Hello
Someone created a channel on Telegram called "Kryptonian". He was writing about crypto analysis and giving buy / sell signals for a whole month. He built trust by simply managing a quite solid crypto channel and gathered about 100k subscribers (probably 50% of it are bots, but anyway).
Few days ago he told on the channel about investigation related to a new coin. Of course, after 1-2 days he came up with a great info - very promising new coin called Espresso Systems. The Espresso Systems is indeed an existing company so he was spamming with some links about great investments done to it by big players, for example:
https://www.coindesk.com/tech/2024/03/21/espresso-systems-raises-28m-in-series-b-led-by-a16z-crypto/
This is of course not related to any coin, because real Espresso Systems is not a coin project. Scammer created his own coin called "Espresso Systems" and provided instructions how to buy ("invest in") it. So basically a classic honeypot - if you send money there then you cant get it back and he constantly removes liquidity.
This scam is still ongoing - you can watch that people still lose money, nobody is able to sell (besides scammer):
https://dexed.io/app/eth/0x2c9c748fe550c11ff1ed5df8822d7dbb7a86de9e