According to Izvestia, the Federal Security Service of Russia (FSB) has arrested three Telegram investment channel bloggers, accusing them of allegedly manipulating the stock of 19 companies listed on the Moscow Exchange through a “Pump & Dump” strategy, involving more than 55,000 illegal trades. The Bank of Russia said cases are on the rise in which financial bloggers make profits by having their followers “buy the dip,” and it will continue to crack down hard on such market manipulation. It is reported that research from Moscow State University shows that about 11% of Telegram investment signals can directly affect stock price movements, while in the Russian market, over 60% of retail investors heavily rely on social media signals to trade.