South Korean Law Enforcement to Launch Investigations on Altcoin Pump-and-Dump Schemes

South Korean Law Enforcement to Launch Investigations on Altcoin Pump-and-Dump Schemes

Chosun, the largest and most popular online news publisher in South Korea has reported that law enforcement is about to begin investigations on altcoin pump-and-dump and bitcoin Ponzi schemes. The Bank of Korea will support local law enforcement and agencies with the investigation and will provide the necessary infrastructure and technology to search for....


Related News

South Korean Authorities Crack Down on Bitcoin Scams

With the myriad of altcoins being introduced these days, some investors have had trouble telling which ones are legitimate and which ones are bitcoin scams. In South Korea, law enforcement officials have begun investigations on alleged pump-and-dump schemes wherein demand and volumes are artificially boosted before the altcoin is out of existence. In addition, the Bank of Korea extended its support to local authorities that are investing bitcoin scams and related Ponzi schemes. There are approximately 700 altcoins in existence according to coinmarketcap.com but less than half of these have....

Is Bitcoin a Giant Pump and Dump?

After an evening of perusing the internets a post on reddit stuck out to me. “Bitcoin is being manipulated like other alt-coins” . The writer, mitchr4, goes on to explain that he is or has been an alt-coin trader for a while and has seen certain pump-and-dump patters emerge in the alt-coin industry. mitchr4 goes on draw parallels between the recent price spikes and downturns in the bitcoin market and the pump-and-dump nature of altcoins. mitchr4 goes on to explain how the pump and dump scheme works in bitcoin….

Report: Two South Koreans Paid in Bitcoin to Spy for North Korea

South Korean law enforcement recently announced the arrest of a serving military captain and an operator of a cryptocurrency exchange on charges of spying for a North Korean hacker. In return for the acts of espionage, the two South Korean individuals were allegedly paid bitcoins worth a total of $637,789. South Korea’s Joint Command and Control Targeted Two South Korean citizens, a businessman running a crypto asset management firm and a serving captain of the country’s army, were arrested on suspicion of passing military secrets to a North Korean hacker. In....

ASIC reveals how it infiltrated crypto ‘pump and dump’ Telegram groups

The Australian financial watchdog has revealed the details of how it took down ASX traders suspected of taking part in a coordinated Telegram pump and dump scheme. The Australian Securities and Investments Commission (ASIC) has revealed the details of how it took down crypto “pump and dump” Telegram groups back in October. A pump and dump scheme typically involves using social media to coordinate users to buy large amounts of a thinly traded token to artificially inflate its price. They then cash out with massive gains after other investors, who aren’t in on the scheme, FOMO in on a....

Bitcoin Bulls And Bears Alike Beware Of Potential Pump And Dump Fractal

Bitcoin price has been stuck trading within a small symmetrical triangle. These continuation patterns tend to suggest another equal sized move down is coming. However, a sweep of lows would “perfect” a buy setup that could initiate a pump and dump fractal from years ago. The pump and dump would be designed to further confuse […]