A lesson that you can`t just throw in money in an unknown altcoin


**May 30th:** goodbadidontknow was browsing his usual crypto tracker Coingecko while sipping on his tea. There is a section there called « Large movers » which let you know which coins/tokens have pumped most during the last 24 hours. In addition you find those who have dumped.

goodbadidontknow saw a coin called [Palace](https://www.coingecko.com/en/coins/palace) which had fallen 90% that day and thought to himself: There is no way that coin can fall further! In addition he went to [the website of the project](http://paatoken.io), and saw a roadmap with goals and everything. It was korean of course, so he couldnt understand a single word out of it. But the roadmap had pretty colours and stuff so he was intrigued. Plus the IEO they ran on Probit was priced at 20KRW, and the sale orders were at 0.5KRW that glorious day!

goodbadidontknow deposited his Bitcoin to the unknown korean exhange it is listed on, Probit, bought up what was available for sale and the deed was done. Boats, hookers and fast cars here come to papa. You people that are selling for this cheap are suckers!!
[This is where he bought his coins](https://imgur.com/a/oNDFfwB)

goodbadidontknow came a little to his senses (after buying in pure FOMO of course) and tried to contact the founders on the website, but no answer. goodbadidontknow also discovered that there was no social media accounts on the project: no twitter page, no telegram.
Where was goodbadidontknow suppose to talk to his soon-to-become-rich friends?

**June 13th:** Palace have since fallen another 90% and goodbadidontknow is left with 10% of his investment. Volume was at $500k per day back when he bought, but have since dropped like crazy and is now at $2k per day. goodbadidontknow suddenly realize he was a victim of a wash trading scam.

goodbadidontknow is still the sole subscriber to r/Palacetoken which he made himself and serve as a painful memory of his crypto adventures.

Source : https://reddit.com/r/CryptoCurrency/comments/h8g41j/a_lesson_that_you_cant_just_throw_in_money_in_an/

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