Guide : Pump groups are scam
The cryptocurrency boom allows more people to show interest in investing. A consequence of this boom is that they also increase the number of scammers and groups with the promise of making you double your money, they offer up to 1000% of profits.
How does a pump group work?
- They gather a large number of people (innocents and novices)
- They schedule pump date, but they never say the coin.
- The group of scammers privately buy a good amount of a coin.
- After buying low, the scammers leave sales orders, well above their value that they bought (it is logical).
- The day of the pump they make people buy that coin they have worked in private (and that they are going to sell) obtaining great profits.
- The people who bought that currency will then see its value go down, and the scammers kept big profits.
Do not fall into these groups that are scam.
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