Combatting Pump and Dump Schemes: How Oort Cloud Bull is Leading the Change
In the volatile world of cryptocurrency, pump and dump schemes have been a recurring issue, plaguing both new and experienced investors. These fraudulent practices, where the price of an asset is artificially inflated (“pumped”) only to be sold off for a profit, leaving other investors in the dust, have cost the global crypto community billions. At Oort Cloud Bull, we’re not only aware of this problem—we’re actively working to eliminate it from the industry.
The Pump and Dump Problem in Numbers
A staggering $7.7 billion was lost to cryptocurrency scams, including pump and dumps, in 2021 alone (Chainalysis). According to further research, at least 20% of new crypto projects in the last few years have been implicated in pump and dump tactics. This malicious practice hurts investor confidence, damages the reputation of legitimate projects, and creates an environment of distrust within the market.
With over 2,000 pump and dump schemes identified between 2018 and 2020, it’s clear that these fraudulent actions are a serious issue. However, at Oort Cloud Bull, we believe there is a way to change the industry for the better.
The Change Oort Cloud Bull is Bringing
At Oort Cloud Bull (OC-B), we’ve taken decisive steps to build a better, more transparent crypto environment through our Pump and Dump Prevention Association (PUDPA). This non-profit, funded by Oort Cloud Group and supported by our passionate team, is committed to educating the public on the risks of pump and dump schemes and implementing best practices within the crypto space.
Here’s how we’re tackling the problem head-on:
1. Transparent Financial Practices – OC-B will manage token sales and investments with an unparalleled level of transparency. All early-stage investor purchases will be accompanied by token locks, and team tokens are gradually released to prevent any price manipulation.
2. Locked Supply, No Token Burning – Unlike many tokens, OC-B has a fixed supply. We do not burn tokens or create additional ones, ensuring price stability through genuine demand for our services. The utility of OC-B in advertising and media services keeps the token’s value supported by actual use cases within the Oort Cloud Group ecosystem.
3. Creating a New Exchange – We are developing an exclusive crypto exchange that will strictly prevent pump and dump schemes. This exchange will feature a robust Code of Conduct, high standards for listing projects, and additional security measures. Projects looking to run presales on our platform will need to prove themselves successful beforehand, making it harder for bad actors to infiltrate the system.
4. Public Voting Rights – In a bold move for transparency, OC-B will allow public voting rights on decisions related to token management. This governance model will give power to our community, enabling token holders to have a say in the future of the platform.
Oort Cloud Bull’s Role in the Future of Crypto
Oort Cloud Bull’s goal is to reshape the way cryptocurrency is perceived by creating a sustainable and trustworthy ecosystem. Our platform, backed by a robust Pump and Dump Prevention Strategy, will be a beacon for ethical practices in the crypto space.
Our exchange will focus on long-term success, and projects listed must demonstrate wealth and credibility before being approved. By setting this precedent, we aim to reduce the chances of pump and dump schemes and protect investors.
At Oort Cloud Bull, we’re not just launching a token—we’re building a movement towards a safer, more transparent future for cryptocurrency.
Join the Revolution Against Pump and Dumps
The time for change is now. To learn more about our mission and how Oort Cloud Bull is tackling these challenges, visit our official website at oortcloudbull.com.
We believe that by working together, we can create an environment where both projects and investors thrive, free from the manipulative practices that have held the industry back for too long. Join us as we pave the way for a new era of crypto accountability and transparency.