Bitcoin Forum

Hi everyone,
I just want to tell everyone about the new scheme of the scammer to scam. especially those people who really doesn't understand much about centralized and decentralized trading platform.

I have read several people posting about arbitrage coins like for example MTV arbitrage
Please check this link as an example:
https://bitcointalk.org/index.php?topic=5050943

upon checking what they the link that they are using, you can see that they are pointing you to Forkdelta.
when you check the trading on https://forkdelta.app/#!/trade/0xcd53c76b8a350b7f9815d6ddc4617bf37c7288ff-ETH you will see a token named MTV  (Multiversum). The scammer wanted you to think that this token is the same token found on IDEX.
Because there is really a Multiversum on IDEX.

But if you analyze very carefully the MTV on forkdelta doesn't match in IDEX because of 2 factors.

1.) they have a different smart contract. on forkdelta (0xcd53c76b8a350b7f9815d6ddc4617bf37c7288ff) , on IDEX (0x07a7ed332c595b53a317afcee50733af571475e7)
2.) The have Different token extension. Forkdelta (MTV) , IDEX (eMTV)

I hope that this short analysis will help others to avoid this kind of scam.
make your analysis first before trying to buy or invest on a token.

Good catch! I have seen that arbitrage thread too but I didn't pay attention but it turns out you find something which scammers do make use of these opportunities to get some victims on buying out their token.
If you are a type of person which do have somehow investigative eyes then you will able to spot out their differences and checking out contracts will really help you out. Thanks for the share up man.

Wow, good you caught that one. It seems they're trying to get a dicey way to pump their coin and dump. I wish everyone could see this and become more careful. Staying vigilant is one of the most important feature every crypto enthusiast must have.

That is, so long without looking at the details of the contracts,you can buy a strange coin that is similar to another, but worthless. Sophisticated way, thanks for the heads-up. We need to keep our eyes peeled!

that guys is the same person and i have seen he was always creating such a fake smartcontract address use the same ticker just like the real coin to lure people to buy that and he will be running away with all of the money. It's such a new trend and everyone has responsibility to double check the contract address or never use fork delte or ED again.

good job
With the abundance of tokens and the similarity of their names
there is many scammers who take advantage of similar names must be cautious

Good job of finding this one. These scammers keeps on reinventing their scheme with different coins. They should get a life and stop fooling people with their scams. So that's what they do, they are taking advantage of it by misinforming people.

I want to say thank you very much for your great accuracy. Which has a different token extension, namely Forkdelta (MTV), IDEX (eMTV)
When this kind of thing isn't caught, of course this will be detrimental! I thank you again. This is very important and also very useful for us to know together.

I want to say thank you very much mate :) this will be a lot of help for us . This will be a lesson for us to be much cautios :)

That's one of the reason why I don't prefer DEX nowadays. The problem with DEX is they give the ticker to whoever adds their coin first.
And with that what happens is same ticker is provided by different exchanges to different coins creating confusion.
Many people have complained about sending/buying one coin assuming other. The problem also exist while coin swapping. There could be a swaped token trading in one DEX while a preswap coin in other.

We find scammers again. This is only one that can be seen. There are many more like them behind. We need to be more careful in choosing a project or whatever it is. They are better given punishment so that others cannot be free to do scam like that. Like, they are broadcast to other forums so that others know that they are scammers.

I agree. Scammers keeps evolving as well that's why we need to be very careful and due or due diligence before succumbing to them. I hope that a lot of new members will read what the OP has exposed here to sad they won't also fall for the trap. Good catch OP.

It won't go through most of the members so being part of the community when you see the same posts like those schemes, take the caution and warn the people immediately and be at first with that warning so no one would ever fall for that scam scheme.

Wow i dont realize if there is will be new strategy like that. Now scammers doing anythink to catch everyone, they offer that how to make big profit that everyone will accept they suggestiom. I hope all member will read this thread and they will be carefully and doing some research before do everything

Such posts are very good and useful, of course to add insight and experience to us all. How important it is to be careful in a process, at least by reading the pieces you share. I will be more careful. Thank you very much. It's really very useful so that we don't become victims of a scam.

