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.