What are the current pump and dump schemes in the cryptocurrency market today?

3 answers

• Nov 27, 2021 · 3 years ago
  Pump and dump schemes are unfortunately still prevalent in the cryptocurrency market today. These schemes involve artificially inflating the price of a particular cryptocurrency through coordinated buying, and then selling off the coins at a profit once the price has reached a certain level. The organizers of these schemes often target low-volume and low-market cap coins, as they are easier to manipulate. It's important for investors to be cautious and do their due diligence before investing in any cryptocurrency to avoid falling victim to these schemes.
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• Nov 27, 2021 · 3 years ago
  Ah, pump and dump schemes, the bane of the cryptocurrency market. These schemes involve groups of individuals who coordinate to artificially inflate the price of a cryptocurrency, creating a frenzy of buying. Once the price reaches a certain level, they sell off their holdings, causing the price to plummet and leaving unsuspecting investors with significant losses. It's a shady practice that takes advantage of the speculative nature of the market. Stay away from coins that are experiencing sudden and unnatural price spikes, as they are often the targets of pump and dump schemes.
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• Nov 27, 2021 · 3 years ago
  While I can't speak for other exchanges, at BYDFi, we have strict policies in place to prevent pump and dump schemes from taking place on our platform. We closely monitor trading activities and have implemented measures to detect and prevent any suspicious trading patterns. Our goal is to provide a fair and transparent trading environment for all our users. However, it's important to note that pump and dump schemes can occur on other exchanges, so it's crucial for investors to exercise caution and conduct thorough research before making any investment decisions.
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