Same happens (happened?) with the cryptocurrency market, except unregulated; just some people in a chatroom or voice chat, some with a lot of money to spend, working together to influence the price of a currency and the exchanges. Giving each other advance warning of big trades coming in.
The infamous whale groups on telegram. You gotta be super careful with these, there are lots of scam. Ex: the leader of the group tells everybody to sell at 1pm, but actually himself and other get out just before and you end up the only one still holding the bag.
I think they should be assumed scams period. That is the whole point of the Nigerian Prince fraud aspect - reporting them would be "I got duped while attempting financial crimes!".
