Abstract

The cryptocurrency market has gained significant traction in the last decade, becoming an alternative finance platform to traditional stock market trading. Despite its rapid evolution, legal regulations have not yet caught up to the cryptocurrency market’s progress, attracting the attention of scammers looking to exploit legal loopholes for profits. Pump-and-dump schemes, a well-worn fraud device, has regained relevance in this new territory. In a typical pump-and-dump scheme, scammers organize and leverage media channels to artificially inflate the price of an alternative cryptocurrency, only to quickly sell them to profit off unsuspecting buyers. The disruptive nature of pump-and-dump schemes necessitates a system to reliably forecast pump targets and the magnitude of its success. In this paper, we propose an approach to predict the target cryptocurrency for each pump before its announcement using market and …

Date

November 15, 2021

Authors

Huy Nghiem, Goran Muric, Fred Morstatter, Emilio Ferrara

Journal

Expert Systems with Applications

Volume

182

Pages

115284

Publisher

Pergamon