"Pump and dump" schemes have been around since long before cryptocurrency was invented. What's striking about the crypto markets is that this type of manipulation is done out in the open.
On various social media channels, for example Telegram, BitcoinTalk and Reddit, groups of individuals come together and agree to buy altcoins at a certain price and to sell simultaneously at a specific time when the price peaks. They often spread false or misleading information to persuade unsuspecting investors to buy during the run-up.
But you have to give them credit for one thing: they don't couch their activities with euphemisms.
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