Cryptocurrency exchange YoBit is pumpit coins
Cryptocurrency exchange YoBit is going to implement a scheme of Pampa for coins, selected randomly method. Scheme of pump and dump is a form of fraud that artificially increases the price of the asset. Twitter representatives wrote:
YoBit Pump in 22 hrs: https://t.co/RIbW7OhKzM
We will buy one random coin for 1 btc every 10 mins 1-2 times (total buy amount is 10 btc).
— Yobit.Net (@YobitExchange) October 10, 2018
We buy at random one of the coins worth 1 BTC every 1-2 minutes, 10 times (the total purchase amount is 10 BTC).
In addition to announcing the pampas, the exchange has placed the information containing the countdown to the start of the pampas on his web site.
YoBit is a Russian digital currency exchange, founded in 2015, supporting the hundreds of digital currencies. Trading platform repeatedly hit the headlines in connection with suspicious activity and problems of the withdrawal of funds from their wallets. According to CoinMarketCap, today, daily trading volume YoBit is about $28 million.
The community responded quickly to the news: some of the users thought that the YoBit Twitter account was hacked, while others accuse the company of fraudulent activity. User @Altcoinbuzzio wrote (a):
“… It seems YoBit serious about this, unbelievable … I was surprised to see that the exchange will do it.”
In November 2017, the investigation conducted by Business Insider, showed that traders repeatedly implement schemes pump and dump on YoBit through the application Telegram. However, it remained unclear who provides organizers with this information.