Ok, I'm not the watch dog for #PulseChain, that's way too much on one guy. But here is a quick note on how to spot/avoid a rug pull on any chain using @dexscreener
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1) On dexscreener, filter to your favorite chain. There are 7 scam tokens in top 22, with obvious red flags.
@dexscreener 2) click into one of the top volume scammy looking tokens. On this chart, on 5 minute scale, you can see 99% of fake volume is in the first bar.
3) here's another. Fake volume gives the impression that it's popular and safe. Crowd loves a crowd. This scam is being observed on several top chains.
4) check the token details on block explorer. Verify the legit contract address and look for token holder tab. 98% tokens in one wallet is obvious red flag.
5) the contract is written so that you can buy (exchange your valuable asset), but you can't sell (you're stuck with the valueless asset). All liquidity is rugged. Price goes to zero.
6) this just one type of scam, and it's the most popular right now (it's working well for the bad actors.) Don't deposit your money into someone elses "checking account".. verify everything and don't FOMO.
Oh, and this is how you can easily check out the token details:
7) I've been referring to wash-trades lately on BSC and Arbitrum. Turns out this is a massive scam. Question is.. who's behind it and how long will it last?
This is a look at BSC, the top volume leader today is a scam, and 4 total in top 15.
Here's that #1 volume leader on BSC, launched 9 hours ago, fake $29.2m volume in first minute to generate "it looks real", then buys roll in from noobs, with no possibility of selling, then all $USDT pulled from LP. On to the next scam for the "NOMAD".
8) And for all you babydoll munchkins, here's @yourfriendSOMMI to give you a guided tour 🧁
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