The presentation (linked in another comment here) lists a number of exchanges which they believe are presenting fake data: CoinBene, RightBTC, CHAOEX, IDAX, LB

The presentation (linked in another comment here) lists a number of exchanges which they believe are presenting fake data: CoinBene, RightBTC, CHAOEX, IDAX, LBANK, BitForex, Exrates I don't think I've heard of any of these, and there are zero hits in my email. They go on to identify pretty much every exchange I've ever seen discussed on HN (for example) as having legitimate volume-- coinbase, bitstamp, bitfinex, gemini, ... I think the headline should instead be "coinmarketcap volume claims are nonsense" -- which I think most people in the bitcoin space would say "well, duh". At least my view purpose of coinmarketcap and similar sites seems largely to direct people to the latest token pumps, as evidence by the absurd "market caps" they display for illiquid pre-mined tokens... What set off alarms for me is that there is no way that you get to 81 exchanges without including some really sketchy or obscure stuff. But a site that wants to list sketchy tokens needs to include the sketchy exchanges because for the most part the non-sketchy exchanges won't list them.