Yes. Cryptocurrency still remains largely unregulated and since the SEC does not class Etherium-like cryptocurrencies as a security, that means anything goes.Who organizes this?
Groups of investors found mostly on Telegram and occasionally on other social platforms like Discord, WhatsApp, Twitter, and Facebook.Say you wanted to start your own pump and dump, what would you do?
It is a six-step process.
Step one: find a low cap asset and begin accumulating tokens over time. Make sure to do this slowly or you could cause a premature spike in the price.
Two: convince a group of investors of your plan. Whisper of riches beyond their wildest dreams and once you know they have been hooked: tell them to wait on buying the asset until you make the call.Top tip: don’t tell them you bought a sh*t load already.
Three: gather people until there is enough buying power to move the needle. Most coins will not take much to manipulate.
Four: make the call. Tell your investors to buy the asset, that will cause the price to explode.pump For maximum effect: spread word of the rallying coin across other crypto communities to help inflate the price further.
Five: sell all of your holdings. Others will follow on in a panicked rush— triggering a complete crash of the price.… and dump
Six: while some walk away with profit, others stare in confusion at their worthless bags. Meanwhile you’ve made a quick getaway.
Luckily, there is a way you can get involved without having to run an elaborate scam group.What if you want to participate, but don’t want to start a sketchy group?
Start by joining a couple of pump and dump Telegram groups — you can find some of them here: https://safetrading.today.
Great, that you’re in them, keep an eye on the feed. Suddenly out of nowhere people will start shilling assets with a low market cap.
Boom, the game is on. Open up the gra...