Abstract
Cryptocurrency is a digital exchange medium stored in the Distributed Ledger Technology (DLT) and form the basis for the term crypto-assets. This paper focuses on the group of cryptocurrencies (or crypto-assets) that belong to Public Permissionless Blockchains and explains historical pump-and-dump, and how this old scheme appears to be applied now to cryptocurrency trading. This work explores the nature of the blockchain ecosystem, where cryptocurrencies exist, and proposes that ironically the encryption and immutability nature of the blockchain make cryptocurrencies vulnerable to pump-and-dump schemes. The lack of adequate regulation in Europe leaves cryptocurrencies vulnerable to pump-and-dump schemes causing an overall effect of vulnerable consumers expossed to fraudsters. Cryptocurrency pump-and-dump also affects investors, the development of cryptocurrencies, and the blockchain itself.