Tuesday, March 28, 2023

70 percent of crypto transactions are fake

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Manipulated trading data

Two-thirds of all crypto transactions were fake

A large-scale study shows that the buyer and seller were identical in many trade transactions that were carried out automatically. Another blow to the ailing crypto industry.


The crypto industry, in the picture the cryptocurrency Bitcoin, has been going through a serious crisis for months and is repeatedly confronted with allegations of fraud.


Jean Claude RaemyEditor Economics

The crypto industry is currently going through such a crisis that the term “crypto winter” has already established itself. What is meant by this is that after the bright years of the upswing, a gloomy, depressed atmosphere now prevails around the topic of crypto.

The latest report is still a shovel on it. According to the “Sonntagszeitung”, researchers from the USA, Great Britain and China presented sobering results in a work published by the American National Bureau of Economic Research (NBER). Accordingly, 70 percent of all transactions on a total of 26 unregulated crypto exchanges were just fake.

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