A new crypto influencer, DannyCrypt, has been reported for dump-and-pump scams and taking advantage of his followers. Through recent investigations by an on-chain sleuth, ZachXBT, DannyCrypt had allegedly received 2% of the supply of a certain token with the intention of helping with its marketing. However, only fifteen minutes later, he had dumped the majority of tokens for an $57K price amounting to 31 Ethereum. When questioned about his actions and why he choose to dump these tokens on his followers, DannyCrypt was unapologetic and even went as far as to threaten anyone questioning him to "cry on their timeline".

What do these accusations of DannyCrypt prove? It is another reminder to the crypto world of the dangers of trusting assumptions beyond ones own investigation. As the old saying goes: "Trust, but verify". And in the case of DannyCrypt, it is clear that this was an example of pump-and-dump that was done by an experienced and well-known influencer in the crypto space. Despite the fact that he may have had intentions of supporting the token in question, it also appears that DannyCrypt thought that he could line his own pockets with the tokens at the expense of his followers.

It pays to be vigilant in the crypto space and to put others ahead of oneself when investing. Apart from educating yourself and gathering more information about any investment, the power of personal research should never be ignored. It is those who do their own due diligence that often stand to benefit in the crypto arena. Understanding the motivation of certain crypto influencers and being able to confidently dissect the truth from the fiction can lead to better experiences with crypto investments.



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