance exchange Undecided

amin20100

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I have posted a full review on Bybit being scam on medium, I checked user experiences on independent review platforms and surprisingly they were mostly negative reviews, even on behalf of their own employees

Bitcoin_Arena

copper member

Activity: 2114

Merit: 1814

฿itcoin for all, All for ฿itcoin.

Ratimov is actually right. Maybe you should try to understand his comment rather than try to ridicule him.
Based on what you have just written, it's quite clear you don't understand a lot of things about trading derivatives and that's one of the reasons you are losing a lot of money and then starting to accuse an exchange for scamming you

I suggest you try to read more about;

1. Liquidation price and how it's calculated
2. Bankruptcy price and how it's calculated
3, The difference between the trigger price and the filled price
4. Why slippages happen under certain market conditions and why your order may not be filled at the trigger price.
5. The index price, the mark price and the market price and significance of each of the above prices to an open position

sub435

newbie

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not need to make me a fool, who never trade margin, yes i was liquidates but how?
you need to read at least this, for understanding of my complaint:
"What happened: I got liquidated using nonexistent prices on bybit, and lost all, but infact i lost 50-60%, based on trade's details, other money bybit got to themselves."

yes its big difference 50%, its not slippage or something from your first post, its something else.

you can calculate how much i should lost here?

SOLUSDT Close Short 215 85.791
88.735
-1,011.58359889 Liquidation 2021-08-28 01:54:12

you just need (88.735 - 85.791) x 215 ? very simple isnt it ? but its not 1k$.

read carefully full post, there are no any unnecessary things

sub435

newbie

Activity: 4

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man, my advise - read carefully my topic and only after that tell me something about that. all what you said here have not any sense. and yes i spoke with support several times - no result. as you can see my topic have two quotes from them

TalkStar

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✅ Need Campaign Manager? TG > @TalkStar675

Please follow proper scam report format rather than publishing a composition like this. Sorry to say that maximum viewers will not be interested to read your thread after seeing your description. Maybe you haven't seen other posts properly before posting your one. I always suggest our new forum users to spend a minimum amount time by reading forum rules, Posting guidelines which help to learn how actually forum works.

If I am not wrong then you are trying to say that you got scammed by crypto trading platform "Bybit". They way you are trying to get attention of forum members is not proper enough.

You can follow this format and include all the information,

Quote

Scam Report Format

Code:

[b][color=black]What happened:: [/color][/b]

[b][color=black]Scammers Profile Link: [/color][/b]

[b][color=black]Reference Link: [/color][/b]
[b][color=black]Amount Scammed: [/color][/b]
[b][color=black]Payment Method: [/color][/b]
[b][color=black]Proof of Payment: [/color][/b]
[b][color=black]PM/Chat Logs: [/color][/b]
[b][color=black]Additional Notes: [/color][/b]

Copy and paste it in new thread then fill all data.

For better view you can visit this link; https://bitcointalksearch.org/topic/scam-report-format-use-it-to-make-scam-reports-properly-260073

sub435

newbie

Activity: 4

Merit: 0

<>
Ok, as beginning, i will leave here form like in TalkStar's example below (thank him), i understand that full text too big, but i should leave it here too, coz its including important things for better understanding as i think.

What happened: I got liquidated using nonexistent prices on bybit, and lost all, but infact i lost 50-60%, based on trade's details, other money bybit got to themselves.
Scammers Profile Link: https://bitcointalksearch.org/user/bybitcom-2431468 (last seen in 2020)
Reference Link: bybit.com
Amount Scammed: 500$
Payment Method: USDT, BTC, XRP
Proof of Payment: prnt.sc/1r7h3am / prnt.sc/1r7h53u / prnt.sc/1r7h55u
Chat Logs and Additional Notes below:

Hello, i got liquidated on bybit exchange and lost all my money, but as fact my lost was around 60% based on trade's details (prnt.sc/1r7h3am). I
was liquidated 3 times (also btcusd and xrpusd, tilt after SOLUSDT), but i will describe first one, in two other was all same.

