A United Arab Emirates-based financial services firm called CLS Global recently agreed to resolve criminal charges involving fraudulent market manipulation and wash trading in the crypto industry. Uniswap is accused of generating fake trading volume through automated self-dealing, tricking investors, and pumping the perceived crypto market activity. Company Pays Penalties and Faces Exclusion from US […]
wash trading
NFT marketplace LooksRare site restored after a brief DDoS attack
Newly launched Nft marketplace LooksRare suffered a distributed denial of service or DDoS attack briefly in the late hours of Jan 29, 2022. Following this, the backend team responded in a short time, and within the minutes, the website was restored back again with users applauding the quick response. Some even threw a jibe at […]
South Korean Authorities Confiscate Major Crypto Exchange for Wash Trading
The oldest newspaper in South Korea, Seoul Shinmun, reported on August 26 that the third-largest cryptocurrency exchange in the country, Coinbit, had been seized by law enforcement authorities on allegations of bloating trading volumes. According to the report, the South Korean authorities invaded the exchange offices on Wednesday morning after discovering that the platform had […]