> They can't add fake liquidity because then the individual who attempts to lift the ghost order will realize. ...Unless there's magically someone filling it j

> They can't add fake liquidity because then the individual who attempts to lift the ghost order will realize. ...Unless there's magically someone filling it just before they do (i.e. frontrun by an internal bot) every time they try. I have observed exchanges doing this. I don't believe that Coinbase is one of them, though, as others have pointed out with their positioning they are better of not to.