Russian-based cryptocurrency exchange YoBit has announced plans to randomly pump coins on its exchange as part of a new promotion.

YoBit made the announcement via a tweet from its official Twitter account, claiming that the exchange itself would “buy one random coin for 1 BTC every 1-2 mins 10 times,” essentially injecting a coin’s market cap with an additional 10 BTC (roughly $62,000) and significantly driving up the coin’s value. YoBit has even created a “pump timer” so users can know when the pump is about to begin.

If this all sounds familiar, it’s because what YoBit is doing is very similar to the pump and dump schemes plaguing the cryptocurrency market.

In a pump and dump scheme, organizers will fill their bags with a particular coin, then announce to the organizer’s followers that a coin will be selected to pump. This typically includes some sort of countdown, and when the time arrives, followers are instructed by the organizer to buy up the coins. After a certain price is reached, the organizer will begin selling their coins at a profit into the followers who are buying up the coins. These schemes often only benefit the organizer of the pump and dump group, and leave the followers stuck holding heavy bags or being forced to sell at a loss.

The United States Commodity Futures Trading Commission (CFTC) earlier this year offered up a $100,000 bounty for information “that leads to a successful enforcement action that leads to monetary sanctions of $1 million or more”. YoBit is an exchange, so it’s not quite clear if the promotion could be interpreted as a pump and dump scheme, however, internet users were quick to brand it as such.

YoBit being based in Russia, appropriately chose PutinCoin (PUT) as the coin they would be pumping. The coin started the day at a low of 118 sats, to a high of 1768 sats, representing a 1398% increase in under 20 minutes.