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Mech Master Price Manipulation

Publish date: Oct 29, 2021
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Mech Master RedKite and GameFi Price Manipulation

Another day, another RedKite and GameFi IDOs that manipulated the listing price, so that the presalers profit from the individuals who purchase on the launch date.

How?

Presale price is $0.04 per MECH token

However, on PancakeSwap launch time, Mech Master decided to add 500 BNB and 990,000 tokens into the liquidity to set the listing price. As a result, the listing rate is 262764.28 / 990000 = 0.2654 per MECH token. In comparison to the rate of presalers, the listing rate is so much worse.

$262,764 / 990,000 tokens = 0.2654 per token

Based on the calculation, the presalers immediately receive a 6.63x bump ($0.2654 / $0.04) = 6.63 – which meant that the presalers were able to profit on launch immediately and could dump on anyone that tried to buy the tokens at launch.

Lies

The mod lied to people about the listing price, so that people are thinking that they are getting a good deal, but it was just a lie

Learnings

Ask yourself this question – “Would I buy at launch if I knew listing rate is 6.63 times worse than the presalers?”

Disclaimer: Not financial advice. Do your own research.