ALARMING NEWS ALERT ‼️‼️‼️‼️‼️‼️‼️

🚨 🚨 Beware of Pump and Dump Schemes: A Personal Account and Warning to Crypto

InvestorsDuring the final stages of the last bull run, I unknowingly joined a Telegram group that orchestrated a pump and dump scam. As the market was reaching its peak, I observed obscure coins experiencing sudden and dramatic price surges of up to 500% within minutes, only to crash hours later. With no news or project updates to justify these pumps, I grew suspicious of market manipulation.

My investigation revealed the reality of pump and dump schemes in the crypto world. After joining a group, I received details about an upcoming pump and dump event, including the specific coin, timing, and exchange. On the scheduled day, the group executed their plan, buying large quantities to inflate the coin's price. This caused unsuspecting investors to succumb to FOMO and buy into the scam.

I believe exchanges should consider temporarily halting withdrawals when coins experience rapid and suspicious price increases to protect users. Binance implemented such a measure with DREP in 2021, which safeguarded many investors. Stay tuned for more insights on how these scams operate and strategies to avoid them in future bull runs.

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