Reddit WallStreetBets Membersforum were targeted in a likely cryptocurrency scam that could have left its victims with at least $ 2 million in losses.
Using the Telegram messaging service, an account called “WallStreetBets – Crypto Pumps” offered users the option to purchase a new token known as WSB Finance before it was listed on crypto exchanges, in which this is called a pre-mine sale. The account is not affiliated with the infamous Stock Board.
The conditions are right to convince buyers to send money, no questions asked, with the promise of profiting from the latest cryptocurrency boom. So-called alt-coins show daily earnings that can exceed 1000% and there are few obstacles to stop malicious individuals from creating tokens to be touted as the next hot thing on the digital investing frontier.
The account executing the sale told users to send Binance Coin, known as BNB, or Ether to a cryptocurrency wallet, and then contact its “token bot” on Telegram to receive WSB Finance coins.
These parts were never delivered. A second message was then sent to Telegram telling those who had already sent a payment that due to an issue with the bot they would have to send an equal amount again or they would lose their initial investment.
Now thousands of people are turning to Telegram to express regret and try to track down the person (s) behind the account.
More than 3,451 Binance Coin tokens were removed from the wallet listed in Crypto Pumps messages on Tuesday, according to data fromBscScan, a validator on Binance Smart Chain, a blockchain network that runs so-called smart contract applications. At Binance Coin’s current price of $ 625, that’s over $ 2.1 million and doesn’t represent any Ether the account may have been sent.
Binance did not immediately respond to requests for comment.
WallStreetBets moderators posted two weeks ago to be wary of any offers that might try to use the name of the forum to attract an audience. Thisthe thread is currently pinned to the top of the forum.
The “WallStreetBets – Crypto Pumps” account has since been deleted from Telegram, but the one controlling it left those awaiting their payments with a clue as to where the funds were going:
“Buy lambo now.”