Just minutes after Bloomberg reported that ‘Flash Boys’-like trading manipulation is rampant on certain cryptocurrency exchanges, the entire crypto space tumbled on heavy volume.
According to a paper from researchers at Cornell Tech and several other universities, special arbitrage bots are anticipating and profiting from ordinary users’ trades on decentralized exchanges, which let them trade more directly.
“We have no idea what the extent of the malfeasance is on centralized exchanges,” he said in a presentation last week during a blockchain conference at Cornell Tech’s New York City campus.
“If we extrapolate from what we’ve seen on DEXes, it could well be on
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