Caution Urged for Cryptocurrency Pump-and-Dump Schemes on Unverified Channels

A certain individual named Alexey Korobkin approached me with a pitch I couldn't be sure about. He claims to have a friend interested in joining CryptoCommons' stream, which offers signals for entry into new projects even before they are listed. The channel purportedly provides unique opportunities previously unseen in the market. I visited the channel and encountered Project #CELTIS, which claims that Coinbase and A16Z are already buying it, with a price at $0.0002, only to rapidly soar to $0.199, then plunge to an almost negligible value shortly after. I observed similar patterns with other projects like #BFI, where rapid price changes from tiny fractions to significant values tempted the FOMO, yet no transparent way to purchase the tokens could be verified. Despite numerous links and promises of exclusive early insights, it turns out that none of these tokens could be sold, and platforms warning about traps were evident. The recurring theme was relentless marketing emphasizing the "first to know" advantage, with high-quality graphics and style resembling top exchanges. Experiencing doubt, I investigated further and discovered that these tokens were untradeable, indicating potential scams. The engagement on these posts gradually declined, reinforcing the suspicion. In conclusion, a small investment was made in a symbolic amount of black caviar, a metaphor for the risk taken, but mainly to illustrate the situation. The primary takeaway: be extremely cautious with such ventures and protect your money against such schemes.