Cryptocurrency exchange Bitfinex announced that it will adopt a new tool called Shimmer to monitor suspicious market activity, combat “market abuse” in the crypto market, and promote “secure and orderly transactions.” According to Bitfinex, once abnormal trading activity is discovered, Shimmer will forward the details of the suspected manipulation to Bitfinex’s monitoring team, and relevant experts will receive an email summary with all trading pairs involving suspicious transaction patterns for the expert to take further action. Depending on the severity of the situation, experts will take different measures. Bitfinex states that the purpose of this new tool is to bring a fair and safe market to all traders, and Bitfinex will always act in the best interest of the Bitfinex community. One of the biggest manipulation strategies that Shimmer can prevent is washing transactions (that is, buying and selling assets for the purpose of misleading the market) and tiered transactions. In tiered transactions, buy orders are used to mislead the supply and demand relationship of specific tokens.