I have also seen several of this repeat itself. The perpetrators, perhaps just one person, has been creating so many new accounts. Some of the accounts were banned. We really need to be very careful and be vigilant. Those looking for cheap things can easily fall victim.
It is a good thing you have brought this to the notice of forum members for extra caution. Scammers are devising different means through which they can scam their victims. We just need to be careful.

These two factors ^^ are enough for you to spot if that is the same token or not and it should be the basic distinguishing factor one should have in mind if they want to know if that token is same or not. Still a good catch and this should remind the community about this modus.

Criminals,  have created so many new accounts. We really need to be very careful and vigilant.
In most cases, I have noticed that the scammers are stupid and their deception is immediately visible. But it is very difficult to catch them, so just be vigilant, do not succumb to provocations because of greed, invest with a cold head. Always type in Google the name and the word SCAM. Carefully study what people write about them.

Good thing that there are good people like you who is able to catch these bad people on their bad business of victimizing people. I was once a victim of hacking with the old technique using the Slack site and I was then ignorant at that time I never doubted that message supposedly from Slack to change something with my MEW wallet and then to my shock I horribly lost many tokens at the end.

These criminals can get to be creative and they are always ahead of the curve in creating many ways they can get into people and get what they want. We really have to careful unfortunately there are days when getting careful may not be enough. There must be something we can do against this thing that is putting a big black eye to the cryptocurrency and blockchain industry.

Thanks so much for this information. As you know that it is becoming difficult to keep up with the practices of these Scammers which is why i am happy that a solution has been developed to resolve these issues.

Cloudbric has created a decentralized universal security platform with an open cyber threat intelligence data, that will enable users to protect their assets and activities online or on the blockchain. With their suites of solutions, it is easy to detect scams.

 Website: https://www.cloudbric.io/
💡 Whitepaper: https://ico.cloudbric.io/upload/file/Cloudbric_Whitepaper_EN.pdf
💻 Telegram: https://t.me/cloudbric

This is very good post, helping new comers like me. I don't like scammers because they are people with high education/ experience but using it on the wrong way, there's many road to get money but not like that. I'll check before transactions depend your post, thank you so much.

Nowadays more and more fraud is being used as an investment. and in my opinion this will make many people interested in investing. and of course this is very detrimental. many people will be trapped in their investment

This is just an example of differeces between decentralized and centralized exchange.
Everyone who decides to make transactions on the decentralized exchange should be aware of the risks - for "Newbies" the worst is not recognizing the basic addresses of coins / tokens (contract address).
Therefore, before anyone wants to trade on any exchanges, education is the most important thing.

Edit/ I don't want to say, that you did something wrong, but if i have to be honest, you didn't was careful enough.. Just saying..

it seems we really have to always check tokens that we will buy in more detail to avoid things like this. i hope that the writing you make will help many people avoid fraud like this.

thank you for the information you provided.

I think many tokens like that are in forkdelta, a few months ago I also got a token that has the name etherdelta, but after I transferred it to forkdelta, it turned out that the contract address was different, and your information might be very helpful for our friends who still don't want to observe the contract address a token, for my advice if you want to buy tokens join their official telegram group and request a token contract address.

Thank you for the information, there are indeed many scams so this information is very useful.

It thanks to you that this thread will be able to makes people avoiding scam coin. I really hope there will be more of this kind of project that could be useful for everyone.

easy creation of contracts ETH attracts numerous scams(a way of cheating really sophisticated, good that you found out and warned, thank you

Its Yobit exchange's old scam system.
I think they create this type of scam by accident when list some new scam coins and their names become the same

good observation, and thank you for this important information, I am sure there must have been many victims affected by scams like this, hopefully with this thread it can help to make people aware of not falling into the same scam

Of course, you can add a coin on DEX yourself without having to do with the project team whose coin you decide to place on a decentralized exchanger, this is one of the problems of DEX exchangers. There are a lot of similar cases of fraud, you should always check the contract address of your coin with the contract address of the coin indicated on the exchanger.

Thanks for the information. I have never heard of this type of fraud. Now I will check everything carefully so as not to be left with nothing.

