On the night of November 5, the price of an unknown ParallelCoin coin jumped thousands of times in a matter of hours - from $ 1.60 to more than $ 2200.
Users have already been warned about the dangers of Pump & Dump schemes and urged not to buy an asset.
The price of the token also quickly returned to the level of $ 2.
On the role of Pump & Dump schemes in manipulating the cryptocurrency market, read the link:
Overblown volumes, listing fees, and manipulation: how little-known bitcoin exchanges end up in CoinMarketCap top