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568 B
Pump and Dump Scheme
A type of market manipulation based on asymmetric-information in which buying of an asset is coordinated by a set of insiders to temporarily artificially inflate the price and bring in more buyers which are used as exit liquidity for the insiders to "dump" their positions.
Pump and dump schemes are illegal in most regulated markets such as public stock markets, but are rampant in crypto markets.
Pump and dump schemes result in a net wealth transfer from the market at large to an economic cartel.