Jump Crypto, a division of Jump Trading, has faced allegations of manipulating altcoin listings, notably in a lawsuit by FractureLabs in October 2024. The case centers on the DIO token, tied to the game Decimated. FractureLabs claims Jump, hired as a market maker for DIO’s 2021 Huobi (HTX) listing, artificially pumped its price to $0.98 using 10 million borrowed tokens, then dumped them, crashing the price to $0.005 and profiting millions. Similarly, Jump was linked to TerraUSD (UST) manipulation in 2023, allegedly earning $1.28 billion by propping up UST before its collapse. A third case involves undisclosed altcoin trades under CFTC scrutiny in 2024, suggesting a pattern of exploiting listings for profit. These incidents highlight Jump’s alleged use of market-making to manipulate altcoin prices.
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