Crypto pumping Telegram groups

By Sthappened | Sthappened's crypto stories | 14 Dec 2022

In view of the fact that the price of the cryptocurrency is determined by its supply and demand, some people found an original way, how to get rich on it.

What do they need?

The only things which they need are:

Telegram - which is free to use
Lots of people - they will come when someone will refer the group to them (there are some refferal rewards)
A cryptocurrency exchange - such as PancakeSwap
A dying cryptocurrency (token) - with low trading volume - they can create one for almost free in 5 mins

And that's all.

Why do people believe them?

They are making "pumps" almost daily, and they share the results with others. It might seem profitable, but it is not (for the most of users).

How does it work?

They create a Telegram group with some people who are refering others by the messages like "Do you want to make profits from only 5 USDT?" etc.

When they have enough people, they start "pumping".

The pumping works like that:

a) - with token creation

They create their own token (it isn't as hard as you may think) and they post it on the exchange such as PancakeSwap.
They start buying their own token from themselves, the token's value rises.
The people in the group see that the price goes up and buy the token from the people who created it.
The creators of the token get their money and repeat this cycle

b) - without creating token

If they have enough people (more than 5,000), they can pump some not well-known tokens.
They buy the token.
Then, they post a pump signal and the people in the group start buying it, so they can sell the token at higher price.
The price falls back down and the last buyers from the group have lost their money, whilst the owners of the group are in certain profit.
They repeat with other cryptocurrencies