‘Market manipulation 101’: Wolf of Wall Street-style ‘pump and dump’ scams plague cryptocurrency markets

November 14, 2017
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Traders “pump and dump” small cryptocurrencies to artificially inflate the price in the hope of making a quick profit at the expense of other investors.
Business Insider observed five apparent “pump and dumps” of coins in just a week, coordinated using messaging app Telegram. See how they work here.
The activity would be illegal in most markets but regulators have yet to get to grips with cryptocurrency sector, which has exploded in size to $200 billion in 2017.
Those who monitor the secondary market say “this sort of activity is rife” and “a real problem.”

LONDON — Cryptocurrency exchanges are rife with “pump …read more

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