Bitcoin (not Gold) remains best bet against debt-based fiat ponzi scheme
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Always interested in a bit of blockchain analysis but not sure what to make of Cambridge scholars who still think First In First Out works with Bitcoin. Or am I misunderstanding the FIFO concept? Far as I recall coin age isn’t any longer a priority, and most clients now allow coin control, I freeze and mix utxos all the time. Doesn’t everyone?
Coinmarketcap several minutes after the dump (peaked around -78%): [https://imgur.com/a/MbnSLZV](https://imgur.com/a/MbnSLZV)
I tried to warn everyone two days ago. But now here we are, it’s too late, the team has cashed out.
Most of you saw my recent post here about all the red flags of the recent Apollo cryptocurrency – the way they censored their social channels/Telegram, how they encouraged their members to stock up and and BUY and banned anyone who talked about selling instantly. How they actively pumped up the price of their coin the past couple of weeks through fake news and shill armies.
That’s not why we’re here.
I was just online when I notice a sell order on the APL exchange. Wait not just one sell order. Many. And then I went to the other APL exchanges. Same situation. Suddenly hundreds of millions of APL were hitting all exchanges all at once in a massive dump that sent the price shooting down over 70%.
I immediately went to the block explorer. The Apollo block explorer features no rich lists for obvious reasons, so I knew I had limited time to find the dev’s accounts and their transactions that would cause the dump in the history. Low and behold, I found a couple of them: [https://imgur.com/a/vXi2GXE](https://imgur.com/a/vXi2GXE)
I didn’t continue to go back in time on the block explorer, but you all know where to go look if you want to find the team’s accounts now for this “anonymous” currency. I checked the balances on several of those accounts and some had around a billion APL, with the others having hundreds of million. The only people who own anywhere near this much are the Apollo team (and possibly John McAfee, lol).
I will continue to edit this and add information but want to get it out there now while this is happening so people can start discussing it in here.
Previous post from 2 days ago if you want to catch up on what’s been going on up until this point: [https://www.reddit.com/r/CryptoCurrency/comments/ai5b62/apollo_apl_is_a_massive_scam_and_you_are_all/](https://www.reddit.com/r/CryptoCurrency/comments/ai5b62/apollo_apl_is_a_massive_scam_and_you_are_all/)
*(My last post was removed by the automod for having the word “Mega-thread” in the title. I’ll repost everything here so people are aware of what’s happening and continue to provide updates.*
**7:10 AM update**: APL Telegram Channel put on read-only mode for 10 minutes
**7:25 AM update**: Re-enabled, the admins are now threatening to mute anyone who mentions anything about the dump and encouraging people to “buy cheap”: [https://imgur.com/a/xyptHBp](https://imgur.com/a/xyptHBp)
**8:05 AM update**: They are BANNING everyone from the telegram who tries to talk about the situation in a negative light, asks a question about what happened, or tries to ask any of these questions over PM to another member: [https://imgur.com/a/kWx3ULe](https://imgur.com/a/kWx3ULe)
**8:07 PM update:** Bitmart’s entire exchange has went completely offline as well (the main exchange for trading APL). APL is now only actively trading on Coinbene. To Check Statuses: [Link to Bitmart](https://www.bitmart.com/trade?symbol=APL_BTC). [Link to Coinbene.](https://www.coinbene.com/exchange.html#/exchange?pairId=APLETH)
**9:10 AM update:** APL Telegram is saying everyone is buying APL on Coinbene (only active APL exchange left right now) to get back in. However, every one of these “buy” trades is actually just a wash trade and never actually appears on the exchange – it’s conducted between the highest bid and lowest ask. You can watch the order book for 30 seconds and look at the prices of the last “buy orders” to confirm that this is wash trading.
**9:14 AM update:** The APL founder Steve McCullah is finally in the Telegram, he has not acknowledged the situation yet and has said “everything is great”: [https://imgur.com/a/idnE6wH](https://imgur.com/a/idnE6wH)
**9:18 AM update:** Steve confirms everything will be fine and includes rocket ship emoji’s in his post to ensure his loyal telegram followers that this coin is still going to the moon: [https://imgur.com/a/BkjA0MA](https://imgur.com/a/BkjA0MA)
**9:35 AM update:** I’m seriously having issues not typing anything in the Telegram so I can continue to provide updates. It’s getting tough watching Steve continue to ignore the situation, using rocket ship emoji’s, and acting like everything is just perfect after (allegedly) dumping a ton of coins earlier this morning on investors. All opposition or people speaking out in the group have already been banned and messaging has slowed down a lot. Steve is telling people not to worry about anything as there will be a big announcement today or tomorrow: [https://imgur.com/a/NKFTkM3](https://imgur.com/a/NKFTkM3)
**9:53 PM update:** Steve is has just continuing on with the “everything is fine” narrative and not acknowledging anything.
**9:55 PM update:** I just want to make people aware that this could be happening but by no means definitely is (this is theory, not fact, but should be considered given the situation):
MASSIVE buying up of all the sell orders just appeared in the order books on Bitmart, the main exchange for APL and the place where Steve or the team deposited the majority of their APL: [https://imgur.com/a/LrhNnQn](https://imgur.com/a/LrhNnQn)
Steve starts talking about the APL price and how it’s going back up again RIGHT as these buys happened: [https://imgur.com/a/gobtQUf](https://imgur.com/a/gobtQUf)
It seems very obvious to anyone watching the Telegram that he is trying to cover his tracks by buying up back to a reasonable price so the price of APL dropping 78% in 1 minute earlier doesn’t seem apparent. Like I said, it’s what it looked like but there’s no way to confirm that’s actually what just happened.