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Telegram Ring Ran Pump-and-Dump Network That Netted $800K in a Month: Solidus Labs
Source: CryptoNewsNet Original Title: Telegram Ring Ran Pump-and-Dump Network That Netted $800K in a Month: Solidus Labs Original Link: https://cryptonews.net/news/security/32115577/ A shadowy Telegram ring of seasoned “degens” has allegedly been running highly coordinated, multi-chain pump-and-dump schemes capable of pushing micro-cap tokens to seven-figure valuations within minutes, according to a new forensic investigation by Solidus Labs.
The group, dubbed PumpCell, has been active since at least late 2024 and specializes in manipulation of new tokens on Solana and BNB Chain.
Solidus’ analysis shows the ring orchestrating synchronized token deployments, bot-driven buying, fabricated hype campaigns and timed exits designed to unload inflated tokens onto unsuspecting retail traders.
“To frame the magnitude of the problem: here you have one random channel with (only) a few dozen users from a small Southern European country… and it raked in $800,000 in total in just one month across just a few dozen pumped tokens that soon after lost all value,” Spyridon Antonopoulos, vice president of investigations at Solidus Labs told CoinDesk.