Wash trading

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Conduct risk - financial markets.

Wash trades are a form of market abuse involving fictitious transactions used to give a false impression of price or market activity.

Typical wash trade
"A typical wash trade involves a purchase and sale of securities that match in price, size and time of execution, and which involves no change in beneficial ownership or transfer of risk."
The Treasurer magazine, September/October 2017, p36-37 - Gerry Harvey, chief executive of the FICC Markets Standards Board (FMSB).

Wash trading and cryptocurrencies
"In recent years, wash trading has infiltrated the cryptocurrency space as well. The desire to give the impression of popularity and high trading volumes is clear: there are thousands of cryptocurrency tokens available throughout the world, and most have a difficult time distinguishing themselves. But even the most popular cryptocurrencies, including Bitcoin, experience wash trading.
Cryptocurrencies are particularly vulnerable to pump-and-dump schemes, in which a combination of inflated trading volumes and strong publicity or recommendations from insiders artificially boosts a token's value, allowing certain holders to sell at a massive profit while interest is high."
Investopedia - December 2022.

See also