Let we calculate it: Entry price = 85.791 x 215 = 18,445.9250 USDT. And Exit price was = 88.735 x 215 = 19,078.0250 USDT. So 19,078.0250 USDT -
18,445.9250 USDT = 632 $. So as a fact, i lost 632 $, but not -1,011.583 $.

I woke up and seen that i dont have position and any funds on my account, so position was liquidated at 88.7$. So, where is other money (1,011.583 $ - 632 $= 380$) ? And why 90.45$? (scrn 1 again), there are filled prices are different of same deal? wtf.. Look at time of liquidation and chart (prnt.sc/1r7h53u). You can see that there was no 90.45$ MUCH of hours, even more so pos was liquidated at 88.7$. Point 1 is candle where i was liquidated. and point 2 is candle where you can see 90.45$ first time ever. So, how is possible if we cant find that price at time of liquidation, and pos was liquidated MUCH of hours before that price, how its possible to calculate my loss like that ? they calculated me max loss when its impossible on time of closing position, so they just and calculated me it MUCH of hours before, and during this time i cant do anything with my position, i could fix loss and save my 380$. its just scam.

Sorawish:
"Please allow me to explain that the liquidation process will trigger
when the mark price hits the liquidation price. Once it it hit, the
system will try to close the position as quickly as possible given the
liquidity.
In the case of your position, the system was unable to close and
therefore ended up at the bankrupcy price of 90.45$"

1)"as quickly as possible" - system couldnt fix my loss during MUCH of hours from 88.7$ to 90.45$? its max loss for me. Scam.
2)"In the case of your position, the system was unable to close and therefore ended up at the bankrupcy price of 90.45$" - As you can see, there was much of hours for closing position on better price from moment, when i was liquidated (prnt.sc/1r7h53u). Also it was impossible to close position on 90.45$ (with max loss) all this time, even more so pos was closed at 2021-08-28 01:54:12 as you can see on prnt.sc/1r7h3am. So they just waited for max loss for me?

"2) Bankruptcy Price is used for the settlement of liquidated positions.
a) You may notice that the price shown inside Trade History for your
liquidated position will be higher (Sell Short position) or lower (Buy
Long position) than your initial liquidation price. This is called the
bankruptcy price.
b) This is to allow remaining margins to be credited into the
insurance fund, which is then used to absorb any contract losses if
other positions on Bybit cannot be liquidated at a price that is
better than the bankruptcy price
c) This may be a reason why the settlement price of your liquidated
order cannot be found on the chart.
d) From a trader's perspective, an insurance fund is beneficial as it
limits traders’ liquidations to lose no more than their position
margin (under isolated margin mode). For more info, refer to this"

Seriously? My loss will be calculated using nonexistent price, but as a fact market price will much lower at same time (for short) and its
ok? So, i will lose 60% of bankroll and they will steal my 40% for another operations, for their needs. Why i need to pay for somebody's
loss? Do you understand, its sick. i can pay only same amount which i lost on market prices. its super scam and they cant steal my
money. So now its their money which they can use for THEIR losses if system will calculate to other trader more loss than he can lose.
I hope you will help me somehow to get my money back, obviously its my money. 40% its big scam for stealing like that. They dont want to tell
me their regulator. Where i can complaint? There was also two liquidations on BTCUSD and XRPUSD (prnt.sc/1r7h55u).

BTCUSD: entry price = 48,911.7 x 9,537 qty = 0.19498282 btc. exit price = 48,662.0 x 9,537 = 0.19598454 btc. so ive lost = 0.19598454 -
0.19498282 = 0.001 btc, but not 0.002 (its 50%! around 50$). its impossible to fix position yesterday, with nonexistent price which you
can see only tomorrow. and what if you will not see that price?

XRPUSD: entry = 1.1300 x 6,000 = 5,309.73 xrp. exit = 1.1162 x 6000 = 5,375.38 xrp. so 5,375.38 - 5,309.73 = 66.07 xrp, but i lost 121.32...
all same, 121.32 - 66.07= 55.13 xrp i should get back, its around 70$!

So, 380$ + 50$ (0.001btc) + 70$ (55.13 xrp on current price) = 500$ in total. Its my money and i want it back.

Topic: scam on bybit derivatives (Read 173 times)