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Coinmarketcap Under Attack for Failing to Delete Fake Crypto Exchanges

Feb 03, 2019 at 16:22 // News

Once again, Coinmarketcap (CMC) is in the hot seat, according to The Merkle. An irate Reddit user damned the website claiming that it was helping pump exchanges which displayed phoney volumes, which primarily had no significance being on the website.

 

Bitbaby11111 attached a screenshot and noted that exchanges like Fatbtc, Hotbit, IDEX, and Bittrex don’t merit a place on CMC. Other Redditors revealed that expecting Coinmarketcap to be honest about their operations was like expecting less.   

Yellow-Carded CMC   

When ridiculed about their attempt to shame Coinmarketcap, Bitbaby11111 responded:   

“I think you are making too much of the shame comment. A bit of public awareness can often push a private enterprise to react. It’s not a moral crusade kid…”.   

Another user agreed with Bitbaby1111 and said that exchanges pay CMC a lot of money in order to keep them listed on the website with their wash trading. The user thinks that CMC faces too much traffic since it is listed as the 400th most popular website across the globe, so some posts from users don’t matter.   

Previously, CMC was allegedly reported manipulating cryptos and trading volumes. At that moment, it was alleged that Coinmarketcap doesn’t list the cryptos immediately. Many crypto developers said that an undue and excessive time would elapse between them writing and filling in an application form in order to list their cryptos and the token would eventually appear visible on the website.   

Time will Tell   

This acted as evidence that workers operating the website possess first-hand and original information on which crypto lists on the front page, and because of that are manipulating public sentiment.   

For example, although the crypto is completely lacking beneficial use in terms...

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