As Bitcoin hits $40K, India’s Crypto exchanges clamp down on illicit trades
Image Credit: shortpedia
Amid the Bitcoin price rally, Indian crypto exchanges have stepped up their efforts to clamp down on suspicious activities and fraudulent practices, such as the ‘pump and dump’ manoeuvre typically used by investors in small-cap, low trading volume cryptocurrency assets. In ‘pump and dump’ schemes, a small group of crypto traders coordinate to drive up the price for a small-cap cryptocurrency.