In a previous post i presented the scam coin Water: https://www.altcoinstalks.com/index.php?topic=322617.0

I presented the involvement of Gotbit in the pump and dump process, or rather the dump and dump scam.
Luckily the FBI took action and are now suing Gotbit :
https://www.justice.gov/usao-ma/pr/eighteen-individuals-and-entities-charged-international-operation-targeting-widespread

But after further investigation into this project, i believe another entity is behind this scam project and possibly many others.

The entity is the exchange Bitget.

Here's my reasons to believe so:

1 - Bitget listed several scam coins within 48-72h from coin creation, a good example: 
June 21 2024 the scam project water coin finished the presale >> June 24 it was listed on Bitget
(presale tokens were distributed manually, and by June 24 only a small portion of buyers have already received the tokens)

2 -Bitget is directly involved in promoting these scam coins, via it's established celebrity partnerships.
Messi:
https://www.google.com/search?q=Bitget+Renews+Partnership+with+Lionel+Messi



Messi promotes Water coin

https://www.coindesk.com/markets/2024/07/09/lionel-messi-promotes-obscure-meme-coin-on-instagram-leading-to-350-surge/
https://cointelegraph.com/news/lionel-messi-promotes-solana-memecoin-instagram




3 - Bitget attempt to censor reports exposing this involvement in scam coins, for instance this article:
quote:

Bitget's Frequent Launches of Unclear Meme Coin Projects
Among the many top-ranked exchanges in trading volume, Bitget is arguably the fastest in launching new projects, with a significant number of meme coins introduced recently. Many of these projects have unclear situations and unverifiable team information, posing high risks.

Recently, Bitget launched several meme coins, including Biaoqing, APEcoin, Beer, and WATER coin. These meme coins share similar market volatility characteristics. WATER coin and Beer are backed by the same team, while information about Biaoqing and APEcoin projects is unavailable, seemingly appearing out of thin air.

This raises doubts about Bitget's cryptocurrency listing review system, as they promote and launch meme coins without investigating the team's situation and project information. Such behavior undoubtedly facilitates the completion of meme coin scams.

Bitget Suspected of Collaborating with Scam Groups
On June 21, a meme coin called WATER Coin raised over $41 million during its presale stage.

The project raised 200,000 SOL within one minute of the presale and 300,000 SOL within five minutes, worth about $41 million, making it the largest meme coin presale case to date, with over 26,000 wallet addresses participating in this presale.

On June 24, the WATER token was listed on Bitget, with a market value once exceeding $1 billion.

For a newly launched project without a clear endorsement, achieving such a dramatic funding amount is striking.

Notorious "German Prince" as the Manipulator Behind the Scenes
Investigations revealed that the team behind WATER is the same as the manipulator team behind the previously launched BEER meme token on Bitget.

BEER token, themed around beer, reached a presale of 30,000 SOL on May 20, worth nearly $5 million. After its launch, BEER token's price soared, with the highest increase reaching 30 times, and the market value peaked at $500 million. Currently, BEER token's price has plummeted to the bottom.


According to reports, the team behind BEER token includes German businessman Marcus Prinz von Anhalt (commonly known as Prinz Markus), who is famous for his luxurious lifestyle.

In 2006, he spent millions of dollars to acquire his new name Marcus Prinz von Anhalt through adoption by a prince's wife. Since then, Prinz Markus has liked to call himself the "German Prince."

In 2014, Prinz Markus was sentenced to four years in prison for tax evasion and fraud and was also charged with money laundering, tax fraud, and human trafficking.

From Prinz Markus's social media, it can be seen that he has recently been enthusiastic about investing in the cryptocurrency field. After BEER token was launched, he repeatedly endorsed it.

Currently, Prinz Markus has 7.74 million followers on Instagram, and prizes from BEER's holding activities, such as CYBERTRUCK and private jet trips, free beer supply, etc., have been displayed on Prinz Markus's social media.

However, Prinz Markus's reputation is not good, with many people directly calling him a scammer on social media.


According to reports, another initiator of BEER is German entrepreneur Ben Bilski, a former professional swimmer who has won multiple German championships.

After retiring, he has continuously started businesses in the tech field, including founding NAGA Group AG (one of Europe's highest-valued fintech companies). Ben Bilski resigned as CEO of NAGA Group AG in March this year. Public information shows that Ben Bilski is also enthusiastic about cryptocurrency investment.

