Dummy WallStreetBets Crypto Pumps Telegram Group Dupe Investors In $2 Million Scam
Bhushan Akolkar, 05 May 2021
The altcoins market is bustling with new all-time highs and crypto scammers are once again round the corner. Members of the popular WallStreetBets Reddit forum were recently targeted by a spammy and dummy Telegram group duping investors of $2 million in losses.
In the latest crypto scam, a dummy Telegram account dubbed ‘WallStreetBets Crypto Pumps’ swayed investors on buying the new token called WSB Finance even before its listing on the exchange. This Telegram account is in no way linked to the infamous Reddit stock board WallStreetBets responsible for the GameStop (NYSE: GME) earlier this year on Wall Street.
The Telegram spam account coaxed buyers by saying that it was a pre-mine sale of the WSB Finance and that they would benefit from cashing out in the latest crypto market rally. As we know, there’s some solid rally in the altcoin space in recent times and even some lesser-known altcoins are giving outsized returns.
