The Pump and Dump Scams Are Getting Out of Control
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- Опубликовано: 17 июл 2024
- In the past few months, the influencer pump and dump scams are getting out of control. Adin Ross admitted to pumping a scam alt coin called MILF token. Faze Clan, Ricegum, and Logan Paul have all been associated with pump and dump scam coins.
This needs to be talked about more as pump and dump scams are illegal in the stock market, but not illegal in the cryptocurrency markets since it's not regulated.
INSTAGRAM
/ spencercornelia1
Sources:
Bloomberg.com - "Crypto Scams Rug Pulls..."
tokensniffer.com/
TIMESTAMPS
0:00 - Intro
0:59 - Rugpulls
1:23 - First Influencer Scam
5:29 - Spotting a Pump & Dump
6:47 - Second Influencer Scam
8:40 - Token Sniffer
9:42 - How to Make Money From This
11:35 - Conclusion
Thanks for the shoutout man! Love watching your scam vids
Both of you guys are killing it 💪🏾 much love 💯
Keep educating these youngsters, give thanks for the work. Bless
Ayeee The Tan Supermannn
The 🐐 himself great to see u on point bout this bullshit my guy
Do all my favorite youtubers just happen to have a group chat and are all fans of each other? 😂🙏🏾
The disheartening thing is a lot of the victims are actually hoping they get theirs at the expense of the next guy. They actually know its a scam and hope it works but they end up on the winning side of the scam when the dust settles.
"insu-fuhk-ent li-ku..."
his friend got fed up and finished the sentence for him LMAO
How he got that from liquidity is still boggling my mind. It also helps me deal with being broke while these shitbags get rich. If he doesn't know what liquidity is, or even how to pronounce it , I'm pretty sure he'll be broke soon .
@@76biggdogg Mayweather can't read either..
@@gidd Mayweather was the best in his craft this guy not even mediocre.
What a douche!
@@76biggdoggWeird...how it plays out for some. The guy is a douche & he needs to learn English!
As a language learner, that "insufficient liquidity" clip made my day 🤣
Some 5 to 10 year jail sentences for these 'social media influencers' would quickly put an end to these obvious pump and dump scams. It's no excuse to say 'LOL! I was only joking! It's YOUR fault you bought the OBVIOUS scam!'
No it wouldn't.
Because of this channel I recognized all these pump and dump scams. Thanks for the uploads 🤣
I tried a pump and dump once. Nine months later, I became a father.
nahhh, you just beta bucks
And you got smart enough to avoid these crypto pump and dump schemes because you knew you had responsibilities and can't afford to lose money.
🤣🤣🤣🤣
@@joebloggs619 these crypto scammers are all over RUclips now. One of the scammers posts comments how a certain trader has made so much money for them and gives their contact, I was foolish enough to fall for it but found out in the beginning so luckily lost only 100 bucks but have heard so many lost thousands.
@@LillysConner be careful, almost all (if not all) of those comments are just botted comments. That’s why I always avoid anyone promoting a service like that in a comments section, especially if it’s too good to be true
Glad I found your channel! My dad told me about you and honestly your page deserves a million subs! Thanks for bringing awareness and telling the truth about all these "get rich quick schemes"!!
I hope you got the job lol
Both of you guys are creating great content , thank you for your hard work 😊🙏
I would’ve hired him immediately 😂
Not sure whether to be disappointed in the influencers or the people buying these coins.
I think you should be disappointed at influencers. It's like I become.friend with someone and then steal things from his home.
Both, honestly. At this point we've seen this same scheme time and time again. People need to understand that you're buying coins from someone else, when you sell your coins it's to someone else. If you buy low and sell high, you are the winner and someone else is the loser. Getting rich quick is at the expense of others.
@@aleterra but you wouldn't become friends with a stranger you watch perform on your high street few times a week.
The people falling for these scams are uneducated and or plainly stupid.
@@genemechanic6773 I won't be that charitable; a lot of it is greed.
If someone's educated enough to understand percentages, they're educated enough to know when they're not legit.
Why shouldn't you consider the option, "Both", I think that is the most accurate option.
Keep applying that pressure to these scam artists cause someone has too. You the man Spence!
I'm glad you make these videos bro, it really enables me to make more positive financial decions as well as properly transitioning to digital. 👊
Tried pump and dump. Didn't really work, I ended up being some baby's dad.
Welcome to the club lmao
Ouch lol
lmao at least you got something out of it
They wanted a unregulated and decentralized asset. They got what they wanted. No?
😂 my thoughts exactly
Yup we want unregulated and decentralised, so that we can transfer every single penny from poor to rich.
And this is a bad thing how? The point is people learn and these get harder to do over time.
there will always be evidence left in telegram groups, discord groups, the blockchain itself. crypto can be left as it is but the feds are already cracking down on rugpullers and pump and dump groups. win-win for everybody
No MILF token and tiktok idiots and pump and dumps are not what crypto is all about. Plus what part of penny stock pumping and dumping you’re not noticing? It’s also happening ever since this Robin Hood etc. but y’all sit around and ignore the tech and what’s gonna be the future 😆
I think it would be polite to link to the videos you mention.
