New rug pull scam method I've seen at least 3x now

[Opulentos]

I've got a LOT of money to play with my affiliate earnings and sold businesses, and I put a chunk of that into stable coins while DCA'ing. I also like being a gambling degenerate with sh*tcoins so I throw burnable money into them not expecting anything. It's either moon or dust.

Recently over the last week I've seen 3 coins rug the same way. A coin would go from $10k MC to $2-3m, the TG would be blowing up, people are chatting, it's hyped up, buy bots are showing high volume and whale buys, people are talking in the voice chat, the Dexscreen is trending. It basically looks like the next 100x in anyones eyes.

And then boom, it comes crashing down, and for the same reason I've seen on 3 coins so far.

There'd be a rogue admin who locks the chat during an off peak time so no one can send a message, they'd send a message to the group saying to send the meme coin to a specific wallet for "migration" or "V2" etc, and then pin the message. No other admin can see this because they're offline or sleeping etc. People still online see this, send their coins en masse, the rogue admin sells the coins, and everyone panic sells leading to a massive sell off.

I've seen this 3x now and wondering if its an insider rug pull by an actual member of the coin makers or if a person socially engineered a way to build trust and get admin status (ability to ban members, pin messages, lock chat etc) and then do the rug.

 

[MR.Spuf]

I've got a LOT of money to play with my affiliate earnings and sold businesses, and I put a chunk of that into stable coins while DCA'ing. I also like being a gambling degenerate with sh*tcoins so I throw burnable money into them not expecting anything. It's either moon or dust.

Recently over the last week I've seen 3 coins rug the same way. A coin would go from $10k MC to $2-3m, the TG would be blowing up, people are chatting, it's hyped up, buy bots are showing high volume and whale buys, people are talking in the voice chat, the Dexscreen is trending. It basically looks like the next 100x in anyones eyes.

And then boom, it comes crashing down, and for the same reason I've seen on 3 coins so far.

There'd be a rogue admin who locks the chat during an off peak time so no one can send a message, they'd send a message to the group saying to send the meme coin to a specific wallet for "migration" or "V2" etc, and then pin the message. No other admin can see this because they're offline or sleeping etc. People still online see this, send their coins en masse, the rogue admin sells the coins, and everyone panic sells leading to a massive sell off.

I've seen this 3x now and wondering if its an insider rug pull by an actual member of the coin makers or if a person socially engineered a way to build trust and get admin status (ability to ban members, pin messages, lock chat etc) and then do the rug.

Seems both. Anyways, risky business with memes Wild wild west

 

[HenryObi]

I've got a LOT of money to play with my affiliate earnings and sold businesses, and I put a chunk of that into stable coins while DCA'ing. I also like being a gambling degenerate with sh*tcoins so I throw burnable money into them not expecting anything. It's either moon or dust.

Recently over the last week I've seen 3 coins rug the same way. A coin would go from $10k MC to $2-3m, the TG would be blowing up, people are chatting, it's hyped up, buy bots are showing high volume and whale buys, people are talking in the voice chat, the Dexscreen is trending. It basically looks like the next 100x in anyones eyes.

And then boom, it comes crashing down, and for the same reason I've seen on 3 coins so far.

There'd be a rogue admin who locks the chat during an off peak time so no one can send a message, they'd send a message to the group saying to send the meme coin to a specific wallet for "migration" or "V2" etc, and then pin the message. No other admin can see this because they're offline or sleeping etc. People still online see this, send their coins en masse, the rogue admin sells the coins, and everyone panic sells leading to a massive sell off.

I've seen this 3x now and wondering if its an insider rug pull by an actual member of the coin makers or if a person socially engineered a way to build trust and get admin status (ability to ban members, pin messages, lock chat etc) and then do the rug.

The vast majority of rug pulls are orchestrated by insiders. There's no two ways about it.

