market manipulation – Asia Times

Made illegal in the 1930s, pump and dump schemes were prevalent again in the 1990s and were a core theme in the film Wolf of Wall Street, based on the corrupted trading life of New York broker Jordan Belfort. Photo: AFP/Bryan R. Smith

The crypto wolves and their multi-million ‘pump and dumps’

by Richard Cook August 8, 2018February 18, 2020

A six-month investigation by the Wall Street Journal, that examined crypto exchange data and online communications between traders, claims to have found 175 “pump-and-dump” schemes for 121 different crypto-tokens. In total, say WSJ writers Paul Vigna and Shane Shifflett, this generated $825 million worth of trade and caused “hundreds of millions in losses for those […]