Uncovering Wash Trading and Market Manipulation on Huobi

Summary # Recent data reveals a surge in manipulative practices and liquidity issues within Huobi’s trading volume since June 2023. Trade Size Analysis: Increased activity from volume-generating trading algorithms was detected, preceding public concerns about exchange solvency. Token Manipulation: Huobi’s founder and exchange-linked tokens (HT, TRX) were subject to manipulation, resulting in inflated trade volumes and token prices via transaction size adjustments. Wash Trading Criteria: Synchronized fluctuations in volume distribution skewness and fitting estimates have been observed across multiple spot markets (COMP, SOL, LINK, SUI, DOGE). ...