Crypto Pump and Dump Schemes: What to Do When They Happen

Like the Wild West of securities, cryptocurrency trading is constantly growing and changing. The cryptocurrency market is essentially a new, rapidly expanding frontier. With far-flung interest, cult-like followings and celebrity endorsements, these assets are dominating investment conversations. 

Bitcoin, the largest and most prominent cryptocurrency, consistently has over 150,000 daily Twitter mentions and has been featured on Fox, Bloomberg, Forbes and The Wall Street Journal. There are now at least 100,000 crypto millionaires among us. 

But just like the Wild West was, the world of crypto is a lawless place full of uncertainty and greed. Many would-be millionaires are taking advantage of insufficient regulation to employ tactics that are illegal in other markets. One such scheme currently flying under the regulation radar is the pump and dump.