In addition to these two German entrepreneurs, Gotbit Hedge Fund is also behind the manipulation of BEER. Gotbit has explicitly stated on Twitter that it has cooperated with BEER and helped BEER with market capitalization management.

Gotbit is a hedge fund specializing in helping tokens achieve market capitalization growth. Previously, on the X platform, blockchain detective ZachXBT stated: "I would be cautious about any project cooperating with the market maker Gotbit Hedge Fund because a leaked report shows significant issues with their services. Gotbit claims in this document that its strategy in the initial few minutes of the price discovery phase is to drive the price up to 10 times to create FOMO and accumulate as much buying power as possible, to the extreme, and then sell all tokens at the subsequent peak."

From BEER's price curve, it seems to conform to this manipulation strategy.

Manipulation Team Continues to Dump and Build Rat's Nest
The initial increase in BEER token was quite exaggerated, but as the team frequently sold, the price plummeted. As of June 25, the price of BEER token has fallen by more than 90% from its peak, and the market value has fallen back to around $50 million.

According to LookonChain monitoring, BEER team's related addresses have sold more than $3 million after the price was pushed up.

After the WATER token was listed, it surged nearly tenfold in a short time, and then plummeted within a few hours. As of June 25, its price dropped to a minimum of $0.00097, below the initial offering price of $0.0016.

In addition, the #DevelopmentTeam  seems to have replicated the rat's nest operation on BEER. According to LookonChain, the #DevelopmentTeam  has transferred 844 million WATER tokens to 11 wallets that did not participate in the presale.

Investigation found that these 11 wallets have sold WATER tokens worth $2.36 million and still hold tokens worth $1.75 million, which are being sold continuously.

Bitget Lists WATER Coin Despite Known Risks
Despite experiencing the market fluctuations of BEER coin and knowing that the Water coin team is the same, Bitget still listed Water coin.

This behavior is puzzling. Knowing that investors might fall into a significant scam, Bitget chose to list Water coin, contrary to other major exchanges.

Whether Bitget reached some consensus with the team behind Water coin is unknown, but it is certain that Bitget did not prioritize users but rather focused on its own interests.

Blood Coin (on Solana) , Another scam by Marcus von Anhalt

After cheating, scaming, robbing people, now they want to distance themselves from prior scam beer and water.
This project is just another scam by the fake prinz Marcus von Anhalt






More details about the scammer : https://www.altcoinstalks.com/index.php?topic=323222.0

Type of scam : Slow rug.

Both beer coin (beercoin.wtf) and water coin were created by the same individual or team, this can be clearly be understood from the promotion done from beer coin accounts, and from the statement on watercoin (watercoin.wtf)  site, and both sites have identical styles:











Red flags:
The watercoin presale raised $ 41 million


That was above the hard cap, so there was a vote for :
1- Return the funds to anyone who paid beyond the hardcap
(due to the fact that a hard cap was not programmatically implemented in a contract, and instead the presale was a simple address)

2- Buy the market, the next 24h and then send tokens (yes a scam idea, to capitalise on the hype)

Voters on twitter chose the first option, eventhough bot activity was voting for option 2, twitter vote by large chose option 2, on telegram bots activity was bigger.

As a result instead of refunding, they bought the market ... And guess who sold ? Yes, themselves.
They dumped the tokens , the 41 million dollars were not enough for these scammers, they wanted more.






The element of the scam becomes visible, when you realise that the team was the one playing the price and dumping none-stop
The wallets they hold has nothing close to the percentage they announced they should hold, and that is due to selling most of the tokens already.

They also did no need to sell to get the money for cex listings , given that they actually have $41 million already raised in presale, thus no argument abount needed money is plausible.




Hyping even more:



Scam Verdict:
1- They bought million of fake telegram users and twitter users, to create hype, at it's height there was only 55 000 holder.
2- They cheated the voting on telegram, with bots. They did not honor the voting on twitter.
3- They used funds that did not qualify to the presale to pump the price (rejecting the calls for refunds).
4- They dumped huge amount of tokens since day 1, and since hour 1, even though they already amassed 41 million in presale.
5- The deployer team pretending to be external service while actually they are the ones launching the coins:
offer proposal "to the team" , lol yeah right ...

then admitting they are the ones launching it:



Water Account retweeted the above tweets by gotbit. Then now all these tweets vanished :


these scams are associated with crypto scammer Marcus Frank Adolf Eberhardt known as Marcus Prinz von Anhalt or Prince Marcus von Anhalt : https://www.altcoinstalks.com/index.php?topic=323222.0