The History of Pump and Dump Schemes

From Boiler Rooms to Digital Currencies

Patrick Karsh

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Pump and dump schemes, one of the oldest forms of market manipulation, have plagued financial markets for as long as they have existed. These schemes involve inflating the price of an asset through false or misleading statements (the “pump”) before selling off the overvalued shares at a profit (the “dump”), leaving unsuspecting investors to face significant losses as the price collapses. This deceptive practice has evolved over the years, adapting to new technologies and markets, including the…

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Patrick Karsh

NYC-based Ruby on Rails and Javascript Engineer leveraging AI to explore Engineering. https://linktr.ee/patrickkarsh