Hi guys,
I have allready made a post about groups on telegram who "pump and dump". I have watched this process today from close distance. Today their target was Vericoin.
They gather a big group of people telling them they will pump up a coin, asking them to spread the word. Then they set a date and time on which they will reveal the coin to pump and dump. Claiming that you can buy in low but sell high. They'll send you the link on which you can buy (not noticing it's allready gone up for like 150% or more). When you buy, you buy at high costs, and it's far from sure it will go up even more, and how much.
At the time the coin is at his peak, all the guys who set it up are selling. They make like 150-250% in just a matter of one hour. You, who is thinking he's gonna make profits, will make a loss. How much, depeneds on when you sell, but I saw it happening just an hour ago.
I have made a blog with a warning, please don't fall for these kind of scams. If you have questions, let me know! :-)
Cryptonewbi