SEC teaming with FBI to tackle market manipulation via Pump and Dump groups
If you're in on these groups, be careful.
Regarding Pump and Dumps and Market Manipulators
While the market does not have the necessary tools to prevent pump and dump schemes, the Senate showed its concern on this matter too. The chairman Jay Clayton was asked to present his strategy towards stopping pump and dump schemes.
Jay Clayton stated that these type of schemes are very hard to stop in the digitalized market. But the SEC has created a special task force that collaborates with the FBI in order to control it.
The pump and dump schemes are usually conducted on social platforms like Telegram and could have a great impact on the price of a currency. The investors who are not aware of such events have a lot to lose because of it.