December 4, 2021

Attention everyone! New crypto scam

I would like to tell you about the current fraud scheme in Russian-speaking crypto-channels.
The victims are called trade "promising new" crypto-coins on the PancakeSwap exchange.
Channels engaged in fraudulent activitiesadvertised, sparing no money, collecting tens of thousands of subscribers. Typically, the audience is first "fed" with crypt signals stolen from other channels in order to gain credibility, as if the author is in the subject.
And so the author announces that he has 100%insider infa that such and such a new super-coin will take off now and he goes all-in and buys it for the whole cutlet. They talk about real take-offs, like SQUID and SHIB and how much money could be made on it, they show screenshots of how many thousands of dollars the author bought. But the coin is new, it is not traded on large exchanges, you can buy such coins only on PancakeSwap. And look at the graph only on some, a site with a self-explanatory name :) And the value of the coin on the graph really starts to take off like a rocket, the channel's author says that he runs to take loans and borrow money in order to invest everything in a new coin. Soon it has a listing on Binance, soon the developers will burn their coins, the supply of coins is limited, the price will rise by another 1000%, buy everything. The price continues to rise parabolic, the author continues to call for a purchase.
One would think that this is a classic pump & dump, and there are those who think so and invest, believing that they will have time to get out, but here everything is more fun.
Infrastructure for the exchange of coins, iron andthe software that miners provide for normal coins, for this scam coin is provided and fully controlled by the sole "developer". And in his exchange network there is a simple rule - you can withdraw a coin from his, and only from his wallet, from other wallets it is impossible to withdraw funds, only input.
Those.anyone can buy a coin, but only the "developer" can sell it. As the only seller, he can paint her any price, any charts, rockets, and all the money for any purchase of a coin goes directly to the fraudster's wallet.
Hundreds of videos have appeared on youtube on how to trade onPancakeSwap, how to transfer money there and buy an unknown token. I think that almost all of these videos were created by scammers for such a scheme, if you place a comment under such a video, in which at least briefly mention that there are scam coins that can be bought but physically impossible to sell, then the comment will not sag for a minute at any time of the day, promptly removed.

Facebook Notice for EU! You need to login to view and post FB Comments!