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

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
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. The […]

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May 5, 2022, 3:17PM UTC