Pump and dump: the stock market is significantly exposed to the schemes of manipulation
Source:
According to a recent study, the scammers successfully manipulate the price of digital assets, including Bitcoin. This allows them much more expensive to sell their assets to unsuspecting traders. The researchers found almost five thousand so-called attempts of pumping and dump various cryptocurrency from January to July. For this, the data were analyzed, collected from the popular community encrypted messenger Telegram and Discord. According to analysts, such a scale of fraud, which in most cases allows one to obtain a considerable profit, should be alarming to regulators.
How to write scientists from the University of Tulsa, University of new Mexico and tel Aviv University, the spread of cryptocurrencies and changes in technology have simplified the necessary conditions for the pump and dump.
Although the basics of the scheme since the last century has not changed, the recent rapid spread of nearly 2 thousand cryptocurrency inside a virtually unregulated environment has greatly expanded the potential for abuse tactics. A group of traders attempting to manipulate cryptgenkey, do not even hide their purpose.
Source: ccinews.net
The study also noted the need to enter more strict regulation for cryptosphere. The Commission on securities and exchange Commission recently drew attention to the market manipulation. The representatives stated that this issue must be resolved before the authority can ETF for Bitcoin. According to supporters of the cryptocurrency, the event will lead to widespread adoption of digital currencies. In may, the U.S. justice Department also conducted an investigation into the question of whether traders manipulated the price of Bitcoin and other cryptocurrencies. This triggered a tightening of control over cryptoprotection.
According to Bloomberg, according to information from research, PAMP coins with low turnover is much more profitable flow dominant in the ecosystem of cryptocurrencies. However, Bitcoin has also awarded approximately 82 individual attempts to manipulate the price. More data to search for .
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