I'm skeptical of the total loss quoted. If a stock drops from 2B to 0.3B market cap, it doesn't necessarily mean that investors lost 1.7B in the pump and dump.

I'm skeptical of the total loss quoted. If a stock drops from 2B to 0.3B market cap, it doesn't necessarily mean that investors lost 1.7B in the pump and dump. For that to happen 100% of the shares would have had to have traded hands. The remaining investors would have been there for the ride up as well as the ride back down.