It is no secret that the world of Crypto is also filled with shady players. While others give their lives, time and effort to building and promoting a decentralized financial system, others simply watch out for the chance to make a fortune for themselves.
Today, we will be beaming our spotlight on this very controversial character whose name and activities arouse suspicions and whispers of caution.
Legends, meet The Dumper!
Bill Mayer is a 55-year-old former banker who has earned a hard reputation for being The Dumper in many crypto circles. Through his banking experience, he acquired and mastered the art of artificially inflating the price of an asset through false and misleading information. He currently employs those skills in his numerous cryptocurrency pump and dump schemes.
As the Dumper, he typically buys a low-volume asset for a low price all at once, prompting the price to rise, with most of the liquidity locked away. This sudden and rampant increase in the asset’s value will prompt unknowing traders to jump in and purchase the asset as they hope to ride a bull market.
He backs this move by rallying a pump for the asset through aggressive social media and community-driven hype. His targets are new investors who are often willing to get in early for fear of missing out on the next big opportunity. With new traders buying in, he manipulates the price of the assets and quickly sells them to make his profit.
Because of his numerous scams and notoriety, the Dumper remains blackballed from being publicly associated with many crypto projects.