Coimarket.com alt coin (coins) daily volume is a fake?

[oldloco]

Hey guys. Came across some interesting stuff while checking how one of my favourite scam (supposedly) coins are doing. So here's a thing, there is an ATB coin, which seemed "funny" from the very first pre-Ico ANN and as predicted it went down from $2.5 ICO price to 0.007. Market cap is USD 293,575, and daily trade volume is - wait for it, wait and USD 3,735,018. BOOM!!! Right. Now it made me wonder how this coin that is listed only in Z grade exchanges pulling such volume? And the answer was pretty much straightforward - It is not (supposedly)! 98.5% of trading volume comes from Exrates.me exchange and well it is hard to describe how big BS it is go there have a look at the trades for 10 minutes+ and you will make the picture about it for your self.
Now as the good citizen of the crypto world I felt a duty to report this fake (supposedly) daily volume to Coinmarket.com as this can affect peoples decision regarding investments and such. So after sending them this via Facebook:

Hi, I want to bring to your attention possible manipulation of daily trading volume by Exrates.me exchange. Worthless altcoins like ATB have 500BTC daily trading volume with less than 0.1 BTC buy support across markets. Also if you watch their trades live you will be able to confirm my suspicions by yourself.

I got a reply from them:

Hello,

Sorry that you're having trouble with one of our listed exchanges. If you have proof that an exchange is acting dishonestly, please share it so our team can investigate it further by submitting a request to our form found at https://coinmarketcap.com/request/ and our team will respond.

Thank you.

Sincerely,
CoinMarketCap Support

Well, I do not make any money from Coinmarket.com for collecting the evidence, so I will not be making videos and sending their "Investigation team".But all this situation makes me wonder do they accepting data from every random website, that is acting as an exchange? For me, it was a big blow, and I wonder how big is the scale of such alteration (supposedly) daily volume data in Coinmarket.com? I mean seriously, is this just one example of an endless alt coins list, or the is more coins that have same "real" daily volume as the coin mentioned above?
Is this one of the kind "accident", or there are multiple coins with fake daily volume? Does Coinmarket.com is involved in such manipulations/scams and gets it's cut from dishonest exchanges for turning a blind eye? Or they just don't give a flying pork about the accuracy of their data?

[ralle14]

You're correct this is only one of the many altcoins that manipulate their numbers on coinmarketcap. You can find more by viewing all then click the 24 hour volume another example is FSBT also traded on exrates. With the amount of shady coins listed on coinmarketcap I doubt they don't charge anything to list every new coin that's launched.

Does Coinmarket.com is involved in such manipulations/scams and gets it's cut from dishonest exchanges for turning a blind eye? Or they just don't give a flying pork about the accuracy of their data?

Both. If they care about their site's reputation they could've done the right thing by delisting certain alts and exchanges.

[LeGaulois]

It's like if someone is killing a lady in the street and you say "I don't make any $ from it so I won't call the police"
Coinmarketcap cares about these types of altcoins but as you can guess they can't monitor all coins daily and without people reporting it can take a while before the coin is flagged.

[stomachgrowls]

It's like if someone is killing a lady in the street and you say "I don't make any $ from it so I won't call the police"
Coinmarketcap cares about these types of altcoins but as you can guess they can't monitor all coins daily and without people reporting it can take a while before the coin is flagged.

On all numbers of coins listed on CMC they wont really able to detect or monitor same as you said.Therefore, with this matter i dont really care at all if its listed or removed.
You can check anytime on your own discretion if you have doubts on the said altcoin and lastly relying into these preference site isnt reliable anytime.

[Slow death]

Well, I do not make any money from Coinmarket.com for collecting the evidence, so I will not be making videos and sending their "Investigation team".

they have many altcoins and many exchanges listed on their website and it seems to me that it is a very difficult task for them to inspect every exchange and every altcoin they list on their site. But once you reported this anomaly, they should not ask you for evidence, instead they should investigate on their own and take due action.

two weeks ago I saw an altcoin increase  300% and was in the Rank 77 place and only had 3 small exchanges that made trade of that altcoin. I was very surprised by this, but unfortunately cases like these are a lot and are very scattered

[bL4nkcode]

You're correct this is only one of the many altcoins that manipulate their numbers on coinmarketcap. You can find more by viewing all then click the 24 hour volume another example is FSBT also traded on exrates.

Yeah, I observed this too, I guess that was weeks ago. I have that token and never sold it yet.

But as mentioned, too many exchanges listed on coinmarketcap and it's too hard for them to check those sites one by one not unless if someone reported if there's some anomaly.

And this incident not only happens this time, but it also happened before and it will still happen in the future, primarily with the fallacious api from different exchanges that CMC or any crypto market cap website accepts and calculate to display on their site.

[oldloco]

It's like if someone is killing a lady in the street and you say "I don't make any $ from it so I won't call the police"
Coinmarketcap cares about these types of altcoins but as you can guess they can't monitor all coins daily and without people reporting it can take a while before the coin is flagged.

I shared with them my suspicions regarding possible data manipulation, gave them the name of exchange and coin.
Now, what evidence do they want me to collect? Take a screen recording and send it to them? And then what?  They will have to double check it anyway, so there is no point for me of sending them any "evidence".

[bL4nkcode]

I shared with them my suspicions regarding possible data manipulation, gave them the name of exchange and coin.
Now, what evidence do they want me to collect? Take a screen recording and send it to them? And then what?  They will have to double check it anyway, so there is no point for me of sending them any "evidence".

It's because ordinarily, from the largest market cap website they probably received lots of reports/complaints with/without proofs. And screenshots/recordings from yours at the time of inaccuracy of data will differ from the time they will check the report(s) so that's why any services with such issue will ask for some evidence from the correspondent.
If you really care for something like that happened then you have to give such statements, else...