reporting fake volumes doesn't deceit either traders nor the coin owners! fake volumes is just a technique the exchanges use to stay on top of the ranking and attempt at competing with each other.
besides, they all do that. nobody is monitoring them and their reported volumes so they can do whatever they like and there is no damage done so nobody cares.
I look most exchanges and I laugh at the kind of deceit portrayed using fake volumes. I remember trading on exchange some days ago, my set sell order was quite low but I just watch as orders higher than mine were picked what do you call that? I just wondered, which normal trader will pick a high order rather than a low one? Smh