Perseus: A tool for tracking the coordination of pump-and-dump crypto coin schemes – Tech Xplore

🔍 Summary:

Researchers at University College London have developed a new tool named Perseus to expose and analyze pump-and-dump schemes in the cryptocurrency market. This tool has identified around 438 masterminds who orchestrate these schemes, generating about $250 million annually from $3.2 trillion in manipulated trading volumes. These fraudulent activities are primarily coordinated through the messaging app Telegram, where accomplices help spread the hype to inflate the coin prices artificially. The study underscores the urgent need for regulatory measures to prevent the potential collapse of the market due to these manipulative practices. The findings were published on the arXiv preprint server and emphasize the risks associated with the still largely unregulated and nascent field of cryptocurrencies.

📌 Source: https://techxplore.com/news/2025-03-perseus-tool-tracking-dump-crypto.html