DEX - Ethereum-Based DEXs Riddled With Wash Trades: Report Sheds Light On $2B Manipulation | Benzinga
Crypto-native trade surveillance and risk monitoring firm Solidus Labs on Tuesday identified $2 billion worth of wash trades on Ethereum (CRYPTO: ETH)-based decentralized exchanges (DEXs) since 2020.
This alarming revelation underscores the challenges and vulnerabilities present in the rapidly growing crypto sector.
As the crypto industry grapples with such revelations, events like Benzinga's Future of Digital Assets conference on Nov. 14 become increasingly pertinent. The conference will feature crypto's top thought leaders delving into the pressing challenges and future trajectory of digital assets, and given the recent findings by Solidus Labs, discussions on market manipulation are expected to be at the forefront.
Solidus Labs conducted an analysis of around 30,000 DEX liquidity pools, and found that 67% were tainted by wash traders.
These traders, either transparently ...