A Culture of Exploitation
Crypto Twitter, once a hub of crypto innovation and emerging opportunities, has devolved into a cesspool of deceit. It’s now a space where market manipulators and fraudsters prey on unsuspecting investors, orchestrating pump-and-dump schemes with zero remorse. Influencers and anonymous accounts behind these scams weaponize social media hype to fatten their own wallets, leaving you — the retail investor — holding a worthless bag of tokens. What’s happening here is not just disgusting and unethical — it’s financial exploitation on a massive scale. This is market manipulation at its absolute worst, and it’s becoming frighteningly common.
The Pump-and-Dump Cycle: A Scam Disguised as Opportunity
Let’s be brutally clear — pump-and-dump schemes are deliberate and cynical. Here’s how these crooks work:
Pump: These manipulators secretly buy large amounts of obscure or low-liquidity tokens.
Hype: Using Crypto Twitter, Telegram, and Discord, they flood the channels with baseless hype — “next big thing” or “you’re missing out!” Sound familiar? It’s all nonsense.
Dump: When enough people are duped into inflating the price, the manipulators sell off their shares in an instant, collapsing the price. You’re left with nothing but losses. A few days later, Onchain investigator Bubblemaps revealed that Jason Derulo had sold off his $JASON token holdings
This isn’t some accident of volatile markets. It’s criminal, and it’s happening all the time.
How Low Can They Go?
Take the SafeMoon debacle as a prime example. It was hyped as a revolutionary token, aggressively promoted by influencers like Jake Paul, Lil Yachty, and Soulja Boy. For months, Crypto Twitter was ablaze with promises of massive returns. But what followed? The inevitable crash — where early promoters and influencers pocketed millions, while the retail investors who trusted them were left financially devastated, holding dumped tokens. Does that sound like a fair market? Not even close.
And don’t think for a second that these manipulative schemes are exclusive to the Wild West of tokens. Just look at the SEC’s 2022 charges against eight social media influencers. They manipulated stock prices, not just crypto, using Twitter and Discord to pump prices, then secretly sold at the peak, raking in $100 million. Their followers? Financially ruined.
This is a rampant problem that crosses markets, but Crypto Twitter makes it worse. Its anonymity, lack of regulation, and endless hype create a breeding ground for market predators.
The Serial Offenders: Who Are These Monsters?
Let’s not mince words — these aren’t one-off scams by amateurs. We’re dealing with serial offenders who consistently launch fraudulent tokens, hype them across social media platforms, and leave you to suffer the financial fallout when they crash. In 2023 alone, one individual launched 81 different pump-and-dump tokens, pocketing over $800,000. They didn’t just destroy lives once — they did it repeatedly.
The fact that this person remains free highlights the utter failure of current regulatory frameworks to address and halt this predatory behavior in the crypto space. This isn’t a fluke; it’s a systemic issue.
A Platform for Manipulators
What makes Crypto Twitter such a breeding ground for this rot? Here’s the ugly truth:
- Anonymous Shills: These manipulators hide behind fake names and avatars, so there’s no accountability.
- Zero Regulation: With little to no oversight, these criminals operate with impunity.
- Influencer Greed: Big-name influencers shill garbage tokens to their thousands of followers, collecting cash from the project creators to hype tokens they know are doomed.
This isn’t just unethical — it’s predatory. These scams depend on the gullibility and hope of regular investors, people who believe the hype and end up bankrupt for their trust.
It’s Time to Wake Up
If you’re still buying into these hype cycles on Crypto Twitter, it’s time to stop. The platform has become a breeding ground for market manipulation, pump-and-dump scams, and outright theft. And if regulators don’t catch up soon, the only ones left in the crypto space will be fraudsters and their victims.
Don’t fall for their tricks. Do your research, question the artificial hype, and protect yourself. This isn’t just speculation anymore — this is survival in a market built on deception.
Paraea is an analyst with a rich background in finance, having worked at various research firms where he gained deep insights into investments and corporate strategies. Now, he blends this expertise with a unique perspective, crafting content for those venturing in finance, tech, or crypto. For more information check out ascendant.finance or join the Discord.
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