pump and dump

A scheme to make money in the financial markets. The promoters of a pump and dump scheme make false claims about a new product, technology or decentralized finance token via spam or social media, thus driving up the price of the security or crypto token. After the value has skyrocketed, promoters sell all their shares or tokens and try to keep a low profile. When the scheme is uncovered, everyone else's holdings drop dramatically and may even become worthless. See rug pull.

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