Emerald Coin Pump-Dump Fraudsters Will Face 4.5 Year Prison

Emerald coin’s Founder will have to face lots of fines by the Chinese regulators. Huge accusation against him & their teammates to manipulate coin’s market. 

Emerald coin entered the Cryptocurrency market and claimed that they are the innovation of the crypto market which are based on the EOS platform. Scammers manipulated the market of coins through their pump dump scheme & stole around $2.5 million from the investors. 

The news is shared by the Chinese news journalist Wu, on twitter they shared that scammers of the pump dump scheme in Emerald Coin will be sentenced to 4 year and 6 month prison. 

According to the news, fraudsters scammed Emerald coin’s Investors through the manipulation of the market of Emerald coin. 

Emerald coin was launch in the mid of 2020. This coin shows appearance in the Crypto market only for 13 hours. The creator of the coin manipulated the price of the coin through own accounts and pumped the coin’s price at a very high price. At the end they sold all of their coins and stole almost all the money of the investors in that coin.

After that many people reported to the Zhèjiāng Province Bureau of Public Security & requested to investigate and catch the fraudsters of this whole game.

Now finally after 9 month investigation, one of them is finally in their hands and soon other team-mates will be caught and restore the whole stolen money $2,500,000. And also fraudsters have to  pay a fine of 100,000 CNY for this criminal activity with 4.5 year prison. 

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