Pump-and-Dump Groups
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Scammers create Telegram, WhatsApp, or Discord groups where they "share insider tips" about stocks or cryptocurrencies about to skyrocket. The group members (mostly bots) create excitement. In reality, the scammers have already bought the asset and are counting on group members to drive up the price so they can sell at a profit.
What to Watch For
- Anonymous "gurus" with no verifiable track record
- Focus on obscure, low-volume coins or penny stocks
- Group members unanimously agree the asset will explode (they're paid shills)
- Urgency to buy "before it's too late" or "before we tell everyone"
Examples
""Hey guys, we just got wind of a new coin called MoonShot (MSH). It's listed on 3 exchanges and about to be added to Coinbase. Get in now — this will easily 10x this week. Don't tell anyone outside the group.""
Why it works: Creates exclusivity ("don't tell anyone") and FOMO. The group chat is filled with excited messages from bots, making the opportunity seem real and time-sensitive.
What to Do
Be extremely skeptical of investment tips from anonymous sources in group chats. The SEC warns that pump-and-dump schemes are one of the most common forms of securities fraud. If someone is telling you to buy quickly, they're probably about to sell.