A flood of emails arrived from random email addresses such as shone @ilmer.nl, rowland94259 @igrejabatisnot.com.br, stuart7544 @eso.org.pjk and humphrey7488 @phuketlifestyle.com
They promise to double or quadruple my money within days or increase my investment by 1,500%
What must I do?
Buy shares in APPSWARM (the id is actually SWRM) and then watch the price rocket within a few days.
However, this is just a standard “pump and dump” scam.
They do their best to push people to invest in the stock quickly, If enough people buy then the price rises. Once it reaches a set level then they sell their stock and the price drops and all of those people who just bought it lose out.
The scammers may be involved with APPSWARM or they may have picked it at random to try “pump and dump”.
Traditionally these scams were carried out using newspaper articles to pump the price of a stock but nowadays it’s clear that scammers go for the quicker cheaper approach of sending out millions of spam messages instead.
I hope it fails and they are investigated by the authorities.
APPSWARM is actually a mobile games developer. It is very small, losing money and its shares are currently worth less than 1 cent each.
You don’t have to be a stock market expert to conclude this is not a good investment.
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