3 steps of PumpKings Pump and Dump campaign

Step 1. Preparation

At the appointed time, the upcoming pump is announced by the pump organizers, cryptocurrency ticker and the exchange. All pump members (promoters) should start to buy it, increasing it's price.

Usually they prepare some significant reason. For example, the project has updated the service desk, or the site or anything else. Sometimes the cause is 100% invented within 2-3 minutes.

Step 2. Promotion
First buyers using their social communications spread the good news about the project. They already bought that coin. The second wave of pump begins, when promoters succeed and new investors has come. New investors push price higher and higher

Step 3. Dump
After price acceleration promoters signal the campaign was successful and it's time to fix the profit. Those, who are not prepared - lose money, cause sell stops work with big slippages

Bittrex and Yobit are among the top 3 exchanges, that are used by pump communities. Currently it's doesn't considered as fraud, cause no laws are broken

Next post would be about new Bittrex measures, aimed to resist such pumps. Make sure you've subscribed