‘Market manipulation 101’: Wolf of Wall Street-style ‘pump and dump’ scams plague cryptocurrency markets
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
You may be interested
Actor Billy Baldwin Accuses Donald Trump Of Hitting On His Wife – HuffPostdoyelteam - Nov 24, 2017
HuffPostHe called the president a “5th degree black belt when it comes to sexual impropriety allegations.” By Mary Papenfuss. Kevin…
Macy’s Thanksgiving Day Parade balloon pops, but show marches on – CBS Newsdoyelteam - Nov 24, 2017
CBS NewsLast Updated Nov 23, 2017 8:41 PM EST. NEW YORK -- The Macy's Thanksgiving Day Parade marched, rolled and…