RE: Why Is SBD Getting Dumped Like This?
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They are using different gateway, other known gateways are hitbtc-payout and hitBTC-exchange, there is payin, you can follow the money flow with hitBTC-exchange account, and you probably have a point with the SBD/BTC market pair it joins around at times with some crazy numbers, not to sure its entirely correct myself but I can say, there are traders trading that pair, its a favorite in the trollbox
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Between those other accounts and the hitbtc account there are 6k+ SBD so the difference with that amount and the order book does look a little suspect. You can see why I question the validity of the trading data that they report. The other exchange that looks fishy (when it comes to steem/sbd is bithumb) but I haven't looked much deeper into them.
I agree with the approach of taking everything with a pitch of salt but also remember that there is conditional orders. So even when you see order appear and disappear, it does not mean anything sinister is taking place. Keep in mind that traders themselves and trading groups try to paint a picture on the charts and the order book.
If the risk is to much for you to stomach I advise just setting it out but don't do like others I see here just making post for drama when folks like myself are making real money on it.