The regulator said it had received information that messages containing stock tips and other investment advice with respect to selected listed companies are being widely circulated through websites and social media platforms such as Telegram, Facebook, WhatsApp and Instagram. The account, "War on Fakes," was created on February 24, the same day Russian President Vladimir Putin announced a "special military operation" and troops began invading Ukraine. The page is rife with disinformation, according to The Atlantic Council's Digital Forensic Research Lab, which studies digital extremism and published a report examining the channel. These entities are reportedly operating nine Telegram channels with more than five million subscribers to whom they were making recommendations on selected listed scrips. Such recommendations induced the investors to deal in the said scrips, thereby creating artificial volume and price rise. As such, the SC would like to remind investors to always exercise caution when evaluating investment opportunities, especially those promising unrealistically high returns with little or no risk. Investors should also never deposit money into someone’s personal bank account if instructed. "We as Ukrainians believe that the truth is on our side, whether it's truth that you're proclaiming about the war and everything else, why would you want to hide it?," he said.
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