The curious use case of ADD SLP token
You may have seen it on Reddit or memo.cash its promise to send dividends to any token holders EVERY DAY! That's huge right? Who wouldn't want a "free" token that would pay them some Bitcoin Cash. But wait the creator directs you to a link so you can buy the token from memo.cash with some of the proceeds going to the airdrops. If you get lucky enough or win promotional event you can get one for no cost.
In the beginning it seemed really promising dropping millions of Satoshi on holders. But if you looked closer something strange was going on.
Genesis November 4 2019 - 12 - total 12
Mint 2 November 4 2019 - 12 - total 24
Mint 3 November 6 2019 - 12 - total 36
Mint 4 November 7 2019 - 24 - total 60
Mint 5 November 9 2019 - 40 - total 100
Mint 6 November 11 2019 - 50 - total 150
Mint 7 November 12 2019 - 100 - total 250
Mint 8-15 November 16-30 2019 - 250 - 2,250
Creator - memo.cash user RoadTrip
First Airdrop Wednesday November 6th 2019 - 1.5 million sats - 36 tokens exist
7 days 1,000,000
Bonus Day: November 14th 2019 - 55,000,000 - 250 tokens exist/220,000 each Note this equates to about $0.43 a token.
2 days 2,000,000
5 days 5,000,000
2 days 5,000,000
Bonus Day: November 28th 2019 - 75,000,000 - 1,500 tokens exist/50,000 each note this equates to $0.11 a token.
Please see a screenshot of the BCH block explorer for the transaction for the Air drop especially the last 5 addresses. Or check the explorer yourself https://explorer.bitcoin.com/bch/tx/d2371de75faf95375a4acec912218b6ebb45b80592a9add1e02b27c7bb82721e
If you look through the 6 pages of sales many of the tokens are being bought by the same 4 or 5 users. Please note that some of these users may have just been caught up in it all some look to be in on it.
Hitler on drugs
What seems to be happening is a few users are buying up any tokens sold below a threshold to inflate the price.
Please note that **ShadowMan** has reached out to me on Memo.cash.
6 of these accounts only have the ADD token in its balance only 1 has over 5
I would ask that everyone look at the evidence and the writing on the wall. Anywhere in life if something is too good to be true it usually is. Always do your own research. Remember this is your money, know what your investing in.
What are your thoughts on the ADD token? Did you buy one? If so how much? Did you get one free? What did you do to get it? Post your comments questions and such down below. If you liked the research work I did please hit the tip button below! Here's hoping you can spot the scams.