Are Cryptocurrency Exchanges Lying About Their Volumes?

[kreslik.news]

A dramatic piece written by cryptocurrency trader Sylvain Ribes, published in Medium, claims to reveal that a large part of the trading volumes claimed by some major cryptocurrency exchanges is actually fictitious. Ribes says that his investigation reveals that more than 3 billion USD of daily volume is completely made up.

He identifies the biggest culprit as OKex, which is currently ranked as the biggest exchange in the world on coinmarketcap.com, with daily trading volumes displayed as more than 1.5 trillion USD.

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Ribes wrote: “It is an absolute disgrace that ... (read more)