Want to see what a rug pull looks like?

Too many people thinking a regular pump and dump is the same as a rug pull. It's not.

To give an example - a s*itcoin named Lightcoin was trending/best gainer on Coinmarketcap a few days ago. Had a solid 50% daily pump. 40mill marketcap. Out of curiosity, I check it out, and see all the standard s*itcoin elements: most information can be found on r/cryptomoonshots, made in March 2021, dumped in April 2021, "we have the best community", 10% tax (in and out), some mumbo jumbo on their page, you know the deal.

So I keep following it. Today I see the price has pumped for another 20%. CMC page looks good. Then I check out a site called poocoin (you can presume the reason it's called poocoin, as it shows data on all BSC tokens/s*itcoins). It has some solid info, such as LP (more on that a bit later), number of holders, charts, recent txs etc.

​

Now for the kicker: though today the CMC page shows healthy, sustainable growth through the last 7 days or so (even today), poocoin paints a bit different picture.

​

https://preview.redd.it/bpmkm86bklq71.png?1904&format=png&auto=webp&s=2b85d9443e6d17e7bcfd0e94f0b993b4a5cc3769

​

I know, the red candle of death is a sight to behold. But notice the numbers on the left. Mcap from $30mill to $175k. Liquidity pool is $1k. Over night. This is what a rug pull looks like. All (well almost all) liquidity is drained.

​

Just for comparison, this is your regular pump and dump or sell off by early investors/devs. Same coin, March and April. Not rug pull, because liquidity was still there (for the time being).

​

https://preview.redd.it/aj1ah8k5llq71.png?1217&format=png&auto=webp&s=77fcc87401a357043ac9d2dde941366d8c59e691

​

TL; DR: don't invest in s*itcoins on the BSC (or anywhere for that matter). If you really want to gamble, gamble in a place where at least you have 1% chance of winning. With these coins/tokens, there is none.

​

EDIT: as /u/hoanglpr rightfully pointed out, this may be a case of migrating to a new token. The new token shows up at the same time as the last one stopped working. Mcap is at $55mill, LP is at $1mill. If this is all true, my apologies to the team for judging them too quickly (I consider this to be my own learning experience). I'll give them the benefit of the doubt, though if the last few months following tokens on BSC have taught me anything, this is just prolonging the inevitable.

I remain by my statement that this is what a rug pull looks like, and people should know the difference between a P&D and a rug pull.