$12.5B
FTC-reported fraud losses in 2024
FTC says consumers reported losing $12.5 billion to fraud in 2024.
crypto pump and dump group scam
Organized groups on Telegram or Discord coordinate mass purchases to inflate a low-cap token price, then sell their pre-purchased holdings at the peak, leaving latecomers with losses.
“bitcoin scam”
↑ 72%Key indicators
Usually targetsCrypto investors
Often hitsFreelancers and contractors
Common regionGlobal
Last updated2026-04-04
Estimated impact
$4.6K
median reported loss
Typical range$240 – $180K
Recovery rate~3%
Annual reports69,461
Scam breakdown
1
Organizers build large Telegram or Discord groups marketing insider knowledge and guaranteed profit opportunities
2
They pre-buy a low-cap token before announcing it to the group, who are instructed to buy simultaneously
3
As group members buy and the price spikes, organizers sell their holdings at the inflated peak, crashing the price
What to do first
Recognize that pump and dump schemes are illegal market manipulation — participants can face legal consequences
Related terms
pump and dump telegramcoordinated token pumpcrypto market manipulationCryptocurrency scamsTelegramStableCrypto investorsNew crypto usersFreelancers and contractorsTech workers and developersInvestors and tradersGlobalpump and dump telegramcoordinated token pump
Real-world example
How this scam plays out in practice
Based on reported patterns. Names and details are illustrative.
The setup
Jessica, 32, a crypto investors, encountered what appeared to be a legitimate cryptocurrency scams situation while using Telegram. Organizers build large Telegram or Discord groups marketing insider knowledge and guaranteed profit opportunities
Step 2
What happened next was calculated: They pre-buy a low-cap token before announcing it to the group, who are instructed to buy simultaneously
Step 3
The pressure escalated quickly: As group members buy and the price spikes, organizers sell their holdings at the inflated peak, crashing the price
The outcome
Jessica realized something was wrong when private group promising guaranteed returns by coordinating group buys of specific tokens. By that point, significant damage had already been done — money sent, personal information shared, or trust exploited.
The lesson
Recognize that pump and dump schemes are illegal market manipulation — participants can face legal consequences Jessica's experience shows why private group promising guaranteed returns by coordinating group buys of specific tokens and organizers reveal the target token only seconds before the buy signal, preventing proper research are the clearest early warning signs.
How to identify it
- Private group promising guaranteed returns by coordinating group buys of specific tokens
- Organizers reveal the target token only seconds before the buy signal, preventing proper research
- Past pump results show massive gains that primarily benefit early members
- Pause before paying, clicking, or sharing information. Scammers rely on speed.
- Verify the sender, company, or agency using a phone number or website you already know is legitimate.
- Treat secrecy, urgency, and off-platform payment requests as strong scam signals.
What to do now
- ✓Recognize that pump and dump schemes are illegal market manipulation — participants can face legal consequences
- ✓Leave any group promising guaranteed crypto returns through coordinated buying
- ✓Report pump and dump groups to the platform (Telegram, Discord) and the SEC
What to save before reporting
- ✓Save the message, profile, phone number, email, or URL that was used.
- ✓Keep payment confirmations, receipts, and account alerts before you dispute or delete anything.
- ✓Write down the timeline while the details are still fresh.
- ✓Save the full chat or call log before blocking the sender so the reporting path still has the original context.
How big is this problem
You are not alone — this scam affects millions of people.
These numbers come from government agencies and official reports. If you have been affected, know that this is a widespread problem — not something that only happens to careless people.
FTC 2024 fraud losses
Imposters
Most common FTC fraud category in 2024
FTC says imposter scams remained the most commonly reported fraud category in 2024.
History and evolution
- This scam family tends to persist because the social-engineering pressure works even when the exact scripts, platforms, and payment methods change.
- The specific packaging evolves over time, but the core pattern usually stays the same: create urgency, control the channel, and push action before verification.
