Telegram Pump-and-Dump Ring Scams Crypto Investors, Nets $800K in One Month: Solidus Labs Report

A coordinated network operating on Telegram executed a large-scale pump-and-dump scheme, generating approximately $800,000 in illicit profits within just one month, according to a new report from blockchain surveillance firm Solidus Labs. The group, identified as a "ring," allegedly manipulated low-market-cap cryptocurrencies by artificially inflating their prices through coordinated buying before dumping the assets on unsuspecting retail investors. This case highlights the persistent risks of market manipulation within decentralized and social media-driven crypto trading environments. Solidus Labs emphasized the need for greater monitoring and regulatory scrutiny of such off-exchange activities to protect investors from these predatory schemes.