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Inflating prices through Pump and Dump schemes isn’t new to the stock markets; the unregulated and anonymous nature of cryptocurrencies makes it easier for scammers to manipulate stock prices.
NEM (XEM) President Lon Wong believes price manipulation is unavoidable in cryptocurrency markets saying:
“Price manipulation is not something new. You see it in mainstream markets as well. We are in a very nascent, growing phase of our industry and these things are unavoidable,”
Cyber attackers had recently stolen $530 million of NEM coins from the Japanese exchange.
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