Ontario Securities Commission (OSC) released a report on July 16, 2020, accusing Coinsquare of giving false trade volumes. The statement revealed that the platform was reporting inflated volumes to manipulate and deceive clients. According to the OSC report, The CEO and Founder of the platform orchestrated the acts. The regulator stated that 90% of the platform's trade volume between July 2018 and December 2019 was fake.
Several Coinsquare clients expressed their displeasure with Coinsquare concerning the trading activity at that moment. In its response, Coinsquare denied the claim and failed to disclose the inflated volume. They suggested the activity could be due to large orders, and Coinsquare will find a solution to the issue.
