Published on September 12th, 2015 | by bitcoin0
South Korea Gets Tough On Altcoin Pump & Dump
The Ecosystem of Altcoin Pump-and-dump Schemes
Bitcoin and other virtual currencies are a “Wild West” for fraudsters, imposters and people looking to steal your money.
There is quite a lot of pumping-and-dumping going on in the virtual currency altcoin scene, as it has been for many years now.
South Korea Cracks Down on Pump-and-Dump Schemes
To this very day, there is very little action to be taken by affected traders.
In South Korea, however, running an altcoin pump-and-dump scheme might not be as lucrative for much longer.
According to Chosun, the Bank of Korea will work closely together with law enforcement agencies to investigate and pinpoint pump-and-dump schemes involving virtual currencies.