“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
Related posts:
Orwell Reigns Over Raw Milk Trial
Police Shoot Man For No Reason Except Open-Carrying Rifle
Judge blasts FBI for bugging courthouse, throws out 200 hours of recordings
Feds can file criminal charges if you clear your browser history
Illinois Bill to Register Buyers of Gold and Silver Coins
Oppose the War: Send Congress a History Lesson
Special Report: Insiders on Why Bitcoin's Future Is Bright
Gold, Silver Product Demand Is 'Very Strong:' Royal Canadian Mint
Senator Diane Feinstein’s Husband Selling Post Offices to Cronies, Cheap
Illinois’ failing economic model: more food stamps, fewer jobs
Fukushima Radioactive Plume To Hit The US By Early 2014
The Trusting Soul Who Tipped Off the Boston Invaders
Uh Oh: "US is Deeply Concerned About Developments in the Ukraine"
ATF Mess in Milwaukee
World Bank Insider Blows Whistle on Corruption, Federal Reserve