The project party first pumps the price to attract a wave of traffic, then they crash the price themselves and distribute the coins to the retail investors. As for who loses money? Those who buy in at a high price and participate in the IDO are also very likely to lose money. I noticed during the IDO that many coins were brought in by Binance to participate, and these wallets were all brand new with no trading history, usually participating with just a few BNB. Such a large investment is highly likely to be the team's insider trading. $FORM
