- Zeus Capital has been paying Twitter crypto influencers to post negative LINK charts
- The company has been on an anti-Chainlink bent for over two weeks after publishing a ‘report’ calling it a “Russian pump and dump scheme”
- The company has clearly taken out a short position which is not working out
Zeus Capital, the shady outfit behind a report that recently accused the Chainlink project of being “crypto’s Wirecard”, has been exposed after high profile Twitter accounts revealed that Zeus Capital was offering them money to post negative price analysis about the LINK token. The scam, which has seen some take the bait and post fake charts, represents the desperation of Zeus Capital to get out of what is very likely a very heavy short position.
(Badly) Orchestrated FUD Campaign
The strange episode dates back to July 16 when the little known Zeus Capital published a report that accused Chainlink of being a “Russian pump and dump scheme”, citing insider trading, front running, fake transactions, and a rash of other misdemeanors that they claimed backed up their theory. The report was quickly debunked, but this hasn’t stopped Zeus Capital from pursuing their vendetta.
After two weeks of retweeting any and all positive responses to their report, Zeus Capital has recently moved onto the next stage of a clearly orchestrated FUD campaign. In the last week or so Zeus Capital has stepped up its game by using the Twitter promoted tweet facility, which is normally used by companies to advertise products, to promote their own anti-Chainlink tweets. This attempt to spread their gospel has seemingly fallen on deaf ears, with many simply confused as to why the company is paying to badmouth the token.
Embarrassing Attempts at FUD
Phase three however is really where Zeus Capital’s credibility has gone out of the window after several high profile Twitter traders posted requests made by Zeus Capital asking them to post negative LINK charts that showed the price crashing:
This is a coordinated effort aimed at damaging the projects and weakening the market.
The individuals behind the operation have most likely taken out short positions hoping to crash the markets with FUD.
Not only this unfair, it’s highly illegal and must be stopped.
— Crypto Bitlord 🚀 (@Crypto_Bitlord) July 29, 2020
Seemingly ignoring the stream of bad publicity and ridicule coming their way after being outed, Zeus Capital has nevertheless retweeted these charts as an attempt to back up their flimsy case:
— Hsaka (@HsakaTrades) July 30, 2020
Zeus Capital Getting Desperate
The reason for Zeus Capital’s desperation is pretty transparent. LINK has been on an epic four-month run which has seen it rocket from $1.30 in March to $8.90 in July, topping out on July 16 – the day after the report was published. Having seen the token hit such highs it would be a natural move for any trader to take a short position, and this is likely what Zeus Capital has done, potentially to a dangerously high degree, in the hopes that they could achieve a flash crash of the LINK price and turn a huge profit.
Since the plan was carried out in such a hamfisted way that even the least critically-thinking individuals would be asking questions of it, it has failed spectacularly, leading Zeus Capital to embarrass itself as it attempts to get the LINK price pushed lower, although it appears that they can at least see some humor in their atrocious attempts:
It is ironic that Zeus Capital is accusing insiders of manipulation of the LINK token, when this is exactly what they themselves are attempting to do. If there is any justice in the world, the LINK token will go on another massive upward move and they will be swiftly liquidated.