wash trading

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Opensea’s All-Time NFT Sales Volume Crosses $20 Billion

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Data indicates the non-fungible token (NFT) marketplace Opensea has crossed $20 billion in all-time sales. The leading NFT marketplace has seen more than 1.2 million traders leverage the platform since the market’s inception in 2017. 1.2 Million Opensea Traders and $20 Billion in Sales Volume Metrics show that the NFT marketplace Opensea has surpassed $20 … Read more

Report: Chainalysis Detects ‘Significant’ Wash Trading Using NFTs

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Chainalysis, one of the leading blockchain and cryptocurrency auditing firms, has issued a report indicating signs of significant wash trading activity involving NFTs. In these operations, some actors effectively sell their assets to themselves, with the intention of increasing the floor price of the NFTs to sell them at a higher price later. However, this … Read more

South Korean Authorities Formally File Fraud Charges Against Coinbit’s Executives

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In South Korea, authorities have formally pressed fraud charges against the chairman of a major crypto exchange in the country, Coinbit, plus two unnamed executives of the firm. They are suspected of price manipulation. Coinbit’s Executives Formally Charged by South Korean Authorities According to Newspim, the 5th Investigation Team of the Seoul Metropolitan Police Agency … Read more

Korean Police Seize Crypto Exchange Coinbit Over Allegations of $84 Million in Wash Trades

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Police in South Korea on Wednesday raided and seized the offices of Coinbit, the country’s third largest crypto exchange, over allegations it faked 99% of its trading volume. According to a report from Seoul News, local police took control of Coinbit’s headquarters in Gangnam as well as other sites elsewhere. Police accuse the exchange’s owner … Read more

Canadian Regulator Accuses Coinsquare of Market Manipulation With Wash Trades Worth 590K BTC

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The Ontario Securities Commission has started a proceeding against cryptocurrency exchange Coinsquare and its executives. The Canadian regulator has accused the company of market manipulation, with 840,000 wash trades worth approximately 590,000 bitcoins, representing 90% of the exchange’s reported trading volume. The OSC Takes Action Against Coinsquare The Ontario Securities Commission (OSC) published on Thursday … Read more