The 2023 Crypto Market Manipulation Report Series

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The 2023 Crypto Market Manipulation Report Series

Solidus Labs Research
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What is wash trading, and why does it happen in crypto?

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Exploring the frontier of crypto market abuse

Market manipulation is one of the crypto industry's biggest unresolved investor protection problems. With relative impunity, bad actors in the digital asset space continue to engage in abusive behaviors like:

  • Using decentralized exchanges to trade on material, nonpublic information;
  • Wash trading cryptocurrencies to manufacture artificial prices and volumes;
  • And systematically touting or bashing tokens on social media while executing trades in the opposite direction.

They've also begun to pursue a number of attack vectors unique to DeFi – manipulations we refer to as wash ramping, honeypots, and pump-and-borrow exploits.

Reserve your copy now to join us on this data-driven exploration of the frontier of crypto market manipulation.

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Trusted by compliance teams and regulators globally

Built for Data Complexity

Normalizes non-standard feeds and on/off-ramp data into one real-time schema, while crypto-native models cut through volatility to flag wash trades, spoofing, and insider flow, even amid extreme price swings or cross-venue price gaps.

Future-Proofed for Evolving Crypto-Specific Schemes

Monitors manipulation across both on- and offchain, from insider trading on DEXs, cross-venue schemes spanning spot/derivatives or CeFi/DeFi to native onchain threats throughout the asset life cycle.

Real-Time Intervention Before Risk Escalates

Real-time alerting surfaces risk instantly, enabling timely intervention in a global, 24/7 “always-on” market and instant settlement that legacy batch processing can’t offer

See Risk Across Trades, Transactions & KYC

Unifies trades, transactions, KYC, and behavioral signals in one view—uncovering risks siloed systems miss like account takeovers, new-account scams, and transactions that appear legitimate in isolation but raise suspicion when analyzed against broader trading behavior.

Crowd-Driven Crypto Sentiment Intelligence

Machine-learning sentiment analysis distills signals from messy, unstructured data across Reddit, X, Telegram, and news sources – flagging symbol-level sentiment shifts in real time.

Venue-Agnostic Data Architecture

Venue-agnostic approach to market data delivers high speed and scalability across all digital and traditional asset classes, with fallback mechanisms for uninterrupted surveillance even without full order-book depth.
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