A recent analysis of user behavior has revealed several attempts to artificially inflate funding rates for certain currencies through a particular pattern of taking and returning funding. The pattern and scale of these user actions indicate systematically manipulative behavior. Such behavior is strictly prohibited.
To prevent exploitative behavior and to protect traders and lenders, Bitfinex is adjusting how fees are handled in these situations.
Effective immediately, the platform will charge one full day’s interest on any funding that is borrowed and subsequently returned without being used in a financed position. This change will not impact most traders or funding providers. It will act to dissuade manipulative behavior and ensure fair platform use for all.
Platform monitoring tools will continue to detect disruptive, distortionary, or manipulative borrowing practices in order to maintain the best possible environment for traders and funding providers. Please note that levying this new fee does not endorse or condone this behavior. It is still impermissible, and we reserve the right to take further punitive measures as we deem necessary to ensure the integrity of the financing platform. Specifically, users subject to this fee may be flagged for further investigation and may be subject to further sanction, at our discretion.
If you have any questions about how this may affect your trading or financing activities, please reach out to [email protected] and we will happily help you.