The U.S. Commodity Futures Trading Commission: beware of pump-and-dump schemes

One of the American agencies responsible for keeping the market operations in compliance with state regulations has issued an educational material designed to explain the process of pump-and-dump scheme and why is it critical not to get involved with them.

The pump-and-dump schemes were born long before the cryptocurrency market, the CFTC explains, and tells that now the shady market manipulators use social media sites and messengers to reach their goals. The whole fraud which leaves investors with empty hands could be conducted in 8 minutes, the authors of the paper note. This means that participating in such schemes is non-beneficial, not to mention the fact that the market manipulation is itself illegal. No matter how attractive the revenue promises may be, they are usually made for deception. Other tactics is fake news, so it would make sense to use more than one source when making any investment decision.

The Commodity Futures and Trading Commission in the United States is by far one of the most well-educated about cryptocurrency, as witnessed in the older reports on Bitnewstoday. For example, they quickly assured the market skeptics that nobody will tamper Bitcoin futures and its leader Christopher Giancarlo has recently attracted the attention of the community because of his optimistic and correct remarks on cryptocurrencies to the U.S. Congress.