Fake streams are still a problem and not slowing down
According to internal data from SoundCloud, it appears that fake streams aren't slowing down and is a becoming a HUGE problem. Fake streams are said to seemingly benefit major-label artists and some developing artists.
Billboard reports: "SoundCloud has detected evidence of fraudulent streams or manipulation on multiple releases from both notable independent acts and major-label artists, including hitmakers with track records of successful singles, according to two sources familiar with the company’s operations who spoke on the condition of anonymity."
But it's worth noting that this is not a unique situation at SoundCloud and that this is an industry-wide issue.
If you're wondering, fraudulently boosting an artist's streaming numbers can be done by using bot networks. Another way is utilizing fake or stolen user accounts. This has been confirmed by streaming executives and is said to be becoming more and more of a problem.