FinTwit exploited in alleged $100 million pump-and-dump scheme

In the last decade, some of the world’s smartest journalists, fund managers, analysts, bankers, regulators and academics have congregated on Twitter to swap insights about financial markets.

But where there’s cash, there are also grifters and greedy marks. The two groups appear to have converged on Twitter and Discord channels in a scheme ultimately worth roughly $100 million, alleges the SEC. Here’s the SEC’s full complaint.



Categorized as Scams