They put in work to get the price up so they can dump. How does that not make sense? Almost every single ERC20 scam does the same thing: Huge news and a few days later a huge dump on the markets. The whole point of a scam is to make you believe in the project so the price goes up.



Until we get some kind of basic auditing process for these projects - 2018 is going to be filled with 95% ERC20 scams like this.

I just saw the edited OP:

I've only been here a few months but this is the second time I've seen this exact same thing. ELITE (ethereum lite) also a hack days before major news. The sad part about all this is that it becomes very difficult to trust / find genuine projects.