- Apollo Team is in the hot seat for initiating a massive dumping of coins on unsuspecting investors
- The team has been criticized by their community members and Reddit users
- One Reddit detective shared screenshots and links exposing the ongoing dump of APL coins
Allegations are starting to add up about how the founders of APL have once more been dumping coins during the pump on their investors.
Reddit dective exposed the source of the dump
A reddit user exposed an ongoing dump of APL coins. u/RozzyPoffle’s post shows that the Apollo team is muting all of its protesting community members in their Telegram group chat.
To quote the Redditor’s post, it says:
“The Apollo Currency Team (APL) just engaged in a massive pump and dump scheme, dumping hundreds of millions of coins on their investors.”
The same Reddit user has also warned investors in a post, advising them about Apollo appearing to be a scam. The user said that the “fork” of the NXT coin is hardly improving and is nothing but a blunt copy with very minimal changes in the code.
u/RozzyPoffle also says that it is too late now since the APL team has already cashed out. The Reddit user even has links and screenshots as proof that his arguments are valid. In one screenshot from Coinmarketcap.com, it has shown that APL went down by more than 50 percent.
According to him, Apollo team has allegedly begun to sell the millions of APL coins which they had been holding in their accounts. The Apollo team has been harshly controlling the APL Telegram channel to the point that they ban those who talk about the sell-off or the collapse of the coin.
In a different post, it shows that the CEO of Apollo assures everyone in the chat group that a major announcement is about to follow and everything is great.
John McAfee endorsing APL despite allegations
Despite the issues surrounding APL, something has convinced John McAfee to endorse the coin.
According to John, a lot of privacy coins are no longer private because the owner’s IP address is now available to the general public. But, Apollo is a different case since, he says, it has the best IP masking solution in the crypto market. Therefore, it offers true privacy that can translate to true freedom.
Advising the Investors to Buy in Cheap
The Apollo Telegram channel pushes hard for its community to get back in the market since the APL price has plummeted. They encourage everyone by saying that investors are buying APL on Coinbene in order to get back in.
The post’s author said that the biggest trading volumes of APL are always shown by Coinbene and Bitmart. However, other than the dumps themselves, most of the volume appears to be washtrading to create the illusion of interest in the token.