To the moon: defining and detecting cryptocurrency pump-and-dumps

Kamps, Josh; Kleinberg, Bennett

doi:10.1186/s40163-018-0093-5

Cited by 128 publications

(80 citation statements)

References 11 publications

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“…On the other hand, our results may be seen as fuel for a broader discussion about the role of cryptocurrencies. While clearly potentially helpful for citizens of countries beset by hyperinflation, evidence on the strong connection to illicit activity and the, as of yet, unrealized promise of providing a means to increase financial inclusion would seem to weigh in with arguments that the cryptocurrency's growth is to be seen as cause for concern-e.g., in the light of price manipulation (Griffin and Shams 2019), heavy electricity use associated with Bitcoin mining (Krause and Tolaymat 2018) and the increased occurrence of cybercrimes and frauds involving cryptocurrencies (Corbet et al 2019;Kamps and Kleinberg 2018;Li et al 2018;Su 2019).…”

Section: Implications For Scholars Of Digital Currencymentioning

confidence: 99%

Global drivers of cryptocurrency infrastructure adoption

2020

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A vast digital ecosystem of entrepreneurship and exchange has sprung up with Bitcoin's digital infrastructure at its core. We explore the worldwide spread of infrastructure necessary to maintain and grow Bitcoin as a system (Bitcoin nodes) and infrastructure enabling the use of bitcoins for everyday economic transactions (Bitcoin merchants). Specifically, we investigate the role of legal, criminal, financial, and social determinants of the adoption of Bitcoin infrastructure. We offer some support for the view that the adoption of cryptocurrency infrastructure is driven by perceived failings of traditional financial systems, in that the spread of Bitcoin infrastructure is associated with low trust in banks and the financial system among inhabitants of a region, and with the occurrence of country-level inflation crises. On the other hand, our findings also suggest that active support for Bitcoin is higher in locations with well-developed banking services. Finally, we find support for the view that bitcoin adoption is also partly driven by cryptocurrencies' usefulness in engaging in illicit trade.

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Section: Implications For Scholars Of Digital Currencymentioning

confidence: 99%

Global drivers of cryptocurrency infrastructure adoption

2020

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“…Several works addressed the cryptocurrency topic with a focus on manipulation patterns. In [22], authors provided a first look of cryptocurrency pumpand-dump schemes and found that such frauds target specific cryptocurrency coins and exchanges. However, their work was preliminary and did not yet analyze the coordination of pump-and-dumps in online chat groups, nor the means by which misinformation about specific coins is spread on, like on social media.…”

Section: A Cryptocurrency Manipulationsmentioning

confidence: 99%

Charting the Landscape of Online Cryptocurrency Manipulation

et al. 2020

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Cryptocurrencies represent one of the most attractive markets for financial speculation. As a consequence, they have attracted unprecedented attention on social media. Besides genuine discussions and legitimate investment initiatives, several deceptive activities have flourished. In this work, we chart the online cryptocurrency landscape across multiple platforms. To reach our goal, we collected a large dataset, composed of more than 50M messages published by almost 7M users on Twitter, Telegram and Discord, over three months. We performed bot detection on Twitter accounts sharing invite links to Telegram and Discord channels, and we discovered that more than 56% of them were bots or suspended accounts. Then, we applied topic modeling techniques to Telegram and Discord messages, unveiling two different deception schemes-"pump-and-dump" and "Ponzi"-and identifying the channels involved in these frauds. Whereas on Discord we found a negligible level of deception, on Telegram we retrieved 296 channels involved in pump-anddump and 432 involved in Ponzi schemes, accounting for a striking 20% of the total. Moreover, we observed that 93% of the invite links shared by Twitter bots point to Telegram pump-and-dump channels, shedding light on a little-known social bot activity. Charting the landscape of online cryptocurrency manipulation can inform actionable policies to fight such abuse.

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“…Reuters. Available at: https://www.reuters.com/ article/us-amazon-com-jobs-automation-insight/amazon-scraps-secret-ai-recruiting-tool-that-showed-bias-againstwomen-idUSKCN1MK08G (accessed 19.11.2020 [Caldwell, Andrews, Tanay, 2020;Kamps, Kleinberg, 2018;Van Der Wagen, Pieters, 2015;Wilner, 2018].…”

Section: современныеmentioning

confidence: 99%

Religious and Ethical Issues of Artificial Intelligence: Expert Assessments and the Vatican Position

Абрамов¹

2020

Concept: philosophy, religion, culture

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The paper is dedicated to the emergence of progressive artificial intelligence technologies and its relations to the human nature and soul, as viewed by experts and in such specific community as the church. We seem now to be entering a new phase of the comprehension of the moral aspects of the introduction of artificial intelligence (AI) into the life of different societies. The romantic period of high expectations and excessive anxiety is replaced by the growing understanding of the complexity of the man‒machine interaction, which implies the intersection moral, legal, political and utilitarian dimensions of both a person and an artifact. The problematic issues are now more obvious, clear and difficult, as the disciplinary boundaries are revealed and highlighted. Among the crucial issues one should mention deficiencies in definitions; weakness of research optics and the vision that would be friendly to other areas of study or practice. This also includes the issues of integral assessment of the existing dangers, difficulties in describing the mechanisms of fulfilling both ethical and technically viable requirements. As scientific knowledge accumulates, both the benefits of introducing AI technologies into everyday life and previously underestimated new threats become more obvious. These societal and humanitarian ones include, in particular, social turbulence, neuroticism, digital crimes and crimes associated freedom abuses and losses of identity. Over the past few years, state and non-governmental institutions have proposed different approaches to determining what is included in the moral core of the problem under consideration. The efforts of many, if not most, of them turn out to be compromised by suspicions in willful intents. In this context, the broad consensus with the key agent facilitators is required, and the role such actors play in providing social stability is indisputable. One of the key roles in offering society the broadest vision on the anthropocentric development and AI progress belongs to the Roman Catholic Church. The Vatican’s quest to unite philosophers, AI developers, and religious leaders to address the ethical challenges of designing and implementing robotics is becoming an important element of the Christian witness in a world that is consider ed irrevocably secularized by many.

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To the moon: defining and detecting cryptocurrency pump-and-dumps

Cited by 128 publications

References 11 publications

Global drivers of cryptocurrency infrastructure adoption

Global drivers of cryptocurrency infrastructure adoption

Charting the Landscape of Online Cryptocurrency Manipulation

Religious and Ethical Issues of Artificial Intelligence: Expert Assessments and the Vatican Position

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