Cryptocurrency Scams: YoBit

I was going through my twitter feed when I saw a post by YoBit's official twitter account regarding a pump activity that will be conducted on the exchange in next 22 hours.

Below is the link to tweet:
https://twitter.com/YobitExchange/status/1050035464609124352

My first reaction was that YoBit's twitter handle might have been hacked but I was surprised to see that the users using the exchange got a mail confirming the same. Below is the screenshot of the mail users received:

I was shocked after hearing this, if this is a planned move by YoBit then it is a very stupid move in my opinion as it is not only unprofessional but illegal as well. This will definitely hurt the reputation of the exchange and can even lead to a legal notice and a possible shutdown.

I personally don't use YoBit but I know many others who do, it is also one of the top 50 exchanges by volume and any such incident will not only affect its users but will also impact the entire crypto market and therefore I would advice anyone using YoBit to not to fall for any such pump and dump activities and withdraw their funds from the exchange as soon as possible.

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