South Korea-based cryptocurrency exchange Bithumb has denied allegations of faking trade volume, Forbes reported on Dec. 19.
Cryptocurrency exchange ratings and analytics service CER has accused Bithumb of faking up to 94 percent of its trade volume since late summer of 2018. In response to the accusations, Bithumb reportedly told Forbes that "Bithumb is doing nothing to inflate trade volume. Bithumb is not selling mining-based coin. Bithumb is trying to get more customers by providing various promotions just like any other company in the world as a normal business."