🛑🛑🛑ALARMING NEWS ALERT ‼️‼️‼️‼️‼️‼️‼️

🚨 🚨 Beware of Pump and Dump Schemes:

A Personal Account and Warning to Crypto Investors

During the peak of the last bull run, I unknowingly joined a Telegram group involved in a pump and dump scam. As the market soared, I noticed obscure coins suddenly spiking up to 500% within minutes, only to crash shortly after. With no substantial news or updates to justify these spikes, I became suspicious of market manipulation.

Through investigation, I uncovered the truth about these pump and dump schemes prevalent in the crypto world. After joining the group, I received detailed information about an upcoming event, including the specific coin, timing, and exchange. On the designated day, the group would buy large quantities to artificially inflate the coin's price, causing 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 surges to protect users. For instance, Binance implemented such a measure with DREP in 2021, safeguarding 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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