Australian authorities target crypto telegram groups to weed out ‘pump and dump’ schemes (15 Oct 2021)
Article from cryptoslate.com. Australia’s financial regulator is targeting social media groups used to pump and dump crypto assets. Telegram groups that are used to pump and dump all financial products, including any crypto assets, would henceforth face the wrath of the Australian Securities and Investments Commission (ASIC), according to a report from an Australian media outlet. ASIC targets “pump and dump” groups Per the report, earlier in the week, a telegram account named ASIC sent a message to a group “ASX Pump Organization” to warn them that the financial regulator is monitoring their activities. While members of the group thought this could be fake, the regulator has now gone a step further to confirm the story to the media house. Coordinated pumping of shares for profits can be illegal. We can see all trades and have access to trader identities. […] You run the risk of a criminal record, including fines of more than $1 million and prison time. With the severity...