InnerCobra350#1459 | 738917254200033280
Server ID | 846512821129707540
Pump and Dump scam discord.
Pump and Dumps are a scheme that involves manipulating the price of a coin to sell at a higher price. These groups promise you amazing 500%+ returns and to make you rich, however, they are lying to you and more often than not, you will lose money.
How is this done?
Pump groups often pump coins at a set time (for example 9PM) where no one prior to this time has access to the coin other than the pump admins. These pump admins go ahead and buy the coin slightly before the announcement (9:00:01). At around 9:00:07, the pump admins announce the coin to their members, their members therefore buy the coin and this increases the price of the coin. Due to this increase in price, the pump admins then dump their huge bags on their members which subsequently pushes the price down. Their members then lose money as the coin is lower than the price they entered at, therefore losing money.
The pump admins are the only people who make money during pumps - there are people who use bots for pumps, but even this is risky. Please be careful and we strongly advise never to enter any pump despite how 'fair' they claim to be.