FatMan Profile picture
Jul 12, 2022 9 tweets 4 min read Twitter logo Read on Twitter
Thought it would be fun to share a story from last year where I watched a friend of mine pump a sh*tcoin on Binance by buying billboards and a BitBoy Crypto video. Nothing we don't already know, but I found it fascinating to watch in real time. (1/9)
In our group chat in 2021, my whale friend told us to buy DOCK. He's a fairly small-time whale (I think he only had a few hundred coins at the time), so his coin of choice was a lower volume Binance coin (easier to pump & doesn't need to accommodate crazy sell volume). (2/9) Image
Over the next few days, he began explaining his strategy. He was in talks with BitBoy Crypto to buy a shill video (he showed me a rate sheet outlining several paid services BitBoy provided) and also planned to buy billboards & ads across the world to advertise DOCK. (3/9)
He posted pictures of things like the panel where he could purchase billboards, screenshots of his conversations with BitBoy's advertising manager, and various other avenues he was using to shill. He wasn't even a part of the DOCK team - he was just using it for a pump. (4/9) ImageImage
Sure enough, over the next few days, ads started popping up in London, NYC and Amsterdam. There were loads of lovely pictures he sent me but I can't find all of them. Also, lo and behold, the BitBoy video goes up a week later (7 June), which my friend said he paid $30k for. (5/9) ImageImageImageImage
There was no indication that it was sponsored in the title, description, or thumbnail, nor was there *any* visible disclosure in the visuals. There was no upfront disclosure in the beginning of the video that he was being paid to shill DOCK. (6/9)
However, he does very briefly thank DOCK for sponsoring the video (at 10:05 out of 10:30, when most people have already clicked away from the video) - very sneakily protecting liability. IMO, this info should at least be in the description if not the start of the video. (7/9)
In the days that followed my friend's message in the group chat, the DOCK charts started looking like this... Pretty insane. I witnessed before my very eyes yet another example of how manipulated - and easy to manipulate - crypto can be. Today, DOCK is down 80% since. (8/9) ImageImage
Other than the obvious message - don't trust these grifter influencers; they make money by selling you hopium - something else comes to mind. If some random guy did all of this with < $200k... To what extent could you manipulate a larger coin if you had billions? (9/9)

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More from @FatManTerra

Mar 28
🧵 On-chain data reveals the covert operations of a Binance listings insider. Over the course of several months, this anonymous individual front-ran the infamous Binance listing pumps of multiple altcoins, booking a 7-figure profit. And he left a trail for us to follow... (1/9)
Our story begins with the 0xd23 wallet - an address that is freshly funded with $53,000, and immediately starts buying FXS on Uniswap. The transactions are spaced out in smaller batches to avoid slippage and detection. The small buys continue for 6 days. (2/9) Image
3 days after the insider's final FXS purchase, like magic, Binance lists FXS, resulting in a large price increase. The insider then sends all of his FXS to an exchange, booking a healthy profit at the expense of fair market traders that didn't have asymmetrical info. (3/9) Image
Read 10 tweets
Dec 6, 2022
🧵 New blockchain data reveals the root cause of the May UST depeg. In the 3 weeks leading up to the depeg, one entity dumped over $450m of UST on the open market. 4 days after their last sale, UST started collapsing.

That entity? None other than Terraform Labs. Details inside.
This bombshell data, collated by the anonymous researcher @Cycle_22 (who discovered the Hodlnaut insolvency), reveals that TFL suddenly began furiously dumping hundreds of millions of UST only days before the depeg.
TFL has been perpetrating the narrative that UST was "attacked". This is a false flag. In reality, TFL themselves weakened the Curve pool by irresponsibly dumping a massive amount of UST in a short timeframe. This reduced liquidity and severely weakened the peg.
Read 18 tweets
Nov 30, 2022
🧵 For ideological reasons, I would recommend staying away from KuCoin.

Recently, KuCoin has unilaterally frozen client funds at the request of TFL. The accounts these funds were in did not belong to TFL.

This sort of behaviour is simply not okay and deserves reprimand.
I have no information about KuCoin's solvency, and the issue I've described above affects a tiny minority of customers. Regardless, I am ideologically opposed to exchanges being accessories to extortion from private parties, especially malicious actors like Do Kwon.
Freezing customer funds is only in the vicinity of reasonable when it is mandated by law. Period. Freezing customer assets because someone you are in bed with asks you to is not only not okay, but is deeply worrying, and should be categorically condemned.
Read 5 tweets
Nov 25, 2022
🧵 A verified insider has confirmed that FTX manipulated the Voyager assets auction in order to secure the winning bid. This was done to delay the recall of Voyager's loans to FTX & Alameda, which would have exposed SBF's fraudulent practices much earlier. More details below.
In September, articles citing unnamed sources were released describing CFIUS concerns with Binance's Voyager bid. Information has been shared with me indicating that these concerns were baseless, proliferated by M Group Communications, which was FTX's PR firm at the time.
Brian Brooks, scorned ex-CEO of Binance US (fired by CZ), who has been working with Reuters to generate hit pieces, is also on the Voyager board. He has coincidentally been receiving sweetheart deals with FTX, such as paid speaking gigs in the Bahamas. cryptobahamas.com/speakers/brian…
Read 6 tweets
Nov 23, 2022
🧵 Today, I'm sharing my long-standing theory behind a US government covert operation designed to partially crack Bitcoin privacy and deanonymize transactions. I believe that popular Bitcoin mixer ChipMixer is actually a United States government honeypot. Here's why.
I saw this tweet the other day, and a few projects that I've been observing came to mind. But ChipMixer is one I'm absolutely sure about, as it was created when the government was newer to crypto, so they didn't obfuscate the telltale signs of a honeypot very well...
The US government goes to great lengths to have access to flows of online information. This includes the ability to access history and private conversations on most social media platforms. For example, their warrantless internet surveillance rooms: en.wikipedia.org/wiki/Room_641A
Read 19 tweets
Oct 22, 2022
If anyone has funds in crypto yield platform Freeway, I would suggest withdrawing right away. I believe they are operating a Ponzi scheme. In my opinion, it's likely that Freeway will collapse within the next few months and that all depositors will lose everything.
I've been working on a longer thread but this short post will have to do for now. Reason being, I saw a few large withdrawals were being "delayed". Small withdrawals are still going through. I'll make a longer post later if necessary as there's a lot to dig into.
When this thing collapses (I'm certain it will by this time next year if not sooner) don't forget the big influencers who were complicit. Coach K brought over $10m in investments from his followers into Freeway & made tens of thousands in direct commissions from to-be victims.
Read 4 tweets

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