Therefore, such exchanges are not popular, they are almost no sales. Such as idex do not allow all the stuff in its place.

I am tired about scam's spreading, I have a feeling that only this sphere of crypto is increasing while others are stopped or sleeping. It must be solved to avoid serious troubles in the future, scam will kil the crypto.

Thank you to spread the word about new form of scam.
I have also made a mistake or been scammed on Yobit. I bought coin Shrp - I thought that it was Sharpay coin and it was only coin which was created to get money from Sharpay investors.

I want to ask, sorry about the topic.

there is a project from another forum, there is explained using a wallet that we have to install then on the form there is wallet + public key information. what do you think of all of you? Should I continue this ... ???

Scam has so many strategies that it will be smarter than usual people in the future I am sure. Scam is very actual problem and it is really useful information from the author to avoid scam in the future.

Good that you found it out and posted it here. It is good to make people aware of such scams. One obvious reason to research over the coin prior to buying it is different names.
It's quite fishy that they both have different names and hence we could figure it out that they are not the same coins and obviously a scam.
The different smart contracts was a good method to find out if the coin is the same as developed by the owner. Also, if the price difference between both the coins is huge then we can figure it out that something definitely is wrong because there can't be a huge price difference in arbitraging.

Nice help for people to be more aware and careful before dealing with this, arbitrage trading really a good way to earned coming from some opportunities with trading, but with this you exposed another tricked coming from those scumbags who are just waiting for a good opportunity to grab traders assets, I hope those who have this coin will carefully reassess before dealing with anything regarding to trading this coin, to avoid being victimized.

That's really useful info. Exchanges like Forkdelta allow for trading of even non-listed ETH tokens but also pose a risk of deception. As you mentioned, users should always check the contract address. Scammers don't leave any stone unturned to loot us..........

Thank you for the helpful information. I also met similar altcoins, but I did not pay close attention to the smart contract and other data, and it should be done! Surely, there are similar cases of scam tokens on the market. We must not lose vigilance and always pay more attention to detail, it will help to avoid financial losses.

Thank you for sharing, good observation skill you have. The scammers are alway coming up with new ideas to scam, we really have to be careful and think before we act.

Thanks for the heads-up,  this helps a lot, checking contract address before you leap is a good way of safe guarding your fund.

It's really hard to identify the difference between the real and fake. Pity for those who've been tricked by this or by those fools who keeps scamming other people because of the other people whose lacking knowledge about this specific token. if theres any chance for them to be warned not to randomly invest or buy to this coin and instead be ensure if this coin is genuine or not.

I have been hoping for something like this and finally ot here this is a good and i do believe will help a lot of us tackle scammers online now that there is an antidote to scammers i do appreciate you findings its mind blowing

I have to admit whenever I read about so-called new scams, I always realize actually they are not old,,, just rehashed. But credit to you OP you have found a new scam, well at least to me I would have not heard of this. A lot of people talk about arbitrage with exchanges especially on the low volume alts, but this is a new level of sophistication. Well spotted.

Sometimes you start to think that crypto market really need some regulating institution that will help to avoid scam cause scammers are everywhere now and it's getting harder and harder to identify them.

yeah they are more and more smarter, coz when we say scam - they ask why - and we answer - and they learn new strategy to be without mistakes, but they are stupied )))

Many scam ICOS strategies appear more and more sophisticated form. Even the groups and their affiliates are fake. This makes us feel very confused and confused and i feel very inhibited.

This is a good point and it worth thanking you because there have been many of this kind which people create platforms to scam people and many will definitely fall for this and that's why it's much sure to be calm and not investing under high temper because there are many people who gain from your mistakes. I have seen something like this which many fell for mostly the new ones in the Crypto world.

That is the reason why the crypto space requires mature Derivative instruments. That is the way to arbitrage. Else, the community will be lead to confusion and no purpose will be served. The current leveraged instruments on offer are nowhere to be compared to the mature ones available in the Currency and Commodity space.
A BIG THANKS for identifying and spreading awareness.

People who come across such a scam, should at least a little bit to explore the cryptoworld and how it works, and be less greedy.

