According to the source, Monad was hit with spoofed token transfers days after its mainnet launch, signaling attempts to generate misleading on-chain transfer events that can confuse wallets and explorers; source: public social media post dated 2025-11-26. Spoofed transfers are a known scam pattern that can inflate perceived activity and increase execution risk for traders until contracts and addresses are verified, so monitor for abnormal inflows, wider spreads, and fake volumes on new deployments; source: Etherscan Knowledge Base guidance on zero-value transfer spam and industry security advisories.

According to @KookCapitalLLC, DeFiLlama has delisted Aster perpetuals after determining the reported trading volume is fake, source: @KookCapitalLLC on X, Oct 5, 2025. For traders, alleged fake volume is a red flag for market integrity and liquidity quality; verify executable liquidity directly on the venue by checking order book depth and open interest before sizing positions, source: IOSCO 2023 Policy Recommendations for Crypto and Digital Asset Markets. Wash trading inflates reported volume and can mislead volume-based strategies, so employ tighter slippage controls and cross-check data across multiple independent providers when trading affected markets, source: IOSCO 2023 Policy Recommendations for Crypto and Digital Asset Markets.

According to trevor.btc (@TO), Solana memecoins provide a much better user experience for wash trading and generating fake volume compared to Runes, primarily because Solana's network offers fast transaction speeds and nearly zero gas fees. This results in inflated trading volumes on Solana-based memecoins, making it harder for traders to assess real liquidity and market depth. In contrast, Runes are considered better in most other aspects, but their higher transaction costs make wash trading less attractive. Traders should be cautious when analyzing Solana memecoin volumes, as fake activity may distort price trends and liquidity signals (Source: trevor.btc on Twitter, June 2, 2025).

According to @ThinkingUSD, DeFi protocols are exhibiting significant fake volume numbers as they attempt to compete, raising concerns about wash trading in the industry.