What is a Crypto Pump and Dump?

A "pump and dump" is a type of scheme in which a group of people attempts to artificially inflate the price of a cryptocurrency through coordinated buying and market manipulation to sell their cryptocurrency holdings at a higher price. It is a form of market manipulation and is illegal in most jurisdictions. Here's an example of how a pump and dump might work: A group of people (the "pumpers") coordinate to buy a large amount of a particular cryptocurrency, often…