DefiLlama Accuses Aster of Wash Trading, Crypto Shaken
The crypto community is in an uproar after leading data aggregator DefiLlama suddenly suspended trading data for the DEX platform Aster, accusing it of wash trading — creating fake trading volume to inflate its market metrics. Following the announcement, the ASTER token dropped over 10%, sparking heated debate and deep division within the DeFi community over the project’s transparency.
DefiLlama Halts Aster Data Over Wash Trading Suspicion
On the evening of October 5, 2025, DefiLlama founder 0xngmi announced on social media that his website would temporarily stop displaying Aster’s derivative trading volume. According to his statement, DefiLlama’s team discovered that Aster’s trading patterns were unusually correlated with Binance, with correlation coefficients repeatedly exceeding 1 — a red flag often associated with artificial trading behavior designed to manipulate volume data.
0xngmi explained that the decision was made to preserve the accuracy and credibility of DefiLlama’s public datasets, as well as to avoid misleading third parties using its API. He emphasized that the move was entirely voluntary and not driven by competition, further clarifying that he holds no positions in either ASTER or HYPE tokens, two projects currently compared within the DeFi derivatives sector.
Crypto Community Divided Over DefiLlama’s Decision
After the announcement, the crypto community quickly split into two opposing camps. Some believe that DefiLlama may be under external influence or competitive pressure, noting that Aster has grown rapidly in the derivatives space despite its recent launch. Others argue that 0xngmi’s data and reasoning appear valid, pointing out that Aster’s trading volume has been ten times higher than competitors, while its open interest — a measure of active positions — remains significantly lower.
As the controversy deepened, several large investors announced plans to withdraw liquidity from Aster, while supporters of the project countered that the accusations were simply an attempt to suppress a fast-rising DeFi competitor.
Aster Responds: Ends Airdrop Phase 2, Offers Transaction Fee Refunds
Amid growing public scrutiny, the Aster team issued an official response on the morning of October 6, 2025, announcing the completion of Phase 2 of its trading airdrop program. The project also introduced two options for users — either claim ASTER tokens as originally planned or receive a full refund of transaction fees incurred during Phase 2. According to the team, Phase 2 airdrop tokens will be distributed on October 14, 2025.
This move is seen as an attempt to calm the community and rebuild trust, demonstrating Aster’s flexibility in protecting user interests amid heightened scrutiny following DefiLlama’s allegations.
ASTER Price Drops Sharply After Data Suspension
Data from CoinGecko recorded at 9:30 AM on October 6, 2025, shows that the ASTER token fell more than 10% within 24 hours of DefiLlama’s decision to remove the platform’s data. The price drop is widely viewed as a direct market reaction to the incident. Although the Aster team continues to deny any involvement in wash trading, investor sentiment has turned cautious, reflecting growing skepticism toward the project.
Conclusion: A Lesson on Transparency in DeFi
The dispute between Aster and DefiLlama has become one of the most talked-about crypto stories of October 2025. While the truth remains to be verified, the case underscores the critical importance of transparency and data integrity in decentralized finance.
In an increasingly competitive landscape, user trust remains the most valuable asset for any DeFi project. As the Aster case illustrates, a lack of transparency — or even the perception of it — can cause a token’s value to crumble overnight.
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