Wash Trading Rampant on Ethereum DEXs, Accounting for $2B in Fake Volume Since 2020

$2 billion in fake volume washed through Ethereum DEXs since 2020 according to crypto surveillance firm
67% of analyzed DEX liquidity pools manipulated by wash trading
Wash trading makes up 16% of total volume in manipulated pools
Group wash traded ShibaFarm token to lure investors before rug pull for $2M profit
Important to address wash trading as crypto gains institutional interest and regulator scrutiny

dailyhodl.com

Relevant topic timeline:

9/13/2023

Report: Wash Trading Rampant in Decentralized Crypto Markets, Distorting Billions in Volume

Over $2 billion worth of crypto has been manipulated through wash trading on Ethereum-based decentralized exchanges (DEXs) since 2020, according to Solidus Labs, with over 20,000 tokens being affected.