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This week on The Market Report, the resident experts at Cryptox discuss dozens of pump-and-dump tokens purporting to be related to ChatGPT and Bing AI chat.We will be doing things a little differently this week since our handsome and charming host, Joe Hall, will be somewhere over the Atlantic during the
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The U.S. Securities and Exchange Commission (SEC) has taken action against two firms and four individuals allegedly perpetrating a crypto pump-and-dump scheme. “Although this case involves crypto assets, it bears the hallmarks of a classic pump and dump scheme,” said the SEC. SEC Charges 2 Firms in Crypto Pump-and-Dump Case The U.S.
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The complaint alleges the two companies pumped the price of their cryptocurrency by falsely claiming they had acquired $10 billion in gold bullion to back it. Source
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Crypto influencer Lark Davis has refuted new allegations from Twitter “on-chain sleuth” ZachXBT of shilling “low cap projects” to his audience “just to dump them shortly after.”Davis was responding to a Twitter thread posted by Zach on Sept. 29, containing allegations that he profited over $1.2 million through selling tokens
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Educating oneself about the crypto ecosystem is crucial for investors to pursue during a bear market while awaiting a bull cycle. That being said, having a good understanding of crypto investment entails keeping an eye out for fraudulent projects that threaten to drain assets overnight, a.k.a. pump-and-dump schemes.Pump-and-dump in crypto
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