ALTCOIN PUMP AND DUMPS

Sadly, these are real, and happen daily with 'cryptos/tokens' other than bitcoin.

There are various iterations, but one of the most common types is the following:

Token Created: A new crypto token gets made. Far easier than it sounds, anyone can do it in minutes.

Website: Usually, a shiny, flashy website is created to make the token seem legitimate.

Paid Phenomena: People pay to advertise on social media, like Telegram.

Paid Inner Groups: Leaders of certain groups are given information, and these groups pay a monthly or yearly fee to access 'content'.

Pre-Launch: Leaders of paid phenomena and paid inner groups buy at the lowest price.

Launch: The token is released by these leaders, and they tell their followers, "Buy now!"

Pumping: Followers rush in early, causing the price to rise quickly.

The rising price encourages normal people to buy in, thinking it's a good investment.