Rumors circulating on the anonymous forum site 4chan and Telegram have caused an cryptocoin to increase by more than 10,300%. There are rumors that cryptocoin Opyn yCurve Insurance (OCRV), which is instantly popular on social media, is in the process of accumulation and has been collected.
Cryptocoin Bounced A Few Hours After Sharing
In a post on 4chan’s business and finance page, Opyn yCurve Insurance (OCRV) called it the next cryptocurrency that will increase by 100x. The posted statement included the following statements:
Fasten the belts. The market value is only 8 thousand dollars and this amount will explode. It was already explained in Telegram. It may have been like TRB a few months ago… just… 100 times cheaper.
OCRV was literally rocketed within a few hours of the announcement on the 4chan site. Low-volume cryptocoin rose from $ 0.29 to the all-time high of $ 3.04.
OCRV is a token of Opyn, designed for the decentralized financial platform Curve.fi users to insure their deposits.
Insurance tokens protect investors against market fluctuations, sudden crashes and other system risks. However, on the day that OCRV exploded, traders bought expired insurance tokens.
While traders were buying tokens, OCRV fell as fast as it climbed. A few hours after reaching the all-time high on May 23, OCRV dropped to $ 0.228 with a devaluation of over 92%.
It soon became clear that OCRV created a classic pump and dump scheme. This situation reminded investors once again about the dangers of investing in the crypto market.