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What is Pancakeswap Exchange and why is it so popular for crypto pump and dumps?

PancakeSwap is a decentralized exchange developed to facilitate the swapping of BEP-20 tokens. BEP-20 is a Binance token standard that needs to be followed on the Binance Smart Chain. This is an abbreviation that is short for Binance Smart Chain Evolution Proposal. 
Pancakeswap is an unregulated and decentralised exchange for tokens. Everyone can easily create his/her own coin and trade it on pancakeswap. And this is how the pancakeswap pumps work: the admins create their own tokens and you buy them with no chance to sell them. Either because it is a so called honey pot or because of 100% sell taxes.