Huobi Global, known as one of the top cryptocurrency exchanges in the world has made a bad habit of practicing limited supply trading on its traded coins in complete disregard of markets outside their exchange. By closing off withdraws and deposits for specific coins, they use their bots to trade these coins at prizes that belong only in the realm of fantasy. Whether the purpose of this is to fool naive investors into buying at the wrong price, to kill enthusiasm in the coin communities behind these coins, to help facilitate big sell-offs of these coins on other exchanges, a delusional attempt to create hype for the coin or to have a tamper-free platform for money laundry; the conclusion will always be that the practice is simply wrong.

One of the things that make cryptocurrency special is that it can be truly held by the owner. For affected coins on Huobi, not only is this not possible, but it is also an attack on free and open global markets, another hallmark of achievement for this industry. My plea is that the practice of trading coins under conditions of being closed for withdraws and deposits should be made illegal.

If Huobi for some reasons of security deems it necessary to temporarily suspend withdraws and deposits, then this should perhaps be allowed. But affected coins have been closed off for several months, and in some cases several years. Such prolonged close-off, of in particular withdraws is a definate case of hostage, and could possibly regarded as theft, if the token in question has powers to generate income.

The currently most affected coins are FSN, ACC, ADX, BCD, DGB and AKRO. A quick look at their charts compared to the general market, will quickly display the importance of limiting this.

If you agree that it is wrong, please sign and spread, so that perhaps the crypto-friendly nation of Singapore will take new strides in a positive direction for the whole industry.