What does Fontas mean?
Fontas is a person or coordinated group of people who have been implicated in several “pump-and-dump” schemes in the cryptocurrency space. The identity of Fontas is unknown, but they have been known to purchase large amounts of cryptocurrencies at low prices, and then disseminate information (sometimes misleading or even false), which causes others to buy the cryptocurrency and inflate the price. Once the price has jumped higher Fontas sells their holdings for a large profit.
Fontas initially focused on Bitcoin, but more recently entered into the Litecoin and Namecoin spaces, albeit with less success as investors are now aware of the shenanigans being perpetrated by Fontas. While Fontas is far from the most popular entity in the cryptocurrency speculation game, even seasoned traders have admitted grudging respect due to the extreme effectiveness of the scheme.