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Friday, June 2, 2023

Bitlord’s Mong Coin: A Pump and Dump Rip-off

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Influencer bitlord7, who boasts a substantial following of over 300,000 folk, lately offered Mong Coin, a meme token constructed on the Ethereum blockchain. Taking part with a group of co-founders, he asserted that the token’s originate became as soon as conducted in an even contrivance, assuring that no tokens had been supplied by him or his mates.

Nonetheless, there exists evidence suggesting bitlord7 and his group’s involvement in a pump-and-dump plot. This form of investment fraud entails artificially inflating the rate of a security by orchestrating its remove, handiest to subsequently sell it off at an inflated mark, one way or the other leaving unsuspecting traders with gargantuan losses.

Relating to Mong Coin, bitlord7 and his group purchased a predominant quantity of tokens old to announcing the originate. Therefore, they proceeded to unload these tokens onto their followers and other traders after the rate had skilled a substantial surge. This pattern is clear in the sharp upward thrust in the rate of Mong Coin following its originate, followed by a like a flash shatter.

The aforementioned behavior aligns with the characteristics of a traditional pump-and-dump plot, and it’s wanted to live vigilant in converse to support some distance from falling victim to such actions.

Underneath, you will likely be in a position to gain the addresses and supporting evidence connected to these allegations:

– Tweets announcing their “intellectual” originate:

– Tweet 1: https://twitter.com/crypto_bitlord7/plot/1651243750369140738

– Tweet 2: https://twitter.com/mong_coin/plot/1651255660825448449

– Address that purchased nearly 2% of the total supply of Mong Coin, rate handiest $866, several hours old to the suitable originate tweet by the Mong Coin Twitter memoir:

– Address: 0x7bac46cFDb3995aa583Af4AC5187f1c9Dc41772D

– Quantity: $866

– Mong Coin Quantity: 11,956,446,024,186 tokens (

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