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The WAXP token false positive harvesting case is a highly representative false information pump and dump scam in the cryptocurrency circle, with hidden tricks and large-scale harvesting, causing countless retail investors to follow the trend and suffer deep losses.

As the native token of the WAX blockchain, WAXP focuses on the gaming and NFT ecosystem track and has certain market attention based on the popularity of the track, which has also become the basis for the breeding of scams.

To profit from the speculation of token prices, the project party secretly teamed up with multiple institutions and industry KOLs to carefully fabricate heavyweight news that WAXP has reached cooperation with globally renowned gaming companies, while widely spreading false good news through various communities and self-media platforms, claiming that "the token will officially access the trading scenarios of cooperative gaming items, with commercial value significantly enhanced, and market value expected to double," precisely grasping investors' high expectations for hot tracks, inducing retail investors to follow the trend and buy in.

After the false news quickly fermented, a large number of retail investors believed it to be true, concentrated on buying in, directly pushing the WAXP token price to rise rapidly, creating the illusion of strong appreciation of the token. Meanwhile, the project party and cooperating institutions had already hoarded massive amounts of WAXP chips in advance, and when the coin price rose to the preset high position, they quietly sold in batches through multiple anonymous related accounts, with the entire operation hidden without triggering market vigilance, ultimately successfully cashing out hundreds of millions of dollars. Once the funds were harvested, the well-known gaming company that was falsely cooperated with discovered the related rumors and immediately issued a public statement to clarify, clearly stating that there was no cooperation or association with the WAXP token and its affiliated projects, and the false good news was thoroughly exposed.

Once the news broke, market confidence instantly collapsed, and the WAXP token price began a cliff-like plunge, with a cumulative decline of over 80%. Retail investors who had followed the trend to enter the market were unable to stop losses in time, and the tokens in their hands significantly depreciated, leading to being deeply trapped and suffering heavy financial losses. It is worth noting that the project team has a history of disregarding investor interests, having previously expanded the total amount of tokens privately without public notice, leading to a 99.9% price drop within two hours after the token went online, with prominent issues of dishonesty.

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钻石老三

Brothers, help Diamond Old Three break 20K, and there are red envelopes to be given! Follow along #加密市场反弹

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钻石老三

Brothers, improve a little bit every day, and you will eventually see the light! #加密市场反弹

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