No slump for pump and dump cryptocurrency gangs

Scammers continue to find fertile ground on the Telegram app and Twitter, positioning themselves as benevolent heroes helping those who have lost out in the crypto crash. — Reuters

In a sleepy corner of the crypto-economy, the value of an obscure coin called Enzyme was tumbling downwards along with its peers earlier this month – but then something unusual happened on May 15.

Enzyme, also known as MLN, rocketed from 30 cents to 47 cents in just minutes and daily trading volumes exploded from around US$3mil (RM13.15mil) to more than US$100mil (RM438.25mil), according to CoinGecko.