Is there a science to “pump and dump” schemes? An Australian Securities and Investments Commission investigation found them to be based on market sentiment and cyclical, peaking back during 2018 and again in 2021.
The Australian Securities and Investments Commission has revealed the details of how it took down crypto “pump and dump” Telegram groups back in October.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.
According to the presentation, several factors have changed between 2018 and the time of publication, during October 2021. Over a period of six months in 2018, Putnins documented over 355 cases of crypto market manipulation. The presentation detailed the Telegram group “Crypto Binance Trading | Signals & Pumps” Sept. 19 pump of fractional algorithmic stablecoin system, Frax Share , which saw a massive 90% on $65 million volume in less than one minute.: Presentation to ASIC by Professor Talis Putnins
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