Today everyone sympathizes with Musk, Tesla and Bitcoin are falling, Elon is becoming poor.
I think it's not that simple.At Bitcoin highs, he publicly acceptedcreative solution and invested heavily in it, accelerating the crazy price to the point of insanity. And then, seemingly by accident, with his authoritative opinion he pronounced a verdict on the cryptocurrency that it was overbought, independently provoking a rapid decline in his assets.
Is it possible that Musk did not do all this?deliberately? The only obvious conclusion is that through the transparency of his recent actions, he has created a strong alibi for himself, turning him into a victim of circumstances. Or maybe there was a fact of large-scale market manipulation?
Recently, it has become especially popular in the marketdigital assets have gained popularity as a type of fraud - the pump and dump scheme (Pump & Dump). It consists in the pump and dump organizer choosing the type of cryptocurrency, which he begins to quietly accumulate. After a certain period of time, the organizer announces a pump of a “random” coin in the communication channels available to him, thereby attracting a large audience, and then gives a signal to buy exactly the coin that he had previously accumulated. This provokes a massive purchase of Bitcoin on the exchange and a sharp rise in its rate.
When the price reaches its peak, a rapid sale begins, led, of course, by the organizer who was prepared in advance for the process.
Over the past few years, especially duringmarket growth, a huge number of crypto enthusiasts fell for similar tricks and were left in the cold. The pump and dump scheme itself has become widespread and is still actively used to deceive beginners.
According to the results of a study by specialistson cybersecurity, Jihua Xu and Benjamin Lifshitz, from Imperial College London, at least 2 large pump-and-dumps are recorded on the market per day, with a total monthly trading volume of about $7 million.
Xu and Lifshits analyzed a lotmanipulations and set out to train artificial intelligence to recognize coins that are being prepared for a pump and dump. The researchers fed historical data about already known pump-and-dump schemes into a machine learning algorithm, which allowed the machine to identify certain patterns and learn to warn about an impending scam.
The researchers hope that theThis method will help prevent the spread of fraudulent activity in the market, and will also provide people with a detailed understanding of how pump and dump schemes work, which is critical to potentially preventing fraudulent transactions.
It is obvious that currentlycryptosecurity is still far from perfect. Because an unjustified acceleration and the same uncontrolled fall can today be provoked by a careless or targeted word of just one person, for example, Elon Musk.
