Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Nostoman on June 13, 2020, 10:08:23 AM
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Leaked documents reportedly show the CEO of Canadian crypto exchange Coinsquare orchestrating wash trades to boslet volume.
In the latest blow to the embattled Canadian cryptocurrency exchange Coinsquare, reports are accusing the platform’s top executive of orchestrating a wash-trading scheme in clear violation of securities law.
Wash-trading refers to an exchange artificially inflating its trade volume through executing larger zero-fee market trades into their own orders, creating the appearance of large trading activity without any assets changing hands. The practice is illegal in traditional asset markets due to its propensity for price manipulation.
Source: https://cointelegraph.com/news/coinsquare-ceo-accused-of-orchestrating-wash-trades
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Actually wash trades exist in every exchange, even Binance. It's just the matter of more or less. Most of top volume exchange in Coinmarketcap use bot trades. This issue in fixed only when we have a legal frame for crypto trading. But we don't even have a frame for cryptocurrencies yet.