Beware of Cryptocurrency Pump and Dump Scams
What is Pump and Dump in Cryptocurrencies? 💹🚨
Pump and dump is a shady scam in the cryptocurrency world where bad actors artificially increase the price of a coin (“pump”) to attract buyers and then sell their assets all at once (“dump”), causing the price to drop. This tactic thrives on hype and preys on inexperienced investors.
1. How Pump and Dump Schemes Work 🎭
* Buy the token: scammers quietly accumulate a low market cap coin. 🪙
