Matic pump and dump or exit scam via Binance?

Today we awoke to see an epic dump from Matic which within an hour dumped from $0.043 down to $0.011. The coin currently sits at just under $0.02 following a brave recovery from the epic drop. One could predict this is the calm before the storm where the token takes another large scale drop.

matic pump and dump or exit scam via binance?

Matic is just the latest “high profile” project to take advantage of a Binance listing to rapidly pump to highs then tank down, in this case making another big pump before last nights fresh dump. Matic follows in the footsteps of other recent Binance cursed shitcoins: Fetch, BitTorrent Token, Celer, Wink, Harmony and the rest which all took advantage of the Binance Launchpad to pump hard then virtually die.

The saddest part is seeing all the Twitter shillers over the past few days who were calling for more gains only to see their poor followers crushed and ruined. If somebody shilled you this crap then unfollow them immediately.

But let’s take a look for a minute at the various posts going around Twitter with claims the Matic Network dumped 15% of the total coins into the market and the necessary denials from CZ and the Matic Network.

Matic founders dumping 15% of supply during pump run

There are numerous threads showing the Etherscan movements from the Matic founders to Binance prior to the big dump.

The originator of the 15% dump story has however since retracted his statement and apologised for starting the rumour:

Binance and Matic deny any involvement in the dump

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