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Tag: wash
Binance CEO raises concern over wash trading amid zero-fee Bitcoin trading
Binance, the world’s largest exchange by trading volumes, recently launched zero-fee Bitcoin trading. However, this move has not been without issues, as the CEO of the exchange, Changpeng Zhao, raised...
After Bitcoin Wash Trading Surges on Binance, CEO Nixes Incentives
Binance CEO Changpeng Zhao is cracking down on wash trading occurring on its crypto exchange following the firm’s decision to remove fees for Bitcoin spot trades. Wash trading is when when traders se...
Binance removes Bitcoin trading from VIP incentives to prevent wash trading
The CEO of Binance, Changpeng Zhao, has announced a plan to crack down on wash trading. Zhao noted that wash trading activities were rampant on the exchange since the platform introduced zero-fee Bitc...
Binance To Exclude 13 Spot Bitcoin Pairs From Trading Volume Calculations As Wash Trading Spikes After Zero Fee BTC Trading
– Advertisement – Binance sees a wash trading spike putting the decision to make trading on BTC pairs free into question. Binance, in a blog post late Friday, has revealed that it would ...
Binance users support 0-fee trading despite CZ’s wash trading concerns
Both traditional and crypto investors consider trading fees as one of the most significant liabilities when it comes to investing over exchanges. So no wonder when Changpeng “CZ” Zhao, the founder and...
Over 33% of NFT Volume is Wash Trading: bitsCrunch CEO Interview
NFTs were undoubtedly the hottest topic of late 2021 and the beginning of 2022. Pushed towards mainstream adoption by projects such as the Bored Ape Yacht Club, Azuki, Okay Bears, and others, NFTs wer...
All you need to know about Wash trading and money laundering in NFTs
Cryptopunks, a Larva Labs NFT project, witnessed a “wash sale” on the Ethereum network in October 2021. Wash trading may be undertaken by a trader or a firm for a variety of reasons. For instance, the...
What are wash trading and money laundering in NFTs?
NFT wash trading is a problem for investors, the global community, collectors and traders because these participants use less liquid nonfungible tokens to manipulate the price of an asset. Due diligen...
Solana NFT sales pass $1.6B, wash trading on LooksRare and more
The Solana network is gaining traction among nonfungible token (NFT) traders as total sales have surged past $1.6 billion, making it the third most active blockchain by NFT sales volume. Data from NFT...
Report: Wash trading accounts for 95% of LooksRare trading volume
When LooksRare started operating in January, it came with the promise of challenging OpenSea’s dominance in the NFT space. But three months down the line, it seemed to have developed a reputation for ...
95% of Trading Volume on LooksRare Linked to Wash Trading
Data platform CryptoSlam found that approximately 95% of activity on the NFT marketplace LooksRare stems from wash trading. LooksRare is an NFT marketplace launched by two anonymous developers. Report...
The Crypto Crime Series: NFT wash trading is harder than you think
All new technology comes with significant potential for abuse. Non-fungible tokens (NFTs) are no different. And while the new asset class is yet to suffer from major thefts, it lends itself to two pre...
“Plagiarism” and “wash trading” issues forced NFT marketplace to suspend sales
The foremost NFT platform, The Cent, has announced the suspension of sales of the blockchain-backed digital arts for the time being. The decision to stop most of its transactions was made after detai...
This Week [In] Crypto: Billions Recovered, Wash Trades, Trillion Rubles in Taxes
Did you miss anything important [In] Crypto this week? No worries, we got you! We saw everything from recovering billions of dollars to white hat hackers saving Coinbase to Samsung’s crypto wallet ann...
Coinbase report looks beyond wash trading to reveal the truth about OpenSea’s competitor
Based on its successful 2021 performance, OpenSea was probably expecting 2022 to be a year of smooth sailing and swelling profits. However, the NFT marketplace LooksRare swept into the scene like a ti...
Melania Trump NFT Sale Was A Wash Trade?
The latest NFT of former US First Lady Melania Trump was recently sold at 180,000 SOL ($170,000 at the time of purchase). The NFT is a wide-brimmed white hat she wore during the French President Macro...
Data Shows Melania Trump NFT Sale Was a Wash Trade
Melania Trump recently sold an NFT of a hat she wore during a visit with French President Emmanuel Macron for $170,000. Blockchain data shows that the NFT ended up selling to its creators. Melania Tru...
Chainalysis Detects ‘Significant’ Wash Trading Using NFTs – News Bitcoin News
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...
Chainalysis report finds most NFT wash traders unprofitable
Nonfungible tokens (NFT) have taken the world by storm, resulting in mainstream interest and greater adoption of cryptocurrency. According to blockchain analysis firm Chainalysis, NFT popularity skyro...
Unscrupulous traders made $8.9M via wash trading NFTs, says Chainalysis data
TL;DR breakdown NFT sellers are suspected of making hundreds of wash deals More than $44 billion (£32 billion) worth of bitcoin was sent to NFT-related smart contracts last year Non-fungible tokens (N...
‘Significant’ Wash Trading, Money Laundering in NFT Market: Chainalysis
Chainalysis—a blockchain analytics platform—has found “significant” evidence of wash trading and money laundering in the emerging NFT market. “As is the case with any new technology, NFTs offer poten...
NFT trades on LooksRare are mostly wash trading, accounts for over $8 billion
LooksRare popped out of the blue in 2022 as the NFT marketplace that’ll potentially replace OpenSea. With almost $10 billion trading volume on Ethereum, it appears to be giving OpenSea a run for its m...
Clever NFT traders exploit crypto’s unregulated landscape by wash trading on LooksRare
LooksRare made its debut on Jan.10 and the recently launched NFT marketplace has drawn a lot of attention, not only because its daily trade volumes were more than double Opensea’s on the second day of...
LooksRare Surpasses OpenSea in Trading Volume Via Wash Trading
The new kid on the block, LooksRare, has done more trading volume than OpenSea since its launch. But is there more to it than meets the eye? LooksRare’s trading volume exceeded $8B in wash trades toda...
LooksRare Has Reportedly Generated $8B in Ethereum NFT Wash Trading
In brief New NFT marketplace LooksRare is rife with wash trading as users attempt to game the trading rewards model, according to analytics firm CryptoSlam. CryptoSlam estimates that LooksRare has gen...
Hot Ethereum NFT Platform LooksRare Is Rife With Wash Trading—And OK With It
In brief LooksRare is a new Ethereum NFT marketplace that uses a token incentive model. Trading volume has soared, but the platform is currently overrun by wash trading. The NFT market got a jolt this...