
UAE Crypto Market Maker Admits to Millions in Wash Trading Scheme
Analysis of the UAE-Based Crypto Market Maker’s Wash Trading Scheme The recent admission by CLS Global, a UAE-based self-styled crypto market maker, to orchestrating an elaborate wash trading scheme has significant implications for the cryptocurrency market. This scheme, which involved generating millions in fake trading volume through automated self-dealing on Uniswap, fooled U.S. investors and…