{"id":353515,"date":"2018-10-11T13:00:01","date_gmt":"2018-10-11T13:00:01","guid":{"rendered":"https:\/\/ktsl888.com\/?p=353515"},"modified":"2018-10-11T10:04:12","modified_gmt":"2018-10-11T10:04:12","slug":"crypto-community-riled-at-russian-exchanges-coin-pump-scheme","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ai-and-tech\/crypto-community-riled-at-russian-exchanges-coin-pump-scheme\/","title":{"rendered":"Crypto Community Riled at Russian Exchange’s Coin Pump Scheme"},"content":{"rendered":"
The crypto market has just entered into another tough period when a lot of coins started losing its value. In the midst of all the chaos, one cryptocurrency exchange announced a new pump scheme on several random coins, while hoping to get a boost itself.<\/p>\n
YoBit, a Russia-based cryptocurrency exchange that was founded in 2015, has publically announced a pump scheme on their Twitter feed.<\/p>\n
This is a part of a scheme commonly known in crypto circles as the ‘pump-and-dump’, which is considered to be a form of fraud. Basically, those who perform the scheme are attempting to boost asset prices artificially, by using false recommendations and misleading news.<\/p>\n
\nYoBit Pump in 22 hrs: https:\/\/t.co\/RIbW7OhKzM<\/a>
We will buy one random coin for 1 btc every 1-2 mins 10 times (total buy amount – 10 btc).<\/p>\n— Yobit.Net (@YobitExchange) October 10, 2018<\/a><\/p><\/blockquote>\n