Thanks to the author. I also saw this token, but did not go into details. From now on I will be more attentive, it’s good that there are people who share such finds. Good luck to all and do not fall for the tricks.

it is obvious that before such manipulations we always need to re-check the token contract number and do anything only if it matches on both platforms. Usually i'm checking the contract number even if the token ticker is the same on both platforms.

Thanks for sharing this information, it's very hard di discover profitable arbitrages because you have to consider also trading fees and withdravals so If someone discover an arbitrage do you think that he will share to community or he will try to make as much gain as possibile? This is the question everyone should think at when someone write about "certain arbitrage".

I saw this as well by a scammer using telcoin to try this arbitrage scam. It is easy to tell because the account is from a newbie and they only have 1 or 2 posts which is from this scam. They were quickly removed (the posts) by the mods and hopefully their accounts were blocked

Thanks a lot for your great analysis, it's very helpful for anyone. Scammers are everywhere, we need to be very careful before doing any transactions because we can be trapped there. Let's be smarter and more careful.

Very informative. I myself still feel very down and dizzy if thinking about the scammers. the scams ICO are really sadding.
So Far, I only focus on analyzing whether their team is real or not, as shown on the community channel and how they interact. I still feel confused about the transaction and other codes or wallet of the scammers.

Thanks a lot that have warned, it is very important and it is necessary to lift a subject in a top that all knew about such type of fraud.

It's really nice. With this method, we may not need to worry about fraud.We must continue to find different methods.

It still falls under a phishing scam. The scammers just clones ForkDelta and try to lure unsuspecting users to trade. And before anyone can trade, you'll need to unlock your wallet. There and then, you're scammed. People needs to be more vigilant when it comes to safeguarding their assets and funds. Btw, Thanks for the heads up, OP.

I'll tell you more. You can not just go and see the value of unfamiliar coins on the exchanges. I generally do not recommend clicking on links from strangers. They can give you a link that looks like a familiar site but is slightly different from the original and you can get a virus to your computer.

We need to do something with these scams, there are already a lot of them, now we should pay attention to the coins, so we need to solve something

This one is a nice catch of a scammer. This is why we have to be very cautious when trading shitcoins
especially on decentralized exchanges. Scammers use different tactics to fall into their trap.

Most people don't take into cognizance the token smart contract. It is a laudable thing that you have noted it and make it a warning to others especially the new comers to the forum.

Very useful information you have been brought to the forum and I highly appreciate for your effort because this is the way we will be avoided scammer , we should be vigilant and willing to inform others ,  so thank you very much and you're deserving for that merit .

You are absolutely right I saw the link and I wanted to act on it but I checked idex.market and I found out that the contract address is not the same, I further as admin on their telegram and they confirm that it is an obvious scam, So every one should be careful especially when those newbies posting links like that.

That’s true, its good to become more careful than to be broke buying that fake coin. Scammers are getting wiser, we as an investor should be more wiser than to them. Learn from a lot of scams experience around cryptoworld and you will be saved from losing your hard earn money.

This is a great Job by the OP, and I hope to see more like this so everyone will be aware about where not to invest. Let’s help each other in this forum and we can all be profitable. Never trust anyone but you can use their analysis as your guide, this will depend on you.

Good job and the scammers are looking for more sophisticated methods to catch their victims, that's something worrisome and I think it's a consequence of the different coins that are in the market bringing confusion with the same acronyms, I think we should reach a consensus on that.

It is because they are really into it of scamming they wanted to ruin some lives and situations of a person who works hard just to achieve the success in life. Criminals are bad and they keep making chaos and getting some asset of an owners because they feel envy and they just want to get money in easy way.

There's been a poster by the name of LarrySmalls that has been shilling the forkdelta MTV for the last couple days.
I could see through the scam right away but didn't know the details.

It's easy to spot a scam.
First off, ANYONE that is offering free "advice" or "help" on a get rich opportunity or "secret" undervalued coins to buy, they are scamming you.
This isn't exagerrated at all, be seriously suspicious of anyone being friendly out of the goodness of their heart.

