Technologies
Cryptocurrency pump-and-dump schemes: Everything you should know about these scams
Don’t be the victim of a rug pull.

Cryptocurrency fans view Bitcoin, Ethereum and Dogecoin as the future of money for the globe. The underlying blockchain technology allows crypto to work by creating a digital ledger that records transactions, which would seemingly create a safer form of currency. But where there’s money to be made, scammers aren’t far behind.
Crypto pump-and-dump schemes are designed to take advantage of people while making some big money for scammers. They generally involve influencers who receive financial incentives for telling people to buy a certain digital coin in order to raise its value. Once the value goes up, the scammers and influencers sell their coins and pocket the profits, while everyone else sees their investments lose value.
These schemes mark the latest twist in the ever-changing story of cryptocurrencies, which have created some millionaires while bankrupting others through their persistent volatility. Even Dogecoin, a cryptocurrency created as a joke, garnered mainstream attention thanks to high-profile figures such as Tesla CEO Elon Musk, who said at last week’s B conference that he «pumps, but doesn’t dump.»
He’s not the only one.
Earlier this month, popular esports organization FaZe Clan suspended multiple members who participated in a crypto pump-and-dump disguised as a charity drive while taking home tens of thousands of dollars.
With cryptocurrencies becoming easier to develop, scammers are taking advantage of people who have developed FOMO, or «fear of missing out,» and are looking to jump on new crypto coins in hopes of getting rich.
Here’s what you need to know about crypto pump-and-dumps.
What is a pump-and-dump scam?
A pump and dump is a securities scam usually involving stocks. Scammers create false hype about a stock in order to generate interest. Once investors start buying shares, the price of the stock goes up. When the price reaches a certain point, the scammers behind the fake hype sell all of their shares. This causes the stock price to plummet, which leaves new investors holding the bag.
The movie The Wolf of Wall Street portrayed the infamous pump-and-dump scam conducted by Stratton Oakmont investment firm in the ’90s.
How does this scam work with cryptocurrency?
It doesn’t work much differently than with stocks. A certain crypto asset is pumped up by people in order to make the value increase.
«As the prices rise, the pump creators dump their assets into the FOMO they’ve generated, resulting in a price crash that leaves the new buyers holding a bag of the assets that now have a lower value than they were purchased at, creating significant and often unrecoverable losses,» said Douglas Horn, chief architect of Telos Core Developers.
What’s different is what’s used for the pump-and-dump. Bitcoin, Etherereum and Dogecoin are well-established cryptocurrencies, and it takes someone with the following of Musk to increase or decrease their value. However, since creating a whole blockchain system for a currency takes a lot of time and effort, those knowledgeable about coding can create their own crypto tokens, which are digital assets using an already existing blockchain like Bitcoin or Ethereum.
These tokens, also referred to as coins, can be created easily like Shiba Inu, which the developers have referred to as a «Dogecoin killer» in a tongue-in-cheek manner. Developers can also create billions of these coins, which in turn means they go for fractions of a penny. One Shiba Inu token, for example, costs $0.0000065, so you can buy 100,000 tokens for less than $1.
Since someone can create billions of tokens easily that cost hardly anything, all that’s needed is to convince enough people to buy these super cheap coins. This can be done through Discord channels, forums or social media, or by getting an influencer to promote the coin in exchange for their own trove of coins.
If the scammers have 1 billion tokens worth $0.000001 then that’s only worth $1,000. But if they can increase the value of a token by just one decimal point, their stash of coins is now worth $10,000. If they dump it quickly, that’ll cause its value to crash.
Another small difference with the crypto pump-and-dump is the term. While it’s known as a pump-and-dump, in crypto circles the scam is referred to as a «rug pull,» as in the rug was pulled right out from under the investors. Part of enticing people to buy these super cheap tokens is to say they’re «rug-proof,» which means there are measures in place to prevent people who have a large number of coins from selling them within a certain time period.
What are some examples of cryptocurrency pump-and-dumps?
In July, four members of the FaZe Clan participated in a pump-and-dump for a token called SaveTheChildren. The pro gamers, along with other influencers, pushed the coin to their followers. Once the price increased, they began selling off the tokens they were given to be part of the scam, with some making an estimated $30,000.
Another coin called SafeTrade was sold as «rug-proof» earlier this year. Once people started buying, the organizers sold their coins and left everyone else in the dust.
A 2020 study from the University of Technology Sydney and the Stockholm School of Economics in Riga found 355 instances of crypto pump-and-dump scams over the course of seven months. The organizers of these scams made millions.
Are pump-and-dump scams illegal?
