Bitcoin Forum

Coinex suddenly jumped to no 1 by volume? what exchange this?
https://www.coingecko.com/en/exchanges/

I am unsure of this one

It's wash trading: their bots buy and sell to each other to rise up trading volumes on BTC/USDT pair (making fake volumes).

There're some exchanges like this one, for example: etherflyer.com. All of them are using bots trading to make artificial liquidity. I have tried to place some orders to test their systems and the result is that my orders did not match unless I buy/sell at the market prices. lol

Many fake accounts have signed up on coinex, which is only looking for registration bonuses.

It's pretty rediculous how coinex has been getting more than 1 billion for the daily volume trade of bitcoin. It's more than 40% from all daily trade volume of bitcoin. it looks like this exchange site has so many manipulation i suppose but i guess i just try to buy some coinex shares.

Something wrong with their system for sure, and I know its a pure manipulation so they can attract more user/investor. Fake accounts, unbelievable trading volume and many more. Pumping the exchange using bots, be careful with dealing on this kind of exchanges, just saying.

I have been trading here for about four months.  They had some kind of BCH incentive that I went for and so far the exchange operates fine.
I have made many small withdrawals from original deposit and they have some kind of mining by exchange with their currency.  Does anyone know how this works or what is the minimum CET token you need for it to work?  I know I got a lot of airdrops from them, which is always nice (even if they aren't worth much, many airdrops aren't).  Their CET airdrop was actually worth something.

https://support.coinex.com/hc/en-us/articles/360006277834?input_string=how+does+mining+by+cet+work%3F

If they are getting that type of volume legitimately then it must be some type of playground for whales, although they do tend to gather on bitmex. As no-one has heard of this exchange it is safe to say that most of it is created by trading bots, but they move in large volumes rather than just being activity bots.

Coinex is an exchange site who has used the the bot to manipulate its volume  as you can see it's not even counted to be included on top 100 exchange site with adjusted volume. all of volumes in the coinex is purely manipulateion by the developer itself. this should not be counted as exchange site dude.

to me i m sure of binance trading platform, that has been the trusted and largest exchange.. i think coinex is just a new exchange that was recently launched.

This is one-way Coinex can be accepted well in exchange, I think this is quite unique and many will question this, if you believe it please just go further, if not sure then leave it. All of this needs to be re-studied and evaluated to be explained.

Bitforex is the largest at this time in trading volume. But it is always important to point out that much of this volume is fake or are Bot accounts. This is good for the liquidity provided. But it does not mean it's the biggest asset. Banks are ranked using assets. I think the exchanges should be that way, too. Or by registered customers.

I also believe such sudden volumes out of nowhere are almost certainly wash trade, fake volumes generated by bots. But is there a way to be 100% sure of that and to know which % of the traffic is actually for real?

Not only generated by the bots but it can also be the exchange itself. They want to manipulate their own volume and market so they can attract more traders to come to their exchange. But most of the traders now are wise and will not buy on that gimmick though its really happening until now.

Coinex is almost dying, their native coin (CET) is at a state of limbo. This bears season has made a lot of traders wiser and more circumspect. No one is falling for the fictitious acts of these exchanges no more.

i have a interesting talk with their support team..i will come back with more details on how this will get solved. i will also drop a scam accusation if they do not solve my issue.

i have issued a scam accusation on coinex because now i am convinced this operation is a scam. save your asses by getting the fuck out of there
https://bitcointalk.org/index.php?topic=5065260.0

Many cryptocurrency exchanges show fictitious trading volumes. I noticed it on the exchanges bitmart.com and coinbene.com

There are just a few transactions per day, and in the reports trade for half a million dollars

I think this is also the reason why they divide the exchange into centralized and decentralized section. The bots there and bitforex are now in trend so what's called market maker that comes with the package of some exchange listings.

A lot of depends on how this bot works. If all volume disappears when you trying to make a trade this is not fair and I trying to avoid such exchanges. 

It is easy for exchanges to reach the top 1 volume per day. I have seen a lot of spam exchanges reaching the top 1 when they use the bot and make fraudulent trading orders, in fact no one is trading there

This is for a short period of time.
Such exchanges usually disappear in history. Nobody will move their depo on strange exchange only because of number one volume)

There are alot of suspicious activities going on on most of these new exchanges, since the launch of trade mining it is a very difficult issue to know the amount of volume on these exchanges that are actually real, if I were you I won't trade there until I know my funds are safe on those exchanges

Often they take for free listings coins that have small teams but are still good coins with honest people.   It's your only bet if you don't currently want to spend the money for the listing fee.  Some will probably build up trust in time.  You can get in and get out, and maybe reward them for listing your coin by doing a some trading there.

That's right, this bear created a good effect through teaching us on how to be wiser. But if its for this exchange and of the same I'll stay away and going to secure my trading experience with a better one.