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KuCoin’s leaked ‘volume-boosting’ offers draw accusations of wash trading

by Isabel Woodford

February 20, 2019, 10:29AM EDT  ·  6 min read

Quick Take

  • The Block has found that KuCoin, a major Hong Kong exchange, asked projects at risk of being delisted to pay substantial volume-boosting fees
  • While it has been rumoured that crypto exchanges often fake volumes, multiple sources say KuCoin asked them to pay for the service 
  • KuCoin told The Block saying the communications may have come from fake or rogue employees

by Isabel Woodford

February 20, 2019, 10:29AM EDT  ·  6 min read

There appeared to be only one logical conclusion when 16 tokens were simultaneously delisted from KuCoin in late 2018: they were useless tokens, and the Hong Kong-based exchange was making an example of them for failing to generate trading volumes for its 5 million registered users.

But, as ever in crypto, the story goes deeper.