Pump-and-dump schemes

Shytoshi Kusama, the pseudonymous lead of the Shiba Inu (CRYPTO: SHIB) ecosystem, on Thursday, distanced themselves from the controversial meme coin launched by influencer Haliey Welch of the “Hawk Tuah” fame. What Happened: Kusama came to X to clear the air over...

The Securities and Exchange Commission (SEC) has charged Minerco Inc. (OTC:MINE) and two individuals with orchestrating a multimillion-dollar pump-and-dump scheme. According to the SEC’s complaint, investors were defrauded of approximately $8 million through the false promotion of Minerco as...

Approximately one-quarter, or 24%, of cryptocurrency tokens launched in 2022 showed indications of being involved in pump-and-dump fraud, according to Chainalysis. This type of fraud, which is prevalent in traditional finance, is executed when scammers promote stocks they own to other investors,...