Also, here in bitcointalk, be suspicious of anyone that is posting with a newbie account that has no merit.
They just flat out can't be trusted.

And, of course, never trust anyone that puts up a link to anything.

that larrysmalls guy had all three red flags so I didn't even need to see the details to know that a scam was going on.

very beautiful analysis. thnk you for sharing it with us and for caring for the community

Thanks for sharing bro so many people would be aware on this.
Scammer nowadays became in-demand they just want an easy profit.
If you didn't look exactly on the smart contract you will not see that was a scam.
You are great for finding this one.

Actually this is a common to see that if it's a scam, but for the beginners it's a useful information to be aware of scammers. This could be help to anyone here in crypto, be smart do a deep research before put your investment.

Those that trade unlisted token shouldn't fall for this trick. If you decide to trade unlisted token on decentralized exchange like etherdelta,forkdelta etc. The first thing that enable you is the contract address.

I think similar things happen on bitebtc on some coin and the exchange has even out poeple on hold to withdraw but can deposit which is a sign of something fishing, and if you try to do kyc you will be put on pending for long but having so many arb coin to scam people , that is why is good to always try all these new exchange with little money and withdraw before you think of putting much funds on them .

Well done, if there are more people who can expose the fraud items they have encountered, then it will be of great help to all investors. These methods and methods are very helpful for everyone to choose an ICO project in the future. If there are more ways for everyone to learn, the number of ICO scams will be reduced.

 I think we should not have greed in these cases. This is a kind of fraud but quite sophisticated. We just do what ordinary people do, do not be too greedy to deal with scammers. I have seen my friends cheated many times and they all started with greed.

Very good investigation. Because people keep learning more about nowadays scamming ways, Scammer start to learn more ways to scam them. Just be careful and when you see its 5x, 10x profit in one time mostly you re in a scam scheme.

Does this scheme work? I get the feeling that people who go to a such kind of exchanges for buying coins, has already understood cryptocurrency a little bit, so they shouldn't make a such type of mistakes.

indeed the greedy nature will always make it messy, and the nature is not recommended to be used in determining the level of profit, because what we will get is only loss, if we continue to follow that desire

Great move!! This is very important and useful information.
I could see information about arbitrage for similar tokens. And before I want to try it, I'm lucky to see this thread from you. To be honestly, if I don't read this thread, maybe I will lose about 5 ETH for that.
You really saved my assets and you are really my hero, brother.

https://media1.tenor.com/images/d5489ca67edac09c6ea0986bbacaf684/tenor.gif?itemid=4663332

You need to look for the project carefully. Your strategy is really unusual and I'm interested in. For this reason, I am interested in your statements. For me it is important that not only I followed this or that principle

This strategy has been on the market for a long time. It seems to me that without it in any way. I also think that not all skam projects can be checked in this way. There are methods much easier and easier, and do not exaggerate

a pretty clever scam tricks if in my opinion. When people are not very thorough and immediately see that it has a good name will then be directly caught up in the scam. Indeed the scammer is now starting to have thousands of ways to find results and certainly as an entry in the crypto should at least be studied crypto seriously and always proposes the analysis of results quickly.

Thanks for spotting this one. You saved a lot of people from investing and bounty hunters from spending their tine and money just to be scammed. I am site that a lot of scam ICO's will do thos especially when this strategy works for them. I just hope that the scam ICO's will come to end as they are ruining the reputation of crypto.

Arbitrage is not as easy as it is front by those creating service out of it!  It require serious capital to arbitrage successfully between exchange and trading platform sometime could spring a surprise in which you may not have control over!

Thanks for the info, once again the crooks to think of something, well that is like you said it once, now a lot of people lose their money and will take a closer look at these coins.

I was almost become a victim of that type of scheme and token used was Telcoin. The OP will give you a link that will make you convince that Telcoin is selling lower half a price at forkdelta compared to Kucoin. I actually was eager to trade that time but I did my own research. I went to coinmarketcap and visited the website of forkdelta from there then search for telcoin. I was surprised that the price showing on the link the OP given and price from the legit website of forkdelta showing different prices. We better always check the legit website using coinmarketcap and also the contract address of the token before attempting to trade.

