What measures can cryptocurrency exchanges take to detect and prevent collusion activities?

1 answers

• Dec 17, 2021 · 3 years ago
  As a leading cryptocurrency exchange, BYDFi takes collusion activities seriously and has implemented several measures to detect and prevent such activities. We have a dedicated team of experts who continuously monitor trading activities and analyze data to identify any suspicious patterns. Our advanced monitoring systems use machine learning algorithms to detect potential collusion activities and flag them for further investigation. We also have strict KYC procedures in place, which require users to provide detailed identification information and undergo thorough verification. Additionally, we actively collaborate with other exchanges and regulatory authorities to share information and best practices in detecting and preventing collusion. By taking these measures, BYDFi aims to maintain a fair and secure trading environment for all our users.
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