News

Big Scam: Neblio Pump and Dump; Investors Suffer Loss

What is Neblio?

Neblio is a blockchain development and management company that has immersed itself into the crypto market by launching its cryptocurrency. They are specialists in the field of blockchain and even have their crypto wallet. In August 2017, the company launched its cryptocurrency and offered people to stake in the farming pool. As expected, the currency gained popularity since people knew there is a robust blockchain development company behind it. 

Price History 

After its launch in August 2017, Neblio was priced at $1.3. Over time, it reached a peak of $5.6 at the end of October 2017 and at the end of the year, moreover, the coin closed at $7.5. Investors were happy about the price increase and started to buy more with hopes of great profit. Their prayers were answered in January 2018 when Neblio jumped to $41, creating excitement for the investors. However, most of the people who invested in this token sold all their coins and waited for the currency to decline. As expected, the token fell abruptly to $11. Throughout 3 years Neblio declined and its value fell below $1. 

Recent Price Hike

In the past few days, the price of Neblio surged abnormally causing suspicions among the investors. On 2nd January 2021, it was being traded at a value of $0.8 but on the next day, its value surged to $2.04 only to decline back to $0.8 in a matter of minutes.

Allegations of Pump and Dump

The entire crypto community is raising allegations of “Pump and Dump” against the community. While many others became rich overnight, some so many people lost their entire fortune because of this abnormal price change. 

Evidence of Pump and Dump

Furthermore, to prove that the company used Pump and Dump tactics, a trend started on Twitter by the name of $NEBL, where people are condemning this act of scam. There is even a Telegram channel that supports the allegation of scams against the company. In this channel, users have clearly signalled their followers to be ready for the price hike and even advised them to sell all their coins quickly otherwise they will bear an enormous loss. The channel was made months ago to gather investors, attracting them with the pump action. Every day, administrators of the channel would tell their followers about the future price surge.

Users all around the world are currently uniting together to oppose this act of scam. They are bombarding Neblio’s Twitter channel with allegations. Moreover, many users have joined a Discord group to ally against the company. The number of members determines people have been scammed from this pump and dump action. This is why many people hesitate to join the crypto market, in fear of losing money to a scam.

To Top