'Wild West' Perpetrators of such fraud use various marketing techniques to attract subscribers on their social media channels. Although some channels have been removed, the curation process is considered opaque and insufficient by analysts. Despite Telegram's origins, its approach to users' security has privacy advocates worried. These entities are reportedly operating nine Telegram channels with more than five million subscribers to whom they were making recommendations on selected listed scrips. Such recommendations induced the investors to deal in the said scrips, thereby creating artificial volume and price rise.
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