Telegram Group Orchestrated $800K Pump-and-Dump Schemes on Solana and BNB Chain
A forensic investigation by Solidus Labs has uncovered a pump-and-dump network known as PumpCell, operating as an invite-only Telegram group. Active since at least late 2024, PumpCell manipulated tokens across multiple networks, including Solana, Binance Smart Chain (BSC), and Base.
The group employed coordinated tactics such as synchronized token launches, seeding liquidity pools, sniper-bot driven buying, and meme-fueled hype campaigns to rapidly inflate micro-cap tokens to valuations in the seven-figure range within minutes. For instance, the token ZERO hit nearly a $2 million fully diluted valuation in under an hour on Solana before crashing. Other tokens experienced similar spikes followed by sharp declines.
During October 2025 alone, PumpCell generated around $800,000 through these schemes. To evade compliance controls, funds were moved via centralized exchanges—including Binance—and through an Eastern European over-the-counter (OTC) broker. More than a quarter of the related wallets funneled assets to centralized platforms, and some operators cashed out for physical currency using OTC brokers to avoid on-chain tracing.
Solidus Labs highlighted that the fast, cross-chain, bot-driven trading activities combined with automated market maker (AMM) liquidity complicate detection by traditional surveillance tools. The company recommends implementing real-time AMM analytics, behavioral wallet clustering, and on-chain fund tracing to detect such sophisticated pump-and-dump schemes. It also urged exchanges to reinforce consumer protections, especially amid listings on layer-2 token networks.
