ASIC reveals how it infiltrated crypto ‘pump and dump’ Telegram groups By Cointelegraph
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The Australian Securities and Investments Commission (ASIC) has revealed the details of how it took down crypto “pump and dump” Telegram groups back in October.
A pump-and-dump scheme typically involves using social media to coordinate users to buy large amounts of a thinly traded token to inflate its price artificially. They then cash out with massive gains after other investors, who aren’t in on the scheme, succumb to FOMO and buy in on a momentum trade.
What’s behind pump-and-dump schemes?
Continue Reading on Coin Telegraph
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
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The Australian Securities and Investments Commission (ASIC) has revealed the details of how it took down crypto “pump and dump” Telegram groups back in October.
A pump-and-dump scheme typically involves using social media to coordinate users to buy large amounts of a thinly traded token to inflate its price artificially. They then cash out with massive gains after other investors, who aren’t in on the scheme, succumb to FOMO and buy in on a momentum trade.
What’s behind pump-and-dump schemes?
Continue Reading on Coin Telegraph
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.