Crypto Game
  • Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News

    GameStop Secures $2.7B for Bitcoin Treasury Expansion

    Senator Lummis Proposes U.S. Strategic Bitcoin Reserve Act

    Senator Lummis Reintroduces BITCOIN Act for U.S. Reserve

    ProCap Acquires $125M in Bitcoin for Treasury

    ProCap BTC Acquires $125M in Bitcoin for Treasury

    Hong Kong Approves Mainland Broker for Bitcoin Trading

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar

    zkLend Winds Down After Major Security Breach

    Cardano’s Glacier Drop Airdrop Sparks Massive Interest

    BlackRock Purchases $98 Million in Ethereum ETFs

    BlackRock Invests Over $750M in Ethereum ETFs

    Pi Coin Soars 14% as Pi2Day Event Approaches

    Tether Acquires 10.7% Stake in Juventus Football Club

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    Benefits Of Choosing the Right AI Trading Bot

    4 Benefits Of Choosing the Right AI Trading Bot

    Crypto Trading

    A Beginner’s Guide to Crypto Trading: Unlocking the World of Digital Coins

    BitcoinGames.com

    BitcoinGames.com Introduces the Ultimate Casino Gaming Experience with Bitcoin

    How AI is Helping Athletes and Fans Get the Most out of the Game

    From Training to Judging, AI is Entering the Ring

    Top 5 Websites for Buying Gift Cards with Crypto

    Clutch Savours – Gift Certificates You Can Buy with Crypto

    Layer 2 Blockchains

    Everything You Need To Know About Layer 2 Blockchains

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

BTI Exposes Wash Trading in Exchanges, Experiences Mysterious DDoS Attack

Tony P. by Tony P.
September 27, 2019
in Exchanges, Latest News
Wash trading

The Blockchain Transparency Institute (BTI) has experienced a deadly DDoS attack on its website shortly after exposing various crypto exchanges that engage in wash trading to boost their volumes.

As of this writing, BTI website, including its wash trading reports, remains inaccessible, an indication that the attack is still ongoing. BTI is a regular publisher of investigative reports that expose the illicit activity in the crypto space. BTI took to twitter, explaining that their site went blank following OKEx response. OKEx is one of the exchanges accused of carrying out the volume-boosting activity.

Exposing Wash Trading Platforms

In May and September 2019, BTI issued reports that seem to rub various crypto exchanges in the wrong way. In the latest report on September, BTI claimed that its reports have helped to reduce the total volume of wash trading by up to 35 percent among the top 40 major crypto exchanges.

The aim of publishing the reports is to keep trading clean and make traders honest. Some of the cleanest exchanges, include Coinbase, Kraken, and Poloniex. These exchanges have no taint of wash trading.

Various exchanges have received the red mark as the worst offenders. They include OKEx, Bibox, and Bithumb. These trading platforms use illicit activity to boost their trading volume in order to attract customers.

Sometime this year, Bitwise sent a report to the Securities and Exchange Commission (SEC) claiming that Bitcoin daily volume was only $272 million per day. This implies that up to 95% of the reported daily trade volume was inflated by volume-boosting strategies such as wash trading.

A Grey Area in Crypto Trading

In the crypto space, wash trading is an enshrouded grey area with no legal clarity. Following the Bitwise report, Huobi, which was named among the worst offenders, tendered an apology:

“We did identify a few of our market makers conducting what we suspect may have been wash trading for the sake of performance and marketing purposes. We have already communicated with these market makers and they have discontinued the strategies in question.”

So far, Huobi and other mentioned offenders have scaled down on the activity by updating their terms of use to prevent the practice on their platforms. However, OKEx decided to sternly defend itself, contesting all the allegations of wash trading on their website. In a recent tweet, OKEx CEO placed a 100 BTC bet to BTI, promising to prove that more than 10 percent of its trading volume is genuine.

Featured image: twitter.com

Tags: BitcoinBitwiseBlockchainBTIWash Trading
Previous Post

Coinbase vs Kraken | Exchange Comparison in 2022

Next Post

BitMEX Exchange Review | Fees, Security, Pros and Cons in 2019

Tony P.

Tony P.

Related Posts

EU Introduces Strict Stablecoin Regulations Amid ECB Concerns

by Solomon M.
June 25, 2025

EU proposes regulations for stablecoins, addressing ECB's monetary policy concerns.

Federal Reserve Announces Staffing Reductions Amid Efficiency Review

by Solomon M.
June 25, 2025

Federal Reserve cuts 10% of staffing under Jerome Powell's efficiency plan, affecting 2,500 employees.

Federal Reserve Announces 10% Staff Reduction Plan

by Solomon M.
June 25, 2025

Fed Chair Jerome Powell outlines plans for reducing staff by 10% to modernize operations by 2025.

Trump Interviews Fed Candidates Amid Powell’s Rate Cut Refusal

by Solomon M.
June 25, 2025

Trump evaluates new Fed Chair candidates as Powell maintains current interest rates.

GameStop Raises $450M Through Zero-Interest Convertible Notes

by Joshua T.
June 25, 2025

GameStop boosts its capital by $450M through zero-interest notes, fueling speculation over potential crypto investments.

GameStop Issues $450M Zero-Interest Notes in Fundraising

by Solomon M.
June 25, 2025

GameStop raised $450M to enhance financial strategies through zero-interest notes, increasing total raised capital.

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Crypto Betting
1xBit.com
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.