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Crypto Know-How: Beware Pump and Dump Scams

If you’ve been in the investment world for a while, you’ll know that pump and dumps are illegal. In cryptocurrency, being an unregulated industry, it’s a free-for-all, and pump and dumps are becoming a familiar sight.

In this article, written for the average investor who isn’t a savvy or particularly skilled day trader, we look at the crypto pump and dump phenomenon, and whether it’s something to get involved in.

What is a Pump and Dump?

The textbook definition of a pump and dump, according to Investopedia, is:

The illegal act of an investor or group of investors promoting a stock they hold and selling once the stock price has risen following the surge in interest as a result of the endorsement.

Namely, let me buy up some stock (in our case, altcoins), market the heck…

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