ASIC targets pump and dump Telegram groups
The Australian Securities and Investments Commission (ASIC) is going after pump and dump groups on Telegram.
On Monday an account under the name “ASIC” posted a message in the “ASX Pump Organization” on Telegram to warn around 300 members of the group that “we’re monitoring this platform and we may be investigating you.”:
Many of the group’s members assumed the account to be fake, however ASIC confirmed the validity of the now-deleted message to The Australian newspaper.
While some members of the community have laughed off the message from ASIC, others have vented their frustrations at being targeted instead of firms and corporate traders.
“What ASIC needs to do is go after the corporates who inside trade and short companies all the time, and
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