10-18-2022, 04:08 PM
The Madness of the Crypto Community - how a Vitalik joke created a Pump & Dump scheme
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/y6js30/the_madness_of_the_crypto_community_how_a_vitalik/"> <img src="https://b.thumbs.redditmedia.com/ZN4UUP7cd9Cs2EWzmeIx17uOWwWJmvAF3fNJIQRAmMc.jpg" alt="The Madness of the Crypto Community - how a Vitalik joke created a Pump & Dump scheme" title="The Madness of the Crypto Community - how a Vitalik joke created a Pump & Dump scheme" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>It all started 3 days ago when Vitalik ( one of the founders and the most popular person related to Ethereum ) tweeted this:</p> <p><a href="https://preview.redd.it/xrsxwiwfzeu91.png?width=588&format=png&auto=webp&s=2f05ce9c594b0d05a2feaf2d27d3947b952b808f">https://preview.redd.it/xrsxwiwfzeu91.png?width=588&format=png&auto=webp&s=2f05ce9c594b0d05a2feaf2d27d3947b952b808f</a></p> <p>It was a joke. A pretty clear one. But we all know what happened EXACTLY at that moment. Somebody literally created the project <strong>within hours</strong>.</p> <p><a href="https://preview.redd.it/r4g7guoozeu91.png?width=584&format=png&auto=webp&s=b3cade434496c12b17c1e4ee05c3e3278328e71e">and he just realized it ...</a></p> <p>So I've been looking up said project because I love charts and can only imagine how much it already pumped. And I came across this :</p> <p><a href="https://preview.redd.it/rmalu83vzeu91.png?width=1142&format=png&auto=webp&s=aaa1cc0a4710a42d9e114729c9df0f290ffed2cb">https://preview.redd.it/rmalu83vzeu91.png?width=1142&format=png&auto=webp&s=aaa1cc0a4710a42d9e114729c9df0f290ffed2cb</a></p> <p><strong>Within a single minute of Vitalik tweeting about it the Shitcoin pumped +3000%</strong> and... it already sold off again. ( suprised pikachu face )</p> <p>This gives me some strong Squid Game token vibes. Creating a crypto based on a trend, let liquidity build up and people pump it up, proceed to dump your entire bag and drain entire liquidity out.</p> <p>Arguably you can say that "oh but it's already up so those buying early profit out of it" Yea but at the same time 999/1000 people are the exit liquidity after doing so. Crypto is full of pump & dump schemes and every day there's new coins being created causing hype, whales manipulating them and scamming people at the end.</p> <p>Watch out in what you invest! And always remember - we are in the middle of a bear market. Top crypto are on a fire sale right now. Might be a better idea going for a 2-10x on a solid project then trying to find a 100-1000x between tons of scam coins.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/TarkovReddit0r"> /u/TarkovReddit0r </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/y6js30/the_madness_of_the_crypto_community_how_a_vitalik/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/y6js30/the_madness_of_the_crypto_community_how_a_vitalik/">[comments]</a></span> </td></tr></table>
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/y6js30/the_madness_of_the_crypto_community_how_a_vitalik/"> <img src="https://b.thumbs.redditmedia.com/ZN4UUP7cd9Cs2EWzmeIx17uOWwWJmvAF3fNJIQRAmMc.jpg" alt="The Madness of the Crypto Community - how a Vitalik joke created a Pump & Dump scheme" title="The Madness of the Crypto Community - how a Vitalik joke created a Pump & Dump scheme" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>It all started 3 days ago when Vitalik ( one of the founders and the most popular person related to Ethereum ) tweeted this:</p> <p><a href="https://preview.redd.it/xrsxwiwfzeu91.png?width=588&format=png&auto=webp&s=2f05ce9c594b0d05a2feaf2d27d3947b952b808f">https://preview.redd.it/xrsxwiwfzeu91.png?width=588&format=png&auto=webp&s=2f05ce9c594b0d05a2feaf2d27d3947b952b808f</a></p> <p>It was a joke. A pretty clear one. But we all know what happened EXACTLY at that moment. Somebody literally created the project <strong>within hours</strong>.</p> <p><a href="https://preview.redd.it/r4g7guoozeu91.png?width=584&format=png&auto=webp&s=b3cade434496c12b17c1e4ee05c3e3278328e71e">and he just realized it ...</a></p> <p>So I've been looking up said project because I love charts and can only imagine how much it already pumped. And I came across this :</p> <p><a href="https://preview.redd.it/rmalu83vzeu91.png?width=1142&format=png&auto=webp&s=aaa1cc0a4710a42d9e114729c9df0f290ffed2cb">https://preview.redd.it/rmalu83vzeu91.png?width=1142&format=png&auto=webp&s=aaa1cc0a4710a42d9e114729c9df0f290ffed2cb</a></p> <p><strong>Within a single minute of Vitalik tweeting about it the Shitcoin pumped +3000%</strong> and... it already sold off again. ( suprised pikachu face )</p> <p>This gives me some strong Squid Game token vibes. Creating a crypto based on a trend, let liquidity build up and people pump it up, proceed to dump your entire bag and drain entire liquidity out.</p> <p>Arguably you can say that "oh but it's already up so those buying early profit out of it" Yea but at the same time 999/1000 people are the exit liquidity after doing so. Crypto is full of pump & dump schemes and every day there's new coins being created causing hype, whales manipulating them and scamming people at the end.</p> <p>Watch out in what you invest! And always remember - we are in the middle of a bear market. Top crypto are on a fire sale right now. Might be a better idea going for a 2-10x on a solid project then trying to find a 100-1000x between tons of scam coins.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/TarkovReddit0r"> /u/TarkovReddit0r </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/y6js30/the_madness_of_the_crypto_community_how_a_vitalik/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/y6js30/the_madness_of_the_crypto_community_how_a_vitalik/">[comments]</a></span> </td></tr></table>