i have participated in this event last time it happened and i can answer a few of the concerns above.
Cheating: It is mostly up to the players to find out suspicious activity (tho safetrade is a bitch to track for most users) and report it to the mods. Usually the cheaters get banned pretty fast.
Lucky deals: They always happen, a hunter force for 1k is possible. For example last time i found a guy and i bought full 512 for 150k (when they were 330k) and 5 flames for 75k from a guy that dosen't play anymore.
Join this chirox, there is no competition otherwise :P