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The Tie, a cryptocurrency transaction analysis platform, warned that cryptocurrency exchanges may be doing wrong 90% of the reported transactions.
According to a research report released by The Thai, as a result of organizing the numerical information collected from 97 exchanges, it was found that most of the sales claimed by the exchanges did not actually exist and were likely to be abnormal.
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75% or exchanges reported trading volumes that were more than double what we would have expected. In the chart below those exchanges are colored red.
The exchanges that had expected volume/reported volume ratios greater than 50% were colored green. pic.twitter.com/RamD4dGaLY
— The TIE (@TheTIEIO) March 18, 2019
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This fact came from comparing unknown exchanges with famous exchanges such as Binance. Regarding these results, The Thai said that 87% of the exchanges are suspicious of the transaction volume, and 75% of the exchanges estimates that they are somehow engaging in suspicious activities. In addition, the sales per visit to famous exchanges such as Binance and the actual transaction amount between exchanges are expected to be $2.1 billion a day. However, based on the figures collected for each exchange, the company said its sales were $15.9 billion. Related information can be found here .
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