Tracking crypto pump-and-dump operations on social media

Credit: Unsplash/CC0 Public Domain

The practice is unethical, yet not illegal per the SEC. Cryptocurrency scammers have found a way to make a quick profit through social media platforms like Twitter and Telegram, using the pump and dump method. In short: they buy coins when the price is low, team up to create the buzz and get the price of this coin to rise, then sell theirs for a profit.

Researchers at USC’s Information Sciences Institute (ISI) have conducted a study to track and shut down this phenomenon.
Mehrnoosh Mirtaheri, graduate research assistant at ISI who led this work, …

Be the first to comment

Leave a Reply

Your email address will not be published.