Keep up the good work!
i like your videos (subscribed), very important topics - also thank you for recognizing that MM never was a p&d ( 9:10 )
Yoooo new Spencer video just dropped 🔥
I was so happy to hear Jamari's voice 6:46
Jamari.. hes dope af..
Mkhaya?
@@compton8301 Molo?
good info thank you
I'm a Financial Advisor by profession. What astonishes me is that I am HEAVILY regulated in what I can say in public about trading and investments. Basic suitability rules have basically placed all licensed financial professionals in a predicament where we can't say anything publicly or give advice. But some idiot on tick tock or 20 year old kid on instagram can go on and say anything without any recourse or attention from the SEC. The real professionals can't talk and you have to pay heavily for our advice and the people with no knowledge or experience can say anything
This shit made me laugh pretty frequently. That kid can't read lol.
Thank you for your support by the way.
Great channel.
the ads i had to watch before this video was one of the scammers you talk about.
The real winner is the exchange. They got to be charging something on the buy and/or sell.
All Finance channels are quiet now,your the only one going hard,...thank you
The real problem is the SEC and the Justice Dept are not doing their jobs . god knows why
Spencer is the Hero we need to combat these Fake Guru villains 👊🏿
Lol that thumbnail 🤣 Spencer "Coomer" Cornelia, perfect pic for a poomp vid
Let's Get it Spencer!!!
Thanks!
I just found your channel and I love it, reminds me of coffeezilla 👌
man, is that a HTML & CSS book under your mic,
sounds u getting into king's path
Interesting you mention scams. I'm a Jamaican and those spammy get rich schemes come up in the comment section of Jamaican youtube channels. I saw a fake account with your name and I was like, "hold up. What is an American finance youtuber doing here?" I knew it must be fake.
Can you make a video about AMC and GameStop to shed light on the stock market corruption black pools etc.
Just buy and hodl
@@Eagles2020 lol
That pump-and-dump joke was hilarious
Nice Video But The Whole Pnt Of The Market is To Get Out Once Other Ppl Push The Price Up. What Other Way Is Their To Invest?
Love to hear the laugh Adin makes when he gets jail time “a hahahaha”
😂
as always spencer sick video dude crazy how fast this channel has grown (: these videos keep me entertained since i cant leave the house do to meniscus surgery
Hey, nice picture ;) I think you might be my long lost twin . Hope you heal up soon brotha !
@@76biggdogg thanks :) pepe for life
Educational actions like yours are much more effective than trying to hunt and punish those people, because it's something widespread already and it's not going away.
Nah... they need to start punishing influencers and the creators of these scams with jail time and heavy fines. Once scammers realize they can be tracked and influencers realize they can lose their sponsors, things would change. As of right now, nothing happens to anybody.
Or when RUclips, Instagram and Twitch start to get responsible for these scams, then we would see them running to shut down these dudes (which is a scary solution, considering legit channels could be deleted due to an unoptimized algorithm).
Most of the people who are getting scammed won't ever find a video like this. It's nearly impossible to approach them (many have this cult mentality as well, so you will sound like a jealous hater for saying such things).
@@calamorta I agree that the platforms should be liable. They are good to annoy us with those COVID notices below COVID related videos, they should do the same with any financial content (and ADS). They don't do it because they profit handsomely from it, as well they probably profit with those world health organization ads below COVID related videos as well. In the end that's the world we live in. Mickey Mouse will only become public domain next year, if Disney doesn't lobby well enough to extend their exclusivity, and our light bulbs will always die before they need to, so we can keep burning money replacing things instead of improving our lives with it, and medical "treatments" replaced cures for obvious reasons. 😁
That jamari shout out 💪🏽
Love that you mentioned Jamari. Y’all should do a collab
I love your sarcasm
11:29 I thought this said "Ass Cams" for a second lol
Pump and dump among small RUclipsrs is out of control. Very sad.
Didn't expect Jamari here 😆✌️!
Another stellar episode, good sir. Spencer AKA the scammer slayer. 🤘
my boi Jamari is being noticed by other channels. that's fire
the Tan SuperMan shoutout!!
Plase talk about this so much more - more people need to know👏🏻👏🏻👏🏻 I think a lot of people regret missing out on the “bitcoin wave” and hope they can have similar returns now wth any other coins🥴
There was lot of pump and dump in ample forth token last year.
Was lucky to realize it and made few ks with 500bucks.
8:00 I was about to say that I dont think some of those people know that they are scamming others and they just are being told by some other people that " hey its good money, no worries, all is legit". :D
There is ransomware as a service. We are about the get pump and dump as a service you can buy.
Yup, and apparently there’s also fraud as a service
the government should tighten measures against cryptocurrency sсammers, at least close their social networks and put these people in jail.
Hard to prove
the scam groups scamming themselves at 10:30 is priceless :)
The problem with social media is that the specialist and the common dummy both have equal platform and their opinions are equally valid.
