RATE Group | AI Analyzes Crypto Pump and Dump Schemes, $7 Million Every Day
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AI Analyzes Crypto Pump and Dump Schemes, $7 Million Every Day

06 Dec AI Analyzes Crypto Pump and Dump Schemes, $7 Million Every Day

Posted at 00:01h in Cryptocurrency News by

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crypto pump and dump

According to the Massachusetts Institute of Technology (MIT) Technology Review, two researchers at the prestigious Imperial College London have utilized artificial intelligence (AI) and machine learning to analyze hundreds of crypto pump-and-dump schemes to figure out a way to spot them before they occur.

Since the 2017 bull market of cryptocurrencies, pump-and-dump schemes in the digital asset exchange market have become a major issue for both investors and regulators.

Even on major trading platforms, the market has seen assets pump within a period of hours and dump within seconds after the build-up, mostly organized by private Telegram groups, leading retail investors to lose out massively.

$7 Million Per Day

In their study, Jiahua Xu and Benjamin Livshits at Imperial College London revealed that on average, at least two pump-and-dump schemes are materialized in the crypto market on a daily basis, producing $7 million in daily trading volume.

The researchers said that…

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