Since you're able to see them at $10k MC, you should know that once it hits $1m, it's time to pull out. Assume most coins are rug pulls unless proven otherwise. $10k to $1m is 100x

 

[Venusaur]

If I was a mod of a coin with 3M in marketcap, I would not sleep for 72h bro
This is 100% bullshit, fully orchestrated by insiders, this memeshit is way worse than NFT, it's just a scam paradise

 

[Opulentos]

If I was a mod of a coin with 3M in marketcap, I would not sleep for 72h bro
This is 100% bullshit, fully orchestrated by insiders, this memeshit is way worse than NFT, it's just a scam paradise

You'd be surprised. I was a part of a coin called $DecentLad and got in very early at $8k market cap, it was extremely lucky. I joined the TG when it had like 20-30 members and saw it grow to 1000 in 24 hours. I DM'd the admin of the TG because he had no idea what he was doing with TG and he gave me admin access so I helped clean the chat up and the spam.

It got to $2m MC, dipped to around $1m and then the same pinned message + locked chat rug happened by a rogue admin,

Hence why I'm intrigued because even me (not an insider, just a random degen who found a coin on a tiktok video) became admin so I thought maybe things can happen.

 

[RussianBroski]

thank you for sharing this info
I didn't quite understand something
Are they creating a new coin with same name and making people buy them? Or is it just a common wallet address and people send money to them?

 

[Diabolic-]

I've got a LOT of money to play with my affiliate earnings and sold businesses, and I put a chunk of that into stable coins while DCA'ing. I also like being a gambling degenerate with sh*tcoins so I throw burnable money into them not expecting anything. It's either moon or dust.

Recently over the last week I've seen 3 coins rug the same way. A coin would go from $10k MC to $2-3m, the TG would be blowing up, people are chatting, it's hyped up, buy bots are showing high volume and whale buys, people are talking in the voice chat, the Dexscreen is trending. It basically looks like the next 100x in anyones eyes.

And then boom, it comes crashing down, and for the same reason I've seen on 3 coins so far.

There'd be a rogue admin who locks the chat during an off peak time so no one can send a message, they'd send a message to the group saying to send the meme coin to a specific wallet for "migration" or "V2" etc, and then pin the message. No other admin can see this because they're offline or sleeping etc. People still online see this, send their coins en masse, the rogue admin sells the coins, and everyone panic sells leading to a massive sell off.

I've seen this 3x now and wondering if its an insider rug pull by an actual member of the coin makers or if a person socially engineered a way to build trust and get admin status (ability to ban members, pin messages, lock chat etc) and then do the rug.

Brutal. Absolutely brutal.

 

[savitaprasad]

Are you talking about snakewifi?

 

[halfyboy]

I've got a LOT of money to play with my affiliate earnings and sold businesses, and I put a chunk of that into stable coins while DCA'ing. I also like being a gambling degenerate with sh*tcoins so I throw burnable money into them not expecting anything. It's either moon or dust.

Recently over the last week I've seen 3 coins rug the same way. A coin would go from $10k MC to $2-3m, the TG would be blowing up, people are chatting, it's hyped up, buy bots are showing high volume and whale buys, people are talking in the voice chat, the Dexscreen is trending. It basically looks like the next 100x in anyones eyes.

And then boom, it comes crashing down, and for the same reason I've seen on 3 coins so far.

There'd be a rogue admin who locks the chat during an off peak time so no one can send a message, they'd send a message to the group saying to send the meme coin to a specific wallet for "migration" or "V2" etc, and then pin the message. No other admin can see this because they're offline or sleeping etc. People still online see this, send their coins en masse, the rogue admin sells the coins, and everyone panic sells leading to a massive sell off.

I've seen this 3x now and wondering if its an insider rug pull by an actual member of the coin makers or if a person socially engineered a way to build trust and get admin status (ability to ban members, pin messages, lock chat etc) and then do the rug.

The fact that people are sending tokens to another wallet because an admin asked shows that scammers are feeding on people's ignorance.
Anyone who spent a few weeks trading memecoins will spot this kind of scam.

People should spend more time educating themselves and learning about the space before jumping blindly and losing their money.

 

[cheetahogreen]

It sounds like these are classic insider rug pulls, where a rogue admin exploits trust and admin access to orchestrate the scam, often by socially engineering their way into power within the group.

 

[Scorpion Ghost]

Are you talking about snakewifi?

Snake didnt rug. Its alive and well.

 

[doctorjones]

pump.fun is 99% rugs right now