Unknown Webdollar Digital Currency (WEBD) Fell 99% After Extreme Growth Yesterday
Yesterday, the value of an unknown digital currency(Webdollar) reached the top 17 digital currencies in terms of market value in just three hours with a sudden jump.
On Monday, about $ 7.3 billion entered the digital currency market in just three hours through a completely unknown Altcoin.
The currency, known as the Webdollar (WEBD), rose from $ 0.0003711 to $ 0.6121 from 9:00 a.m. to 12:00 GMT and rose more than 164,842 percent. However, the price increase was accompanied by a decrease in volume. This action shows the price of a pump sequence and incredible discharge. The Web Dollar, which surprisingly rose to 17th in the market, fell 99 percent to $ 0.0004 and fell to 873rd.
According to data collected by Coin Market Cap, the first WEBD jump boosted the market capitalization of this digital currency from $ 1.84 million to $ 1.5 billion in just 5 minutes.
Later, at 10:39 Greenwich Mean Time, its market value fell to $ 5.12 million, and at 11:29 Greenwich Mean Time, it jumped to another $ 9.5 billion.
The WEBD price pump and dump comes from an exchange called IndoEx, which operates under a UK-registered entity called IndoEx LTD.
Collins Spencer is the only shareholder in the company who is not on any social network.
In the LinkedIn profile, the company is proud to have 10-50 employees, only three of whom are in business on social media. They all have secret LinkedIn profiles and are from Indonesia, not the UK.
Evidence shows that IndoEx played a significant role in pumping and dumping WEBD tokens on Monday.