In crypto you better verify your source or feel the burn.
So earlier today on the @substratum twitter Huge news was tweeted out that would have shaken the whole cryptosphere.
Being the first ERC-20 token on coinbase would place them on a platform that could not be touched. Everyone was super excited and it really showed in terms of price action on the exchanges.
So the question is, with news like this why would the price take such aviciouss downward spiral so soon after the announcement hit? Usually there is a small correction followed by even more buying. That was not the case in this instance and it was for good reason.
They are claiming to have been hacked and that the information tweeted was false. This is ironic, how can we expect them to secure our network if they cant secure their own twitter.
If you go through the Twitter you will find tweet of people who lost money buying into the hype and falling into full blown FOMO. I really like the response of the last guy in the string.
At the end of the day losing money in crypto is not like losing money in monopoly. There are real ramifications and everyone should be vigilant of their investments. Hope this is a lesson learned and something not repeated.
Follow me @crypto2crypto
Sucks for the guy who lost it, but Mr. Sabbithi and you are both right. I tend to be more careful with my crypto then with cash, because unlike money in my wallet crypto has the potential to grow or shrink, or even be stolen without me ever touching it. I don't think everybody thinks about it before they make rash decisions. So I think this is a very fair message and a great warning to give to people. I hope it serves as a reminder to everybody. And I think if it helps prevent one guy or girl from making a rash or quick bad decision then it is definitely worth you spending time on to put it out in our community. It is a very thoughtful warning for you to give everybody. So as always my man thank you. And I send all my love your way and asked for our creators blessings for you and all of yours.
OT: I have a surprise for you. ☺ It isn't much and it isn't money. But you'll know when you get it. To someone of your magnitude, It may not amount to much, but I do hope you enjoy it. Consider it a token of my gratitude and appreciation for you.
Always insightful and much appreciated. I noticed you speak of our creator. So I assume you are a believer?
I believe we were created. I can look at a basketball, and tell it was created. So naturally I look at something like a human and I figure it's also got to be created. Personally for me that one's a no-brainer. But maybe I'm wrong. But I also believe that I were creator is love. I just think that this world and its ways and systems has gotten in the way of people's ability to connect directly to our creators love and allow it to flow through them to everybody else. I don't know, Maybe I just went too deep. I hope that I did not offend you. And if I did I do apologize. My grandpa always said if you want to pick a fight just start talking about religion or politics.
Am sure the team will release info on what actually happened. Tbf if anyone bought at 11000 just hodl and in afew weeks they will be thankful they fomo’d in 👍 feel sorry for people losing money but its no ones fault but their own
They will just have to hold and hope for the best. Better that then to sell at a loss.
This is a perfect example of price manipulation and fake news. Even if that news was true, I would not buy it after it came out. In many cases the price falls as you mentioned. I would wait for price to recover if anyone is interested in investing in it. This crash can be painfull to many people.
Yea sometimes you have to know when to let a train leave without you. To many opportunities to chase any one coin.
These people used people for their pump and sold their holdings🙏
No one told anyone to rush into a rising candle
You have to accept that you’ll win some and lose some in crypto! You can’t assume a gain. But I do agree with your point regarding it being real money! Because you can’t see it, people often treat it as imaginary money, likes trial trading account!
Incredible heist for pump and dump. Scumbags.
We posted it on Telegram immediately after it happened and was clarified by Substratum.
What did they say?
Justin Tabb has confirmed Substratum Twitter has been Hacked and the tweet was fake news.
Of all the tokens to target. Fat chance.
I already visited their twitter account...Many people are frustrated. And there is no doubt about it.
There is clearly showing in the pictuer below that one guy just loose his $2000 . how shocking is this!! how could their acoount hacked by someone else
I doubt they were hacked, good way to dump coins though.
It might sound harsh, but anyone who lost money on this alleged news deserves to lose money. Twitter, Reddit and Facebook should not be used as investment advice, even if it comes from a legitimate account.
People need to learn to fact check. In this situation, people could have saved themselves from loss by going and looking for an official Coinbase announcement, instead of a Tweet.
Another warning sign is Coinbase said a couple of months ago that all ERC20 tokens would be listed on GDAX first, and then chosen selectively to be added onto Coinbase.
Now I understand how fake news worked in the US presidential election in 2016. People are so gullible, they believe everything at face value.
No sympathy here either. If people would do proper research we would have less of this.
I agree but still feel sorry for those ppl. Crypto space is so packed with scams, pnd groups, mass manipulation. I wish all this were eradicated one day. Scumbags.
@crypto2crypto
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hahaha :p :/ WTF :/
how their account could be hacked :/