Crypto exchanges have been caught in the mass laundering of XRP

Crypto exchanges have been caught in the mass laundering of XRP

Successful Crypto Meet-Up – Ripple is NOT XRP – Crypto Exchanges Crashing and Responsibilities? 👊😎

Contents

Crypto exchanges have been caught in the mass laundering of XRP
CONTENT

  • Crypto exchange caught in money laundering

  • Most sites show the same trading volumes for the XRP / USDT pair

  • Despite a 40% drawdown in XRP, trading volumes have barely changed

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Crypto exchanges have been caught in the mass laundering of XRP

Amid the litigation of the American regulator and Ripple, many exchanges began to show the same XRP trading volumes

Crypto exchanges have been caught in the mass laundering of XRP

Cryptocurrency exchanges are massively involved in laundering XRP token trading. At least this is evidenced by the identical trade volume data on coinmarketcap.com.

 Source: twitter.com

Cinneamhain Ventures partner Adam Cochran was the first to notice the same trading volumes.

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“It looks like XRP bots and laundering systems have screwed up today,” Cochran wrote on his page..

The list of trading platforms with suspicious activity includes: Bidesk, Mexo Exchange, HBTC, Bitribe, Xtheta Global, Dsdaq, HitBTC, Bitcoin.com Exchange, Changelly PRO.

Source: coinmarketcap.com

Notably, the list also includes the Korean division of the Binance crypto exchange, Binance Korea. At the time of this writing, the trading volume in the XRP / USDT pair on Binance Korea is $ 1.4 billion. At the same time, earlier Binance announced its decision to close the exchange due to low trading liquidity.

Slippery market

In addition, Cochran considers it “super suspicious” that the average XRP trading volume did not stagger much in December despite a 40% collapse in the asset price. .

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 Source: twitter.com

This is not the first time CoinMarketCap has seen discrepancies in trading volumes. Earlier, the founder of the largest Ukrainian crypto-exchange Kuna, Mikhail Chobanyan, suggested that CoinMarketCap deliberately winds up the liquidity of some trading floors..

Read also: Cryptocurrency exchanges began to get rid of XRP

Chobanyan suggested that users should not trust CoinMarketCap statistics, since almost all sites are likely to deceive their users..

Crypto exchanges have been caught in the mass laundering of XRP

Earlier, the editors of BeInCrypto reported that CoinMarketCap has removed a metric indicating the level of potential money laundering. The service later stated that the new metric only adjusts the volume coming from the markets without commissions, and has nothing to do with suspicious trading activity..

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