How to take down the cryptocurrency exchange with a small Python script
In the article on Everstrike's blog, the author discusses a case of failed wash trading that led to the obliteration of a cryptocurrency exchange. Wash trading is a practice where investors buy and sell the same assets to artificially inflate their liquidity and interest. This particular situation serves as a cautionary tale illustrating how improper actions can impact an exchange's reputation and ultimately lead to its downfall. The article also delves into the current state of the cryptocurrency market, explaining the potential consequences of market manipulations for both platforms and investors alike. Finally, the author calls for a re-evaluation of practices within the industry to restore investor trust and enhance the transparency of the crypto market.