“By this time (early to mid 2013) 2+2 knew for certain the site was broke…with no real proof of course, and Lock was still selling at about 80 cents on the dollar which means that some people were getting hefty cashouts, otherwise it would have been much lower,” the former Lock Pro explained.
The Pro went on to say, “I heard of one non-pro getting biweekly Skrill withdrawals for $10k. He would purposely drive the price down on 2+2 and buy as much as he could on the site, then he would rake $20k or more per month to keep getting the expedited cashouts. He was making $20k a month just by working the system.”
So how does one drive down the price of Lock funds?
“Someone who wants to drive the price down just has to be very active on 2+2. There are many ways to do it.
They can fake long withdrawal times. They can start rumors that Lock had all of its funds seized from foreign banks or frozen from processors being shut down. They can also just keep posting that they are buying funds at .05 lower than market rate, that almost always will drive the funds down.
Ultimately though the only reason the price was dropping so fast was because Lock was taking forever to pay out.
Many poker players don’t have money and they relied on getting funds off just to live. If someone has bills to pay and has 50k on Lock they will sell at .05 lower just to get their money off.”