A warning to Kiwi investors about the dangers of misleading cryptocurrency offers
A warning to Kiwi investors about the dangers of misleading cryptocurrency offers
14 August 2022
Trustees Executors Chief Executive Ryan Bessemer says there's been an increase in "pump-and-dump" schemes.
Consumers are enticed to buy digital tokens at artificially inflated prices, often pushed by celebrities and influencers.
He says the people who own most of the tokens then quickly sell out, causing the price to immediately fall ? draining assets overnight.
He says the unsuspecting consumers can lose significant chunks of their investment.
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