Continuing its crackdown against entities allegedly involved in a front-running scam using messaging app Telegram, Sebi on Thursday carried out search and seizure operations at the premises of eight entities in multiple locations across the country. Telegram boasts 500 million users, who share information individually and in groups in relative security. But Telegram's use as a one-way broadcast channel — which followers can join but not reply to — means content from inauthentic accounts can easily reach large, captive and eager audiences. 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. Multiple pro-Kremlin media figures circulated the post's false claims, including prominent Russian journalist Vladimir Soloviev and the state-controlled Russian outlet RT, according to the DFR Lab's report. "Markets were cheering this economic recovery and return to strong economic growth, but the cheers will turn to tears if the inflation outbreak pushes businesses and consumers to the brink of recession," he added.
from hk
