Saturday, October 1

ASIC Reveals How It Infiltrated Telegram’s “Pump And Dump” Cryptocurrency Pools By CoinTelegraph

© Reuters. ASIC reveals how it infiltrated Telegram’s “pump and dump” cryptocurrency pools

The Australian Securities and Investments Commission (ASIC) has revealed the details of how Telegram’s “pump and dump” cryptocurrency pools were dismantled in October.

A “pump and dump” scheme typically involves the use of social media to coordinate users to buy large amounts of a poorly traded token to artificially inflate its price. They then make massive profits after other investors, who are not related to the scheme, buy the coin by FOMO.

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The new documents reveal that the ASIC has been receiving advice from finance academic and cryptocurrency researcher Talis Putnins since early October.

Read the full article on Cointelegraph

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Reference-es.investing.com

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