Bitcoin & Crypto & NFT News
Discord chat group Bitcoin Bravado has been accused of scheming to create a cryptocurrency pump and dump scheme by a potential member who group leader now says has a “bone to pick.”
Discord Group Accused of Planning Pump and Dump Scheme
A potential member of the Bitcoin Bravado group has gone on to Steemit in order to expose what he says was a plan to create a pump and dump operation on a cryptocurrency token called Haven Coin. The accuser posted direct messages from a Telegram channel between members of the group who seem to be orchestrating a manipulation of the tokens price.
In the messages members of the group discuss how much Bitcoin will be needed to control 25% of trading volume, how long it should be held and when to dump it. One member even warns another about his use of the word manipulation who responds by correcting himself, rephrasing to “market making” and adding a smiling, sweating emoji.
The poster who goes by the name cryptomedication writes that he was being vetted as a member of the group and as such was invited to join their Telegram channel where he observed the messages that he eventually posted on Steamit. He opened his post by writing:
“The post that you are about to read may potentially shake up the entire cryptosphere.”
He ends the post by claiming that he has already contacted the SEC and FBI and that the group will most likely respond by saying that he is disgruntled because they rejected him and therefore “has an ax to grind.”
Bravado says Poster is a FUD Monger
Which is precisely the nature of the group’s response. Shared as a PDF on Google drive the open letter entitled Statement on slander article posted about Bitcoin Bravado claims that none of the people involved in the Telegram messages either write content for nor have ownership or equity in the company.
The PDF contains 16 pages of messages from the group’s Telegram channel as well as Tweets which proport to show cryptomedication was demoted from “analyst” in the group and then became unhinged and began making threatening statements to individual members and the group as a whole.
Whether this is a case of He said, She said or if there is some actionable evidence will be a matter for the regulatory authorities to decide. Pump and dump schemes are illegal and the SEC considers them securities fraud. The Comodities Futures Trading Commision (CFTC) even offers a bounty of 10-30% of monetary sanctions for whistleblowers who turn in subjects planning pump and dump operations.