For stocks, yes. For cryptocurrency, no.
The Securities and Exchange Commission is the government regulatory agency that investigates securities scams such as insider trading and pump and dumps. It doesn’t yet have similar rules for cryptocurrency, and doesn’t plan on implementing crypto regulations, at least for 2021.
How do you avoid crypto pump-and-dumps?
It’s important to understand if FOMO is contributing to your decision on whether to invest in a cryptocurrency. It may seem like everyone is getting rich off of Bitcoin or Dogecoin, but that’s not the case.
The next is to do your homework. Crypto coins or tokens can be created fairly easily by people who understand coding. If there’s a new coin that’s supposedly going to make you rich, do some web searches to learn more. The initial coin offering, or ICO, will have a «white paper» that offers details about the coin, who’s behind it, what their objective is and so on.
Then there’s a matter of the buzz that’s being generated. A way scammers get the word out about their coin is going into spaces where people are interested in cryptocurrency, such as Discord channels, social media and forums. If all of a sudden some person starts hyping up a brand new token, there’s a good chance they’re pushing a scam.
Be wary of any influencer who you may follow who hardly mentions cryptocurrency and randomly begins promoting a token. In the case of the FaZe Clan members, they promoted coins with a social media campaign and gave out thousands of free coins to their followers, which in turn entices other followers to buy coins — FOMO strikes again. If you’re going to take financial advice, get it from a professional and not someone whose claim to fame is being good at a video game.
Last, if you’re still interested in investing, then don’t invest more than you’re willing to lose. It’s possible that with the right timing, an investor could make money off a pump-and-dump, but it’s better to assume that the money you’re using to buy tokens will be gone forever.
Technologies
Circle to Search Is One of My Favorite AI Tools. Shame It’s Not on the iPhone Yet
Commentary: While a lot of mobile AI tools feel frivolous, this Google Search capability is intuitive. I just wish it weren’t restricted to Android phones.

Every time I use an iPhone, I lament that it doesn’t have one of the most practical mobile AI tools: Google’s Circle to Search. Until that feature comes to the iPhone — and I really hope it does soon — I don’t think most people will realize just how useful it can be.
Circle to Search is a way to quickly pull up information about anything on your Android phone’s screen. Just long-press the home button and then circle, scribble or tap whatever you want to look up. If you’re scrolling through Instagram and see a vacation spot you’d like to identify, a pair of shoes you want to buy or a word you want to look up, just draw around it and Google will pull up a list of relevant Search results.
You can even use your phone’s camera to point at something, then use Circle to Search to find out more. And a new capability that debuted on Thursday continuously translates text as you scroll through social media posts or switch between apps.
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Apple’s Visual Intelligence feature has some similarities to Circle to Search; it uses Apple Intelligence to identify what’s around you and whatever you snap a picture of. A new functionality arriving with iOS 26 will allow the tool to work with screenshots, so you can ask ChatGPT about what’s on your screen, add an event to your calendar or search for a product. But those capabilities are still relatively limited compared with Circle to Search. Plus, Visual Intelligence is available only on iPhone 15 Pro models or later, while Circle to Search is on a much broader range of Android phones.
I’ve used Circle to Search for a variety of tasks, from figuring out where to buy tea sets to identifying a song to looking up the breed of cute cats. (Clearly, the use cases are diverse.) It’s a seamless way of finding relevant links and information about anything that piques your curiosity, without struggling to describe it in a traditional Google search — especially when you don’t know the name of what you’re searching.
But if you do prefer to add words to your query, you can still do that with Circle to Search. Once the results pop up at the bottom of your screen, you can type in the Search bar to get more specific answers and information.
Circle to Search debuted in January 2024 on the Samsung Galaxy S24 series and the Pixel 8 lineup, and it’s now available on the latest Pixel devices as well as on Galaxy S, Z and A phones — meaning it’s not just confined to the priciest devices.
When will Circle to Search come to iPhones?
I’m glad more phones are getting Circle to Search and that it’s become somewhat standard on a handful of premium and more affordable Android phones (and I hope it lands on more). But I’m eagerly awaiting the day this feature arrives on the iPhone. I’m not holding my breath for Apple to announce the arrival of this capability at its iPhone 17 event on Tuesday, but I suppose anything’s possible.
Google hasn’t said anything about bringing Circle to Search to Apple devices, though you can carry out a similar function on iPhones using Google Lens in the Google app and on Chrome. But that’s simply not good enough for me. Circle to Search has been out for nearly two years, and it’s about time it made its iPhone debut in full force.
