Even though wash trading is illegal, Bitfinex continues to conduct it as a part of its operations, according to BitCrypto’ed, who has dedicated his time to exposing malpractice at Bitfinex. A two-part blog post outlines the suspected misconduct. The first part explains what happens and how the exchange benefits, with the second part touching on the reasons behind it.
Market manipulation increases with the surging volume of cryptocurrency market. The fact cannot be avoided that fraud continues to rise along with security measures.
Quite confusing, right?
Before proceeding, let us clear up the term ‘wash trading.’ […]