What happens when you join a Discord Pump n’ Dump group.

Ever got a DM that invited you to a Pump and Dump group?

It should be clear for most people that no one is giving out free money. But I was wondering how they try to take yours, so I joined.

Long story short:

They take your $ by setting up fake exchanges ([bit-tokens.com]( in this case, added for searchability). They give you the whole spiel about pump and dumps, link you to a Youtube video about how it supposedly works. The deposit you make to the “exchange” will go directly to the wallets of the scammers.

View Source

33 thoughts on “What happens when you join a Discord Pump n’ Dump group.”

  1. I usually discuss my problems with these scammers when they message me. Or sometimes discuss world events like mass shootings and abortion rights. Can’t refuse an offer for someone to listen to me for free and handle all my emotional baggage lol.

    Reply
  2. I’m following such a group that works with Kucoin. They warm you up with a countdown to the moment of the pump. And then give a pump signal ‘buy now’ and a few minutes after that ‘sell, sell, sell.

    But you are always late to the party. By the time you get the pump signal the price is already up 100-150%. They say that due to lag on Discord or Telegram.

    They have bought hours, or days before.

    Reply
  3. General rule of thumb. Unless you are one of the organizers… if you are joining a pump n dump discord group, you are most definitely in the “pump” group.

    The organizers will be dumping while giving you the instruction to buy.

    Reply
  4. Check the wallet tx of the coins. If you see hundreds of random coins you’ve found the pump and dump coin.

    Fun fact though if you track it long enough you’ll be able to find their next one before they “announce” it to the group and dump on them before they say to.

    Usually they are extremely sloppy with wallet history.

    Reply
  5. I ignore every unprompted out of the blue DM I get on Reddit. I assume it’s either a scam or spam. I’m not going to open up an attack vector for a potential bad actor.

    Reply
  6. I joined a couple groups. Never bought what they told me to, but did sell what I already had and they were pumping. So I ended up with some profit and bought back the coins with an extra discount.

    Reply
  7. Ah, yes, you are the guy who posted about the BTC scam with discord screenshot. Had the same “free” BTC scam but on the helium discord group.

    While it should be obvious for anyone with two living brain cells that no one will ever offer you free money, these posts are educational, good work. I guess particularly desperate pple could fall for it, maybe ? It seems, especially during the bear but even in general, that it is always good to be careful, even conservative, with something as speculative and “grey area” than crypto. I mean, Do Kwon hasn’t been arrested, isn’t it?

    Reply
  8. It’s a simple scam, over a few days the leaders of the group put money into the coin so as not to attract attention. Then they have a sell order at a reasonable increase. It’s a no brainer for free money for them. Some of them make you pay to hear sooner what the pump coin is. Fact is if your not on the inner circle of a pump group you will be in the 99% that looses money to them

    Reply
  9. Was this in whatsapp? I got the invite too. Kept changing contact but maintained group. I never shelled out 1 cent to it and observed.

    Reply
  10. The most common way the scams work is that there is a giant group of insiders who buy up the shitcoins months in advance, well before they start pumping it. When the pump starts, all of the people in the discord joining just become exit liquidity as the thing pumps.

    Reply

Leave a Comment