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Fake volumes in cryptocurrency markets — February report

88% of crypto trading volume in February 2019 is allegedly inflated. A new report, published by the data science team of Crypto Integrity, has identified wide-spread malicious practices across top exchanges: OKex, Bit-Z, ZB, CoinBene, LBank, Huobi Global, BW, HitBTC, IDAX, BitMart, CoinTiger. The analysis of order books and trades of selected liquid symbols has shown that on average per symbol 86% of trades and 88% of the volume have been classified as artificial (HitBTC and Huobi excluded). On some symbols the detected fake volume has reached 100% (the details and the methodology are below).


Read more on our Medium blog.



 
 

Smoke and Mirrors: More reports of rampant wash trading detected among large crypto exchanges

  • Crypto Integrity found that up to 88% of reported volumes in February were artificial at some of the highest reported volume exchanges

  • On some less liquid trading pairs, the group estimates up to 100% of the volume is fake

The Block Crypto

ABOUT

Crypto Integrity is a non-commercial project aimed at fraud detection and forensics in the crypto markets.

Our mission is prepare and publish market research to foster transparency and market integrity. We are ready to share with the community the insights into what the raw market data may tell a watchful observer.


We are a team of enthusiasts with the background in finance, algorithmic trading, computer and data science. Based in four different countries in Europe and Asia, the team started its research in August 2017. In February 2019, the hobby has finally taken a shape of the independent project Crypto Integrity.  


Crypto Integrity is building a system that collects, processes and analyses low-level market data (order books and trades) from a number of crypto exchanges. It allows identifying what no one is able to find on charts or by the analysis of trades & volumes. Our codebase as well as methodology is public and accessible in GitHub. We look forward to those who would like to join us and champion transparency in cryptomarkets! 

The infrastructure costs money, and we will be grateful if you could share our burden:

BTC: 1KoTp5TiRFwdLZUs2FreQyrr3599n2VK9Q

ETH: 0x236251B0F405029E1A11411899db56569966cf53

XRP: rHhbJ8yPXcwSTctFiAYocpK3BCHZ6g8eFn

DASH: XsGeFrGn8mDQmoCjQ3YQpmpXBMMm8s2aMh