• hark@lemmy.world
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    1 year ago

    So does this count as some kind of fraud or insider trading that can be prosecuted by, say, the SEC or CFTC?

    • Graz@feddit.de
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      1 year ago

      Sure does! But nothing will happen, you’re essentially a 100% safe running pump and dump schemes as long as you only rip off poor people.

      Check out Coffeezilla’s yt channel, there’s loads of obvious fraudsters out there, nothing ever happens to them.

    • KairuByte@lemmy.dbzer0.com
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      1 year ago

      Wasn’t this information public for days before the dump? I don’t think this can be considered anything illegal if that’s the case, everyone had the same information available. Mods don’t get some sort of special insider preview of most things like this.

      • hark@lemmy.world
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        1 year ago

        When clicking on the article, the line under the title says: “Analysis suggests at least three Reddit moderators dumped thousands of dollars worth of Moons just minutes before the actual announcement.”