Huobi, one of the oldest crypto exchange globally has been accused of manipulating votes and partaking in a conspiracy.
After receiving several claims of alleged suspicious voting conduct from major block producers, Block.one, the blockchain leader that provides high-performance solutions via Blockchain had this to say in response, “We are aware of some unverified claims regarding irregular block producer voting, and the subsequent denials of those claims. We believe it is important to ensure a free and democratic election process within EOS and may, as we deem appropriate, vote with other holders to reinforce the integrity of this process”.
The above response by Block.one is a reaction to allegations by top block producers, that Chinese cryptocurrency exchange Huobi had participated in voting manipulation and collusion within the platform.
These allegations were built on a Huobi Excel spreadsheet that was leaked on Twitter by a handle named “Maple Leaf Capital”. If you take a good look at the spreadsheet, you will find that it contains several NMVT (node mutual voting table and NIS (node income statement). Allegedly, it looks like the node was designed to secure mutual votes, pay-offs inclusive.
Meanwhile, the Chinese cryptocurrency exchange Huobi have blatantly denied the allegations of voting manipulation and claims that the allegations are not true and went on to seek the co-operation and patience of the general public in the matter.
In the same light, it’s evident to state that, the above case of voting misconduct isn’t the first time the EOS voting procedure will be receiving bad press, several top personalities within the crypto community have criticized the process in the past and among them is Vitalik Buterin, one of the co-founders of Ethereum. He has already voiced out his opinions as simply unfair and a lack of transparency regarding the voting process.