💰 [Analysis] The Economics of Cryptocurrency Pump and Dump Schemes - Hamrick et al.
The latest digital asset bull market was accompanied with an over abundance of fraudulent financial practices including the age-old pervasive tactic of pump and dump schemes. Telegram and Discord channels facilitated hundreds of these schemes, according to research from Hamrick et al., who identified 3,767 different pump signals advertised on Telegram and another 1,051 on Discord within a six-month period in 2018. The factors that affect the success of the pump are also examined.
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