Pump-and-dump spam goes old-school

by

It looks like spammers also get nostalgic around the holiday season. The spammer who sent these stock scams, must have been reminiscing about old-fashioned text spam when this outbreak was concocted.  The sad truth is this kind of low-tech spam can still get thru a lot of content-based filters, since the trading symbol of a random junk security is not likely to be on the keyword blacklists these kind of technologies rely on. Our detection lab recently blocked a slew of these On November 25 and 26.

etgu mail

For the curious out there, here is how the pump-and-dump scam ‘performed’. the spam was sent on Sunday and Monday, presumably trying to pump up the price during trading Monday. The graph below is a 2-day slice of a yahoo finance chart for ETGU. It shows the trade volume spiking on Friday. This is likely the spammers buying up the stock at a low price or $0.0004. then on Monday the price increases to a high $0.0009 as the gullible start buying based on the spam mails.

etgu spike

 

Go back