Canadian cryptocurrency exchange Coinsquare became a focus of fraud scandal.
Motherboard reports citing leaked intracorporate messages that Coinsquare CEO Cole Diamond demanded from its employees to manage fake trades in order increase the exchange's performance.
According to Slack messages dated March 2019, Diamond demanded to "turn back on" the code that managed automatic wash trades after an employee switched it off.
The leaked documents also show Coinsquare performed wash trading during 2018 and 2019.
Manager of public affairs at the Ontario Securities Commission Kristen Rose declined to comment the case.
In 2018, Coinsquare announced its first international expansion.
The crypto exchange, founded in 2014 and claiming to be “Canada’s most secure digital currency trading platform,” was planning to open its services to the European market.
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