Bybit Disqualifies Top 1 Team In WSOT Trading Competition For Achieving 30,000% ROI
- Bybit disqualified the number one team in its annual trading competition, WSOT.
- The team named Apolloventures.cz achieved a 30,000% ROI with only 19 members.
- Bybit claims that the team manipulated altcoins with low trading volume to make profits.
Bybit disqualified the #1 rank team in its trading competition for manipulating altcoins and achieving an unrealistic ROI of 30,000%. Despite the disqualification, the team gained attention and followers.
Bybit has disqualified the number one team in its annual trading competition, WSOT. The team, named Apolloventures.cz, achieved a 30,000% ROI with only 19 members.
Bybit claims that the team manipulated altcoins with low trading volumes, such as CEEK and ALPACA contracts, to make profits. Bybit trader DeFi^2 stated that these types of transactions are easy to detect, but the team’s purpose was to gain exposure and attract users to join their community, such as Discord, and purchase their transaction services.
Although the official reason for disqualification was not made public, it is clear that the team made the most money on perps contracts with close to no volume.
The winning team was buying contracts on illiquid tokens, using a second account to buy it up, then selling on the original. This effectively becomes a balance transfer between accounts, appearing to the competition as a high ROI when in reality, no money was made.
Despite the team’s disqualification, they received free advertising and thousands of users joined their group during their short time in the spotlight. However, users should not buy their services, as they will not get a 30,000% ROI.
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