Guru_UA
Junior Member
- Jul 4, 2010
- 139
- 67
(pardon the errors, translation from Russian)
I want to tell about current scam scheme in Russian-language crypto-channels.
Victims are enticed to trade "promising new" cryptocurrencies on PancakeSwap exchange.
Channels engaged in fraud, actively advertised, not sparing money, collect tens of thousands of subscribers. The audience is usually first "fed" with signals on crypto stolen from other channels in order to gain trust, as if the author is on the subject.
And then the author declares that he has 100% insider info that some new super-copper is about to take off and he goes in for the whole cutlet and buys it. They tell about real takeoffs, like SQUID and SHIB and how much profit could be made on it, they show screenshots of how many thousands of dollars the author bought. But this coin is new, it is not traded on large exchanges, you can buy it only on PancakeSwap. And you can see the chart only on some poocoin.app, a site with a telling name
And the value of the coin on the chart really starts rocketing, the author of the channel tells me that he is running to take loans and borrow money to invest everything into the new coin. Soon it will have a listing on Binance, soon the developers will burn their coins, the supply of coins is limited, the price will go up another 1000%, everyone buy. The price keeps going up parabolically, the author keeps urging to buy.
You would think that this is a classic pump & dump, and there are those who think so, and invest, believing that they will get out in time, but it's more fun.
The infrastructure for exchanging coins, hardware and software, which for normal coins is provided by miners, for this scam coin is provided and fully controlled solely by "the developer". And his exchange network has a simple rule - you can withdraw a coin from his, and only from his wallet, from other wallets withdrawal is impossible, only input.
That is, anyone can buy a coin, but sell only the "developer". Being the only seller, he can draw any price for it, any charts, rockets, and all money for any coin purchase goes directly into the purse of the scammer.
Hundreds of videos appeared on youtube, how to trade on PancakeSwap, how to transfer money there and buy token unknown to anyone. I think almost all of these videos are created by scammers for such scheme, if you place a comment under such video, which at least briefly mention that there are scam coins, which can be bought but physically impossible to sell, then the comment will not last even a minute at any time of the day, promptly deleted.
I want to tell about current scam scheme in Russian-language crypto-channels.
Victims are enticed to trade "promising new" cryptocurrencies on PancakeSwap exchange.
Channels engaged in fraud, actively advertised, not sparing money, collect tens of thousands of subscribers. The audience is usually first "fed" with signals on crypto stolen from other channels in order to gain trust, as if the author is on the subject.
And then the author declares that he has 100% insider info that some new super-copper is about to take off and he goes in for the whole cutlet and buys it. They tell about real takeoffs, like SQUID and SHIB and how much profit could be made on it, they show screenshots of how many thousands of dollars the author bought. But this coin is new, it is not traded on large exchanges, you can buy it only on PancakeSwap. And you can see the chart only on some poocoin.app, a site with a telling name
And the value of the coin on the chart really starts rocketing, the author of the channel tells me that he is running to take loans and borrow money to invest everything into the new coin. Soon it will have a listing on Binance, soon the developers will burn their coins, the supply of coins is limited, the price will go up another 1000%, everyone buy. The price keeps going up parabolically, the author keeps urging to buy.You would think that this is a classic pump & dump, and there are those who think so, and invest, believing that they will get out in time, but it's more fun.
The infrastructure for exchanging coins, hardware and software, which for normal coins is provided by miners, for this scam coin is provided and fully controlled solely by "the developer". And his exchange network has a simple rule - you can withdraw a coin from his, and only from his wallet, from other wallets withdrawal is impossible, only input.
That is, anyone can buy a coin, but sell only the "developer". Being the only seller, he can draw any price for it, any charts, rockets, and all money for any coin purchase goes directly into the purse of the scammer.
Hundreds of videos appeared on youtube, how to trade on PancakeSwap, how to transfer money there and buy token unknown to anyone. I think almost all of these videos are created by scammers for such scheme, if you place a comment under such video, which at least briefly mention that there are scam coins, which can be bought but physically impossible to sell, then the comment will not last even a minute at any time of the day, promptly deleted.
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