The U.S. SEC has taken action against two firms and four individuals allegedly perpetrating a crypto pump-and-dump scheme. cryptocurrency pumpanddump
The U.S. Securities and Exchange Commission has taken action against two firms and four individuals allegedly perpetrating a crypto pump-and-dump scheme. “Although this case involves crypto assets, it bears the hallmarks of a classic pump and dump scheme,” said the SEC.The U.S. Securities and Exchange Commission said Friday that it hascharges against two firms and four individuals allegedly perpetrating a cryptocurrency pump-and-dump scheme.
The defendants allegedly perpetrated a “pump-and-dump scheme involving a crypto asset called ‘dignity’ or ‘DIG,’” the SEC detailed, adding:The securities watchdog explained that between May 2018 and January 2019, the two companies, through the four defendants, “issued announcements falsely claiming that Arbitrade had acquired and received title to $10 billion in gold bullion.”
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