Ethereum

ZachXBT

Million

PAAL AI

<ul class="list-ic vertical"> 
 <li> 1 <a>Four crypto traders involved in the PAAL AI Pump-and-Dump scheme were uncovered and accused by ZachXBT.&nbsp;</a> </li> 
 <li> 2 <a>The promotion of the Ethereum-based PAAL AI token on social media, after receiving from the project made all the difference.&nbsp;</a> </li> 
</ul> 
ZachXBT, a blockchain enthusiast and investigator, took to X (formerly Twitter) to uncover the four crypto traders who are actively involved in the PAAL AI Pump-and-Dump Scheme. The post was displayed with evidence alleging the participation of Trader SZ, Trader NJ, XO, and PetaByte in the scheme mainly used to spread false and misleading facts to make purchases.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
<h2 class="wp-block-heading" id="strong-what-does-the-pump-and-dump-scheme-mean-strong">What Does the Pump-and-Dump Scheme Mean?&nbsp;</h2> 
The continuous growth of the crypto landscape also increased the chance of scams and unethical practices. Cryptocurrency scams are continuously rising with time, creating more challenges for investors and traders.&nbsp; 
One such crypto scam is the Pump-and-Dump scheme which allows scammers to promote a project and persuade investors to make a purchase. The scammers are the project owners who essentially aim to drive up the token’s price before selling the holdings. Hike and hype in token demand due to false claims simply enhance the demand for the token in the market, offering massive profits to the token holders on selling the holdings.&nbsp; 
One such incident came into focus with the Ethereum-based PAAL AI token. Four crypto traders named Trader SZ, Trader NJ, XO, and PetaByte were founded to promote the token over the social media platforms, shortly after receiving the tokens from the project.&nbsp; 
The post of ZachXBT on September 11 revealed that all these four traders were supposedly involved in the Pump-and-Dump Scheme, aiming to earn more profit.&nbsp; 
ZachXBT has gained a respectable position in the crypto industry for uncovering fraudulent activities and scams.&nbsp;&nbsp;&nbsp;&nbsp; 
<h3 class="wp-block-heading" id="strong-why-is-zachxbt-so-sure-strong">Why is ZachXBT So Sure?</h3> 
A leaked message from the trader’s group on Telegram revealed all the truth.&nbsp; 
“All in all the team is expected to reach up to 2.67 Million organic followers” messaged PetaByte in the group. 
To report the same, ZachXBT attached an image in the post representing transactions between crypto wallets, mainly focused on the PAAL AI project. The blockchain enthusiast also revealed that Trader SZ begins promoting the received tokens on social media, shortly after receiving the same.&nbsp;&nbsp; 
As a result, PAAL AI’s price hiked from $0.0451 to $0.017 on August 10, 2023. 
The promotion of the token on social media platforms hiked the price of Ethereum-based PAAL AI tokens.&nbsp; 
PAAL AI, a token streaming over the <a href="https://www.thecoinrepublic.com/2023/08/13/creating-censorship-resistant-ethscriptions-on-the-ethereum-blockchain/" target="_blank" rel="noopener noreferrer nofollow">Ethereum blockchain</a> offers holders profit sharing and token buyback. The tokens can be used for staking, governance voting, and unlocking premium features. The current token price is $0.02311 with a market cap of $14 Million and 24 hours volume of $1.4 Million.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
<h4 class="wp-block-heading">Conclusion&nbsp;</h4> 
The post of ZachXBT reveals that Trader SZ, Trader NJ, XO, and PetaByte are involved in the Pump-and-Dump scheme involving PAAL AI tokens. The conversation between the alleged traders, the promotion of the token on the social media platform, and an upsurge in the token price in a few days represent the scam well. The price of the PAAL AI token surged from $0.0451 to $0.017 on August 10, 2023.&nbsp;&nbsp;

4 Crypto Traders Active in PAAL AI Pump-and-Dump Scheme Revealed

Table of Contents

Thecoinrepublic.com

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