BKEX provided trading data copied from Binance.

Cryptocurrency exchange forges data on trading volume. A group of researchers studied the practices that apply unscrupulous trading platforms. Trading company Alameda Research, founded by graduates of the Massachusetts Institute of Technology (MIT), published a report that lists methods of falsifying data on the volume of trades that are actively used by cryptobirds. So, the researchers Alameda found out that the BKEX cryptobirth, founded in 2018 and registered in the British Virgin Islands, simply copied the data on the history of trading in Binance and gave them as its own with a time delay of a few seconds. According to CoinMarketCap, the daily volume of BKEX is $ 1.1 billion, making it the 20th largest crypto trading in the world. Cryptobirds often use another method of falsifying statistics: they “mix” false data about large transactions with reliable information about a variety of small transactions. Thus, CoinEgg registered in Hong Kong with a daily trading volume of $ 1.1 billion, according to CoinMarketCap, recently used this tactic for lightcoin transactions (LTC), as did Singapore’s Digifinex cryptographic trading, in which Alameda found suspicious transactions performed at prices that differ from the prices of other orders. In total, the Alameda report provides examples of suspicious trading patterns on 60 different cryptobirths. According to Alameda, 87% of the volume of transactions with cryptocurrency and its derivatives occurs on Asian exchanges and only 9% are on sites in the US, which is associated with a more rigid regulatory environment. The real trading volume on Alameda exchanges was estimated at $ 38 billion.

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