btc

Side Chain Coin (SIDE) is a typical pump-and-dump type air coin in 2024, belonging to the common tactic of "concept harvesting" in the cryptocurrency space, with no substantial side chain technology implemented.

In the initial phase, the project team created false technical white papers on "cross-chain expansion" and "low-cost transfers," intensively promoting content on social media and niche communities, deliberately embellishing the hype of a "new dark horse in the side chain race" to attract retail investors and speculators.

After the warm-up period ended, the project team collaborated with off-market makers to initiate a pump operation, using small amounts of funds to inflate the coin price more than 10 times in a short period, creating the illusion of "wealth myths" to induce investors to chase prices at high levels. When the number of retail investors holding positions reached a certain scale and the trading turnover rate peaked, the project team quickly sold off the vast majority of the tokens they held, triggering a catastrophic collapse in coin prices, with a single-day drop of over 90%.

After the crash, the project team not only closed official communities and delisted token trading pairs, but also deleted all publicly available technical documents and promotional materials, completely going offline. Ultimately, the vast majority of investors saw their principal nearly go to zero, with the entire harvesting cycle lasting only 12 days, fully exposing the "short, flat, and fast" nature of such fraudulent side chain projects and highlighting the high-risk attributes of niche altcoins lacking regulation and value support.