It’s a contentious time for tech companies like Google, Samsung and Apple, which are racing to crank out the most advanced AI-powered features. So while other Google apps and features like Lens, Drive and Calendar have made their way onto the iPhone, this is a whole different ball game.
But if reports about Apple potentially supercharging Siri with Google’s Gemini are any indication, there’s a high chance the two companies can agree that Circle to Search is a feature that also belongs on iPhones. And once it arrives, you’ll likely wonder how you ever lived without it.
Until then, I’ll just keep wishing I had an Android phone in my hand each time I scroll past a particularly tantalizing teapot on Instagram.
Technologies
Meta Reimagines Facebook’s Poke Feature to Gamify Gen Z Flirting
The early Facebook feature is still around and has now been gamified by Meta to appeal to younger people.

When was the last time you were poked on Facebook?
The feature, which has endured since the early days of the social-media platform, is still clinging to life and in fact being pushed again by Meta as a way to maintain connections with friends. Originally intended as a way to reach out to other users without actually sending a message or any meaningful content, it has been the focus of soft relaunches in 2017 and 2024.
Meta has now started promoting poking all over again, according to TechCrunch, as interest seems to be rising among younger users. Facebook now has a centralized poke page at facebook.com/pokes where you can view who has poked you, who you’ve poked and who Meta’s algorithm thinks should be the target of your next poking.
Plans for the poke include indicators for poke counts, the option to dismiss pokes and emoji badges similar to those on platforms including Snapchat and TikTok.
Technologies
This Portable Power Station Was My Lifeline During an Outage. Here’s Why I Recommend It
The Duracell M150 isn’t the biggest battery backup, but it has two killer features most power stations don’t.

I recently had Hurricane Erin blow through my area, resulting in lots of rain, some fallen trees and the seemingly inevitable power outage. It was the worst possible timing since I’m currently in the middle of moving into a new apartment, meaning my Jackery portable power station and emergency lantern are both sitting in a pile of boxes. Fortunately, I still had the Duracell M150 Power Station on my desk, and it helped save the night, allowing me to continue packing in the dark.
It looks like a giant two-tone Duracell AA battery, with a copper accent on the top. The charging hub with multiple high-output USB-C and USB-A ports has a built-in light ring and a dock that keeps it topped up all the time. It usually runs $159, but right now it’s available on Amazon with a new $149 price tag.
There’s also an adjustable MagSafe-compatible wireless charging pad up top, along with a storage compartment to stow away cables. Its larger sibling, the M250, is even featured on CNET’s list of favorite portable power stations for its unique design, though if you want something with more capacity, you should consider our best portable power stations list.
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The Duracell’s charging dock and light is the killer feature
The thing about most portable power stations is that you need to top them up periodically or leave them plugged in all the time so they’re always ready for emergencies, at the cost of battery lifespan. That’s the case with the Jackery Explorer 300 power station, which I also own and used as my mainstay power backup option. It’s a good device with pretty of runtime, but it requires me to be frequently plugging and unplugging it, which can be a hassle.
The Duracell M150 makes this process easier with the included charging dock, which keeps the M150 topped up whenever I need it. When my power went out, all I had to do was pull the dock off the charging stand and move it to where I needed it. That’s also where the built-in light came in handy. Unlike the Jackery Explorer 300, an unexpected outage didn’t leave me reaching for my phone’s flashlight. With a press of a button, I got immediate light and I was able to find my way around my dark and cluttered apartment.
The light isn’t as bright as an emergency lantern or camping light, but it’s more than enough to do in a pinch, giving me the time to check my breaker box to confirm that it wasn’t the cause of the outage and to find some back up entertainment options like my Steam Deck and Kobo Libra Color, while also serving as a tabletop light if I needed to head to the bathroom.
The Duracell also stands out for its size and weight. At just 1.8 pounds for the battery section and 0.6 pounds for the included charging dock, you can tote the whole thing around without too much trouble. However, it doesn’t have a carrying handle like the Jackery Explorer 300, which would have been a nice touch for added portability.
Does a portable power station make a good gift?
The Duracell M150 provides power whenever you need it, making it a great gift for those in areas more prone to outages. This can include places like Florida and the Gulf Coast or even people like me who live in older buildings with more decrepit infrastructure.
With its mix of USB-A and high-output USB-C ports and a wireless charging stand, it can charge devices ranging from laptops and phones to earbuds and smartwatches. There are also two additional models, the smaller and more compact M100 and the larger, more capacious M250 so you can pick whichever one suits your needs best. All three come with the charging dock and built-in light.
For other options, check out CNET’s list of the best portable power stations.
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