“A still-unknown fraudster published a fake news story today on a website designed to look identical to Bloomberg News. The site was convincing enough to send Twitter stock soaring up nearly 8 percent after it claimed the company was being acquired for $31 billion and suggested Google was the buyer. It was most likely part of a pump and dump scheme, where the actor behind the bad information quickly sold their Twitter stock as the price rose.  In the age of social media and high-frequency trading, huge amounts of money can trade hands in seconds, often allowing the perpetrator to cash out well before the information is proven false.”

http://www.theverge.com/2015/7/14/8962433/fake-bloomberg-news-twitter-stock-scam

Did you like this?
Tip Freedomwat.ch Staff with Bitcoin

Donate via Installed Wallet Copy