3/ At TGE, one wallet funded by OKX used Multicall3 to fund ~100 fresh wallets
Each wallet:
> Sent BNB to 5 fresh wallets
> Received millions of $BEAT from team wallets
> Sent their tokens to CEXs over time
https://t.co/jHCvWBoFtQ
$BEAT is now at $9bn FDV
The only scam coin that went close to $10bn without going to $20bn FDV was RIVER, but it was already extremely volatile and trading with very negative funding rate.
All the other ones went to $20bn => MYX / COAI / AIA / RAVE / LAB
Obviously, the sample is very small and there is no rational reason to expect the pattern to repeat.
But $BEAT has trapped a lot of shorts by being almost up only from $1 to $9, and funding is still not negative, I just have a hard time imagining this collapsing here without going full scam mode.
(As usual, never short a scam coin without a strict invalidation.)
This is insane !!
Crypto can’t grow with these shit projects doing shit things like this!!
All the main CEXs and DEXs behind the $BEAT scam pump are PancakeSwap, Binance, Gate, MEXC and KuCoin.
Every single one of these CEXs is known for orchestrating massive pumps in the past.
This is one of the biggest reasons why no coiners think crypto is a scam.
This week it's $BEAT's turn for the crime
Same playbook every single time
Pump with no fundamentals, controlled supply, retail buys the top, dump within days
This is becoming the norm in crypto and it should concern everyone
We complain that institutions and regulators do not take this market seriously
Then projects like this get listed, pumped and dumped on retail in 72 hours and we act surprised
How is anyone supposed to take crypto seriously as an asset class when this happens on a weekly basis
The damage is not just to the people who lose money
It is to the credibility of the entire industry every single time this happens and nothing changes
When does this stop being normal?
BREAKING!!!!!
✅It has been confirmed that funds from the $BEAT were to be transferred to Iranian-backed terrorist groups, and that UAE and Saudi authorities have launched an investigation.
YESSS... CATCH the fraudsters and terror supporters!
#beat#beatusdt
$BEAT
@Audiera_web3
Detailed report sent to Saudi-UAE authorities. Criminal proceedings are expected to begin against all elements involved. Cryptocurrency exchanges will also be investigated. UK-US are next. #beat#beatusdt $BEAT #scam@Audiera_web3@coinbase@binance@kucoincom@MEXC
@Audiera_web3 $BEAT is a known documented scam project lol
- Manipulation pattern is visible on the 1hr
- They've never posted proof of revenue
- Dumped 100%+ in the last pump
- Top 10 wallets own 85% supply
- Has a super low float
It literally has every ingredient for being a scam.