- The pump and delight patterns dominate the cryptographic markets, driven by 438 masterminds manipulators
- The ease of communication of the telegram fuels the rise in cryptography manipulations
- Advanced tools like Perseus expose crypto crooks, but the regulations remain essential
While cybersecurity is faced with challenges with joint internet scams such as phishing, advanced costs and false lottery, pump and cryptocurrency dump diets have become a significant problem.
A recent study by researchers from the University College London revealed that 438 brains are responsible for the majority of pump and waste cryptography programs worldwide.
These brains manipulate crypto parts by inflating prices thanks to a deceptive media threw, selling them once enough buyers are attracted, collectively representing 3.2 billions of dollars in artificial negotiation and winning 250 million dollars per year. According to Google, these “Camoufres” scams are the most damaging scams.
Telegram is the favorite platform for handling
Researchers have found that the Popular Cryptée Telegram messaging application is the main tool used by cryptographic coins brains to disseminate false information, with manipulators using channels and cats to create an artificial request for parts.
“On the application, cats are used to communicate between buyers and potential sellers,” note the researchers.
With easy communication and limited regulations, manipulators convince others to buy media threshing, leaving many victims ignoring the risks and devastated by the programs.
As the research team pointed out, the simplicity of the execution of these scams “should be worrying for those who try to earn money on the investment of Crypto Coin”.
To follow these patterns, the researchers developed Perseus, a tool capable of analyzing coordination efforts behind these manipulations.
Similar to the detectors of scams fueled by AI as that developed by McAfee, which stops the crooks before being able to reach potential victims, perseus helps to identify the brains behind the scams and measure their impact.
Perseus consists of three components: an obstacle in real time, a generator of graphics attributed temporal and a brain detector. These technologies work together to discover and follow the key figures orchestrating these scams.
Researchers suggest that tools like Perseus, as well as other scam detection technologies, could be crucial to recognize harmful schemes in largely unregulated cryptographic space.
“At a given time, a certain form of regulation will be necessary to maintain the system on the move,” they concluded.
As cryptocurrencies gain popularity, the prevalence of scams raises concerns concerning market stability, the lack of regulations leaving investors vulnerable to manipulations.
Via techxplore
