0.1 ETH to $30M in 46 days

bscscan.com

22 points·undefined1··12 comments

Ah yes, the SAFEMOON literal Ponzi scheme. Beautiful.

Number go up, number go down. But damn, look at that chart https://coinmarketcap.com/currencies/safemoon/. It’s one of the cleanest looking pump-and-dumps I’ve ever seen.

This is not something to celebrate or condone. A lot of people who don’t know better are losing their savings trying to play along with the hype.

See https://stockhead.com.au/cryptocurrency/this-is-a-scam-crypt... or https://www.benzinga.com/markets/cryptocurrency/21/04/207213... for more.

Exactly. That is a text book example of a pump and dump ponzi scheme.

This gives the SEC another reason, to 'protect' the retail investor by introducing regulations for cryptocurrencies.

So from here, I know that a lot of investors will become expensive bag holders from this. Just like the Bitconnect scam in 2017.

Sad sad day. Cryptos need regulation bad, quickly...

...which would kill them.

Investors need education. Which might hurt - but won't kill them.

This is inscrutable to anyone not familiar with whatever that site is and the underlying systems and terminology.

Someone should write a blog post or something to explain it, then link that here so we can all be in awe, or outrage, together.

Either way I think I have seen more than my fair share of 'this person got absurdly rich absurdly quickly doing absurdly little work' content recently.

Can someone explain how it was done?

Looks like they bought and sold the safemoon defi token (bought really low, sold [comparatively] high)

I’m confused. At what point did they convert it from crypto to USD?

https://bscscan.com/address/0x8c7de13ecf6e92e249696defed7aa8...

Probably somewhere in here.

Such a clever movement. That is beautiful of blockchain.

ELI5: what happened here?

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