TRUST Alert** ‼️‼️‼️
🚨 **Beware of Pump and Dump Schemes: Personal Warning for Cryptocurrency Investors** 🚨
During the most recent price increase, I accidentally joined a Telegram group that orchestrated a pump and dump scam. When the market peaked, I watched anonymous coins skyrocket up to 500% within minutes, then crash a few hours later. The lack of news or updates makes me suspicious of market manipulation.
My investigation uncovered the dark reality of pump and dump schemes. The team shared details about an upcoming event, including specific currencies, timings, and exchanges. On the designated day, they buy in bulk to increase the price of the coin, luring unsuspecting investors into the scam through FOMO.
To protect users, I believe exchanges should temporarily stop withdrawals when prices increase rapidly and suspiciously. Binance implemented this measure with DREP in 2021, protecting the safety of many investors. Stay informed about how these scams work and learn strategies to avoid them during future price increases.
Stay safe and alert! 🌐💡
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