Buyer Beware: Cryptocurrency ‘Pump and Dump’ Schemes Coordinated In Telegram

Buyer Beware: Cryptocurrency ‘Pump and Dump’ Schemes Coordinated In Telegram
Telegram, an instant messaging service founded by Pavel Durov, is being used by cryptocurrency scammers to coordinate pump-and-dump schemes, as reported by Business Insider. These scammers create exclusive groups, in which they share information and organize attacks to make a profit off the losses suffered by unaware traders.

The phenomenon of pump-and-dump is not uncommon in other trading venues either, particularly stocks and equities markets. However, the strict regulations imposed on those markets make this sort of price manipulation ...
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