Currently, domestic victims have reported that they have contacted the police.
On the night of October 23rd to the early morning of the 24th, the Shar project skyrocketed to nearly 60 million USD, then plummeted 96% within five minutes!
All of this happened because a certain big shot sold off 500 million SHAR tokens at once, which is half of the total supply! According to those folks at Lookonchain, this transaction was orchestrated by an insider trader. At 5 AM on the 24th, he consolidated SHAR from over a hundred wallets into one wallet and sold it all at once.
You might wonder how this project suddenly became popular? In fact, it relied on the hype of well-known institutions and enlisted some famous KOLs to promote it, which deceived so many people's trust.
I don't want to name names, but the big KOL with over a hundred thousand followers also promoted it with two tweets, which have now been deleted.
In reality, these false promotions, leveraging well-known institutions, and hiring KOLs for advertising don’t cost much. If the promotional fees are in SHAR tokens, for the project party, it’s essentially a no-risk situation. Now, some domestic victims have already reported to the police.
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