- Academic research published by Imperial College London found that pump and dump schemes generate millions in monthly manipulation volume across crypto markets
Recovery and follow-up
- ✓Save the messages, receipts, account alerts, and transaction details before you block or delete anything.
- ✓Report the scam through the official platform or government channel that best matches where it happened.
- ✓Recognize that pump and dump schemes are illegal market manipulation — participants can face legal consequences
- ✓Leave any group promising guaranteed crypto returns through coordinated buying
- ✓Report pump and dump groups to the platform (Telegram, Discord) and the SEC
Why this pattern keeps working
Even when the story changes, most scams still use the same pressure pattern: urgency, authority, and a request to move money or data fast.
Academic research published by Imperial College London found that pump and dump schemes generate millions in monthly manipulation volume across crypto markets
OpenScam research
Where to report it
If you have been targeted by this scam, reporting it helps authorities track the pattern and protect others. Global has dedicated agencies that handle fraud reports.
Report cross-border scams
econsumer.gov (ICPEN)
International Consumer Protection and Enforcement Network portal for reporting cross-border online scams. Reports are shared with consumer protection agencies in 40+ countries.
Interpol financial crime guidance
Interpol
International policing guidance on online financial fraud, romance scams, and investment fraud operating across borders.
Report phishing emails
Anti-Phishing Working Group
Global industry coalition for reporting phishing emails and URLs. Forward phishing to [email protected].
Explore further
Understand the bigger picture
Who is most at risk
Who this scam targets
Primary targets
Crypto investors, New crypto users
Geographic concentration
Global
Primary channel
Telegram — Cryptocurrency scams
Why this group is vulnerable
Crypto investors are particularly vulnerable because this scam exploits trust in familiar brands, authority figures, and time-sensitive decisions. The ongoing nature of reports suggests that awareness among this demographic remains low.
Sources and methodology
How we verify this information
OpenScam tracks scam patterns using a combination of government consumer protection databases (FTC, IC3, Action Fraud), platform-specific fraud reports, and verified consumer complaint data. Each entry is cross-referenced against at least two independent sources before publication.
Severity ratings are based on financial impact potential, reversibility of damage, and volume of reports across multiple reporting channels. Trend velocity reflects the rate of change in report volume over the most recent 90-day window.
This page was last verified on 2026-04-04. Red flags, recovery steps, and reporting resources are reviewed quarterly against current agency guidance.
Evidence and indicators
- Academic research published by Imperial College London found that pump and dump schemes generate millions in monthly manipulation volume across crypto markets
Source notes
- OpenScam research
Frequently asked questions
Common questions about crypto pump and dump group scam
How does the crypto pump and dump group scam work?+
Organizers build large Telegram or Discord groups marketing insider knowledge and guaranteed profit opportunities They pre-buy a low-cap token before announcing it to the group, who are instructed to buy simultaneously As group members buy and the price spikes, organizers sell their holdings at the inflated peak, crashing the price
What are the warning signs of crypto pump and dump group scam?+
Private group promising guaranteed returns by coordinating group buys of specific tokens Organizers reveal the target token only seconds before the buy signal, preventing proper research Past pump results show massive gains that primarily benefit early members
What should I do if I encounter crypto pump and dump group scam?+
Recognize that pump and dump schemes are illegal market manipulation — participants can face legal consequences Leave any group promising guaranteed crypto returns through coordinated buying Report pump and dump groups to the platform (Telegram, Discord) and the SEC
Who is most at risk for crypto pump and dump group scam?+
This scam primarily targets Crypto investors, New crypto users. It is most commonly reported in Global and typically appears on Telegram.
Is crypto pump and dump group scam still active?+
crypto pump and dump group scam is currently on our watch list. It has been reported across US, UK, AU, CA. Last updated 2026-04-04.
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What to do first
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What to do first
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Targets
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Help someone avoid this scam.
Scammers succeed because people do not talk about it. If you or someone you know has been affected, there is no shame in it — it happens to millions of people every year. Share this page with friends and family so they know what to look for.