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Crypto Dump/Pump
The pump and dump scheme is just old wine in new wineskins: it’s been around for ages. The scheme’s strength lies in its simplicity. The idea behind a pump and dump scheme is simple: A group of bad actors deliberately buys an asset, often small-cap stocks or other thinly traded securities, sings itsRead more
The pump and dump scheme is just old wine in new wineskins: it’s been around for ages. The scheme’s strength lies in its simplicity. The idea behind a pump and dump scheme is simple: A group of bad actors deliberately buys an asset, often small-cap stocks or other thinly traded securities, sings its praises to anyone who will listen — using false news or information to pump it— then sell when the increased activity drives up the stock price. This often leaves those who bought the hype holding the bag, as asset prices crumble and artificial demand dries up.
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