FOMO

ZachXBT

Popular blockchain investigator says the firm’s leaked report shows “highly questionable services.” 
Blockchain sleuth ZachXBT called out Gotbit, a crypto market maker, for offering dubious services as the list of the firm’s services became public. In an X post on Sunday, Sept. 24, ZachXBT <a href="https://x.com/zachxbt/status/1705963930479210816?s=20" target="_blank">posted a screenshot</a> of Gotbit’s services, which the firm is ready to offer to its clients. 
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 I would be weary of any projects you see working with the market maker <a href="https://twitter.com/gotbit_io?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@gotbit_io</a> as a leaked report shows highly questionable services offered. Gotbit claims: “During the first minutes in the price discovery stage we are going to push the price up to 10x to create FOMO and… <a href="https://t.co/ndvrNlG3VW" target="_blank">pic.twitter.com/ndvrNlG3VW</a>— ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1705963930479210816?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">September 24, 2023</a>
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According to the leak, Gotbit is capable of pumping a token’s price “to create FOMO [fear of missing out]” in order to reach “extreme Xs and sell maximum tokens on the subsequent spike.” Gotbit claims its clients have been successfully listed on OKX, Bybit, and KuCoin. 
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 Allegedly Gotbit’s leaked report | Source: X
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 You might also like: <a href="https://crypto.news/cream-price-skyrockets-60-pump-and-dump-scheme/"> CREAM price skyrockets 60% in an apparent pump and dump scheme </a> 
Crypto.news couldn’t verify the authenticity of the report. As of press time, Gotbit made no public statements on social media regarding the matter. 
Gotbit has been on the market for a while now. According to <a href="https://www.crunchbase.com/organization/gotbit" target="_blank" rel="noreferrer noopener">Crunchbase</a>, the market maker was co-founded in 2017 by Alex Andryunin and Iuliia Milianovich. The firm’s description says Gotbit “provides a platform-based solution, bringing back control of the markets to the founders of the project.” 
In July 2019, Andryunin <a href="https://www.coindesk.com/markets/2019/07/18/for-15k-hell-fake-your-exchange-volume-youll-get-on-coinmarketcap/" target="_blank" rel="noreferrer noopener">admitted</a> his business “is not entirely ethical.” At the time, Andryunin said Gotbit would wind down its market-making business, citing difficulties posed by a strict customer identification processes. 
As of press time, Gotbit’s official website, in the “our friends” section, lists multiple well-known crypto exchanges and venture firms such as Binance, OKX, Crypto.com, a16z, Gate.io, Bybit, Enjin, and others. However, it’s unclear if these companies have any ties to the Lisbon-based market maker. 
 Read more: <a href="https://crypto.news/former-celsius-executive-pleads-guilty-to-price-manipulation-charges/"> Former Celsius executive pleads guilty to price manipulation charges </a>

Blockchain investigator ZachXBT slams Gotbit over controversial services

crypto.news

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