According to Forbes, more than 50% of bitcoin transactions on exchanges are fake

Forbes journalists have analyzed data from 157 cryptocurrency exchanges and concluded that bitcoin trading figures are grossly overstated.

The published report says that on July 14, the volume of trading with BTC amounted to USD 128 billion. The exchanges reported a volume of $ 268 billion. It turns out that more than 50% of these trades are fake information or transactions that do not make economic sense.

The authors of the report argue that unregulated or weakly regulated exchanges, including Binance, Bybit, MEXC Global, and others, most often overstate trading volumes. Such exchanges reported that the volume of trading in the No. 1 cryptocurrency reached $ 217 billion, when the actual figure reached $ 89 billion.

According to experts, this is how exchanges try to attract the attention of users. In addition, overstating trading figures with economically unprofitable transactions helps exchanges look more solid in the eyes of users and potential traders.

We stand for honest journalism, so we are waiting for comments from representatives of cryptocurrency platforms and are ready to publish them.