"if you gonna do something wrong, do it right"
Wow my favorite RUclipsr just featured my second favorite RUclipsr Jamari
RUclips has a feature in analytics that shows other channels/videos my audience watches. Jamari's routinely pop up on the list haha
Love it! Herd psychology and the "fear of missing out" It's why 90% of traders lose it all.
If they have a big enough following, they really do turn into self fulfilling prophecies, briefly, with lots of bagholders.
thats not what I wrote. if youre going to change my remarks, please dont post my comments.
Insa-fuk-int U made me laugh so hard man 😂
"Well, that's just like, your opinion Man"
The Dude
Abides
This Dude abides as well .....
It’s 2021 and people are still calling it “dodge” coin 😭😭😭
Everybody found out about Doge this year. You’re acting like it’s 2053 and people have been pronouncing it wrong for decades. Lmao.
Why don't people just short the pump and dumps?
I've been saying that it's a tax on stupid. And I don't feel bad anymore.
What's the most sad is that it's influencers scamming their fans into scamming others.
Fact: Money Flow creates validation, regardless of its origin. And validation usually leads to delusion. These scammers need jail time for sure.
😂😂😂 I was done at his struggle to say insufficient
what do you think about hex and pulse chain?
Make a video on Axie, I'd love to hear your opinion
My boy Jamari!!
never been this early. I feel unprepared
" Pump and Dump " That's Some Dirty Business 💩
Influencers are willing to scam the individuals that are also the sole reason why they are currently famous/popular...
Ride the pump and then dump! 🤣🤣🤣 My mind is so dirty! Lmao
Gives me a headache, wish that there is a law that states as long as you promote the scam regardless and there is sufficient evidence which could include videos like this from RUclips a minimum penalty of 10 years jail and on top of paying the victims a $500,000 fine. I’d say make it costly to even be a scammer so that scammers will then need to decide if the risk is worth taking.
Shout out Jamari I watch both channels realest shiiii out here
Reminds me of RuneScape merch clans
Should’ve pointed out the fact that there’s UNLIMITED supply shows the true value.. unlike BTC there’s a LIMITED supply 🙂👌🏽
Subscribed
I love JAMARI Good work on this video bro!!
Suze Orman was the OG pump n’ dumper
"'m gonna buy some MILF" xD LOOOL
Good job, bro.
You should be paid for this if the case becomes and then returns funds.
And you feature Tim Sykes in the middle, that guy is a well-known botter and VPN shill account booster.
This is why you do complete research and make sure the coin is attached to viable projects like Decentraland. In the case of Shib Inu, they are completely honest about what their coin backs and makes no delusions about it being capped or apart of any project. I only invest a few dollars in the pump n dump coins and the majority of my extra money into real projects.
Didn't The Game get sued for doing something like this
I'd like to promote a scam. It's a boxing match scam where I criticize and belittle an influencer to get him to fight me, but once he agrees to take the fight I'm gonna act scared and regretful of my decisions. During this time his followers are gonna see me as an easy win for the influencer, therefore making his followers place large bets to see me lose. Then on the day of the fight when everybody is for sure thinking they're gonna win and I'm gonna lose......I drop him cold in first 37 seconds of the fight.
Why is this dude the Randle (Recess) of RUclips lol
WHAT do I do. I fell victim to SNPK and the stock was over valued i lost a lot of money. Ive been hoping the company does well but the company seemed to have vanished.
I used to think a pump and dump was something confined to your bathroom. Obviously not.
I love how the Ethereum gas fees were too high LOL
So lesson is, don’t invest in any crypto? It could be a unregulated scam?
Imagine listening to an Influencer instead of your own self on what to buy 😒
It’s hilarious to read the comments of the bag holders after the said asset has dumped. “tO tHe MoOn”
How can you say some of those punchlines with a straight face. I was dying when that ayden illiterate part came up.
Her definition of rugpull is wrong i think. She described a normal pump and dump. A rug pull is something specific to DEFI and doesnt even require the coin creators ever owning the coin. On DEFI you can farm for yield, by doing so you can earn interest on a certain token. The rug pull is when the smart contract where you lock your coins to yield farm is designed to send your coins to the creator. Or the creator changes the code after people are buying. Is slightly different than a pump and dump its worst, the pump and dump steals the value of your tokens because everyone is selling. A rugpull steals the tokens themselves.
Edit1: a rug pull can also be doing an ICO or any form of gathering funding and then proceding to not develop the project
why arent these people in jail ?
"plot twist" Spencer owns the whale forum. *GASP*
Just kidding Spencer's too good for this stuff.
Like tht foo Upshod. Damn!
Lol adin ross might have _“sufuckint”_ funds, but as far as intellect is concerned I’m not so sure.....😝
Lol I got a fake guru ad before this video.
I think that regulations will soon come.
Amen, big money control. But it’s 1% higher now then 8 months ago. It doesn’t move since 2020. It just flys all over, and lands in the same place.
"High school, college age" and even middle schools