What happened:: This user today launched today a bounty campaign for a meme coin called XAY, allocating 180 SOL for this campaign. Participants are required to purchase the token and can earn 39% (refback/affiliation fee) by inviting new buyers. This is, of course, a high return designed to entice users, resembling a pyramid marketing scheme.
180 SOL Bounty pool:
Cost per action tokens purcHase (buyers attraction) based:
Get 39% refback|affiliation fee witH swap tx viDeo proof
few ways to get 39% Bounty fee:
Do viDeo your screen at XAY tokens own swap
ask attracted buyer do it
ListeD at Jup.ter
Four warnings have been detected for this new token:● Suspicious Dev Activity / Blockaid: Suspicious activity detected in this token's developer wallet.
● Not Verified: This token is not verified.
● Low Liquidity: This token has low liquidity.
● Low Organic Activity: This token has low organic activity.
As we can see in the attached screenshot:The liquidity is $0.742, which is less than one dollar and this indicates that no one will be able to sell it.
Also, as we can see, the only holders are the token’s DEV team.
Furthermore, as we can see, the DEV wallet purchased 12.1K tokens, which is a volume manipulation tactic to create fake buying activity and make the coin appear in the Trending section, and this also causes the green candle upward significantly even with a very small purchase. The team also conducts buying and selling among themselves to deceive victims into believing the token is rising and experiencing a price explosion.
Scammers Profile Link: https://bitcointalk.org/index.php?action=profile;u=3739137Reference Link: [1]
[Bounty 180 SOL] nft gift carDs Dapp [Have ListinK][2]
https://jup.ag/tokens/3YSS62oyNgy2Ry3i3pQoC861zM76sZkLFDt8S7SNjupxAdditional Notes: This project contains multiple warning signs that should be taken into consideration, and 80% of the tokens are allocated to the team
[Jupiter Studio], making them susceptible to a potential dump, despite the LP being locked and linear vesting.. Therefore, I do not advise anyone to buy this token or participate in the bounty campaign they launched.
