The cryptocurrency industry is prone to pump-and-dump schemes for quite some time now. This tends to happen with small-cap altcoins on a regular basis. Things get a lot more confusing when exchanges publicly announce they will pump specific coins as well. It is unclear what YoBit is thinking at this point.
YoBit’s Pumping Plans
The YoBit exchange has always been controversial. It primarily supports currencies and tokens no one has ever heard of, which makes it a good place for pump groups to make some quick money. Concerns regarding cryptocurrency trading volume being faked have become more apparent over the years, and small altcoin exchanges have been scrutinized because of it.