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Cryptocurrency markets often face manipulation through prevalent pump-and-dump (P&D) schemes, where self-organized Telegram groups, some exceeding two million members, artificially inflate target cryptocurrency prices. These groups sell…

Computational Engineering, Finance, and Science · Computer Science 2025-09-30 Manuel Bolz , Kevin Brundler , Liam Kane , Panagiotis Patsias , Liam Tessendorf , Krzysztof Gogol , Taehoon Kim , Claudio Tessone

While pump-and-dump schemes have attracted the attention of cryptocurrency observers and regulators alike, this paper represents the first detailed empirical query of pump-and-dump activities in cryptocurrency markets. We present a case…

Trading and Market Microstructure · Quantitative Finance 2023-01-18 Jiahua Xu , Benjamin Livshits

With the proliferation of pump-and-dump schemes (P&Ds) in the cryptocurrency market, it becomes imperative to detect such fraudulent activities in advance to alert potentially susceptible investors. In this paper, we focus on predicting the…

Statistical Finance · Quantitative Finance 2023-04-04 Sihao Hu , Zhen Zhang , Shengliang Lu , Bingsheng He , Zhao Li

In the last years, cryptocurrencies are increasingly popular. Even people who are not experts have started to invest in these securities and nowadays cryptocurrency exchanges process transactions for over 100 billion US dollars per month.…

Computers and Society · Computer Science 2024-09-04 Massimo La Morgia , Alessandro Mei , Francesco Sassi , Julinda Stefa

Interest surrounding cryptocurrencies, digital or virtual currencies that are used as a medium for financial transactions, has grown tremendously in recent years. The anonymity surrounding these currencies makes investors particularly…

Social and Information Networks · Computer Science 2019-12-19 Mehrnoosh Mirtaheri , Sami Abu-El-Haija , Fred Morstatter , Greg Ver Steeg , Aram Galstyan

Cryptocurrencies are increasingly popular. Even people who are not experts have started to invest in these assets, and nowadays, cryptocurrency exchanges process transactions for over 100 billion US dollars per month. Despite this, many…

Computers and Society · Computer Science 2024-09-04 Massimo La Morgia , Alessandro Mei , Francesco Sassi , Julinda Stefa

Cryptocurrencies represent one of the most attractive markets for financial speculation. As a consequence, they have attracted unprecedented attention on social media. Besides genuine discussions and legitimate investment initiatives,…

Computers and Society · Computer Science 2020-08-20 Leonardo Nizzoli , Serena Tardelli , Marco Avvenuti , Stefano Cresci , Maurizio Tesconi , Emilio Ferrara

Despite the fact that cryptocurrencies themselves have experienced an astonishing rate of adoption over the last decade, cryptocurrency fraud detection is a heavily under-researched problem area. Of all fraudulent activity regarding…

Machine Learning · Computer Science 2022-05-11 Viswanath Chadalapaka , Kyle Chang , Gireesh Mahajan , Anuj Vasil

Masterminds are entities organizing, coordinating, and orchestrating cryptocurrency pump-and-dump schemes, a form of trade-based manipulation undermining market integrity and causing financial losses for unwitting investors. Previous…

Computers and Society · Computer Science 2025-03-04 Honglin Fu , Yebo Feng , Cong Wu , Jiahua Xu

The pump and dump scheme is a form of market manipulation attack in which coordinated actors drive up the price of an asset in order to sell at a higher price. Due in part to a lack of enforcement, these schemes are widespread within the…

Cryptography and Security · Computer Science 2023-09-14 Joshua Clough , Matthew Edwards

This study aims to detect pump and dump (P&D) manipulation in cryptocurrency markets, where the scarcity of such events causes severe class imbalance and hinders accurate detection. To address this issue, the Synthetic Minority Oversampling…

Artificial Intelligence · Computer Science 2025-10-02 Jieun Yu , Minjung Park , Sangmi Chai

We propose a simple yet robust unsupervised model to detect pump-and-dump events on tokens listed on the Poloniex Exchange platform. By combining threshold-based criteria with exponentially weighted moving averages (EWMA) and volatility…

Statistical Finance · Quantitative Finance 2025-03-13 Mahya Karbalaii

Increasingly growing Cryptocurrency markets have become a hive for scammers to run pump and dump schemes which is considered as an anomalous activity in exchange markets. Anomaly detection in time series is challenging since existing…

Artificial Intelligence · Computer Science 2020-03-17 Hadi Mansourifar , Lin Chen , Weidong Shi

Building on our prior threshold-based analysis of six months of Poloniex trading data, we have extended both the temporal span and granularity of our study by incorporating minute-level OHLCV records for 1021 tokens around each confirmed…

Trading and Market Microstructure · Quantitative Finance 2025-04-23 Mahya Karbalaii

Telegram is a globally popular instant messaging platform known for its strong emphasis on security, privacy, and unique social networking features. It has recently emerged as the host for various cross-domain analysis and research works,…

Social and Information Networks · Computer Science 2025-04-29 Susmita Gangopadhyay , Danilo Dessi , Dimitar Dimitrov , Stefan Dietze

The intersection of social media, low-cost trading platforms, and naive investors has created an ideal situation for information-based market manipulations, especially pump&dumps. Manipulators accumulate small-cap stocks, disseminate false…

Social and Information Networks · Computer Science 2023-01-30 D. Nam , D. B. Skillicorn

The rapid spread of information over social media influences quantitative trading and investments. The growing popularity of speculative trading of highly volatile assets such as cryptocurrencies and meme stocks presents a fresh challenge…

Computation and Language · Computer Science 2022-06-14 Ramit Sawhney , Shivam Agarwal , Vivek Mittal , Paolo Rosso , Vikram Nanda , Sudheer Chava

Although Telegram is currently one of the most popular instant messaging apps in the world, previous studies have mainly focused on analysing discussions on specific angles and topics. In this paper, we present a broad analysis of publicly…

Social and Information Networks · Computer Science 2025-03-18 Alessandro Perlo , Giordano Paoletti , Nikhil Jha , Luca Vassio , Jussara Almeida , Marco Mellia

This paper presents a multidisciplinary approach to analyzing data from Telegram for early warning information regarding cyber threats. With the proliferation of hacktivist groups utilizing Telegram to disseminate information regarding…

Cryptography and Security · Computer Science 2024-12-31 Velizar Varbanov , Kalin Kopanov , Tatiana Atanasova

[WhitePaper] The TelegramScrap tool provides a robust and versatile solution for extracting and analyzing data from Telegram channels and groups, addressing the increasing demand for efficient methods to study digital ecosystems. This white…

Computers and Society · Computer Science 2024-12-24 Ergon Cugler de Moraes Silva
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