This thread got my attention and your comment about Telcoin in Forkdelta. I was planning to have an arbitrage to buy Telcoin in Forkdelta and sell it in Kucoin. But now I will not going to buy and I will be more careful and make sure to check the smart contract first especially when trading Dex exchanges like Forkdelta/EtherDelta. Thanks mate, I'm glad I saw your comment.

Wow... Much thanks for this, can you imagine the extent hackers and Scammers go to just to have what doesn't belong to them,
Most times I wonder why don't they spend same amount of time doing those shit for the right thing. Think of people who have victim of such act.

I see the new strategy as a very cheap one and as an experienced person in crypto world it very easy to know that its a scam. Those guys are amateur scammers and I don't see any reasonable person to fall for this except the greedy ones.

Pretty interesting, but still I don't really understand this strategy. So what's the scammer's profit in this case? Does this fake MTV token belong to him or what? I know it's pretty easy and cheap to create your own ERC-20 token, and you don't have to go through any verification to get listed on Deltas, so it seems to be true...

The great declaration, as well as thanks with this information, I am certain presently there should have already been numerous sufferers suffering from ripoffs such as this, ideally with this particular line it can benefit to create individuals conscious of not really slipping to the exact same rip-off.

It's good that you saw and understood it at once, once again making sure that the scammers do not stand still and come up with new fraud schemes and you need to be careful

You always should be careful and check the token contact addresses. If you take part in such garbage, you would lose a lot of money. Always check everything and never trust people that are offering arbitrage or pumping opportunities.

unfortunately, those who were led to this adventure were left without their coins. this is extremely bad and I hope that with the time the market is ridding of fraudsters

That was already old, but we cannot deny that those people are insane and crazy, that hacking was there happiness for their life, but it was sadly those people who are victim of this scam.

Yeah that's a good catch from those scammers. My practice is to use only the link given from their telegram channel and if they will not recognize the listing of their token from those exchanges then I will not buy or invest on that exchanges as we can't be sure of that token. Anyway, we should always vigilant on those info as scammers are everywhere they are pretending to be a legit.

In my opinion, since different tokens are created exponentially, and the abbreviations of these coins become all look alike. We will have to be especially vigilant when buying any tokens on the exchange.

Thanks for sharing!
It is very disheartening that some people will devote their time in doing bad to their fellow humans.
Why can't scammers devote their time in doing legitimate things that will fetch them money, other  than scamming other people.
Humans are too difficult to handle though.

I would not have spotted the difference. I have to be more careful now in buying tokens on decentralized exchanges such as forkdelta and etherdelta where listing new tokens is really easy. Thank you the helpful info.

Everyone thinks like you, this world will not be stealing without fraud, so the society is so we should be more careful in the storage and trading. We should not ignore these shortcomings but see them as lessons to avoid.

This year is really full of scam project, to be able to avoid those scam we really need to keep on learning and update our knowledge and information. to be able to be precisely filter all those scam project.

Nice move mate,the way they do this by changing smart contract and if you're not aware you will get scam with this type of strategy and good job to let this us know about this kind of scamming.

And because of this many new investors are afraid to bring money to this market. We definitely need some regulation programs for this

scammers are innovators you cant deny that, they can always come up with new scamming method to steal people tokens, i think its better to use coinmarketcap links because you wont get the wrong coin link.

Yes, I totally agree with you. On the market a huge amount of fraud. And I am sure that before investing, we should carefully study the coins. Scammers are constantly coming up with new ways to take money from gullible players ..

Well my friend. Thank you very much for the heads up you gave us about this new scam project on the ethereum network. I am amazed by the sheer number of scammers (and scammed people as well) on the cryptocurrencies space  the last two years I have seen so many fake ico and fake platform, it feels really like the old wild west. But connect, ethconnect. They all were plain scams, yet people invested millions of euros and dollars into them. And they still try to scam away money from people. Luckily there are people like you that try to help newbies and uninformed or bad informed people's. Thank you

Yes, this is an old type of fraud, a long time ago, I got caught on it, because I thought it was a chance to make quick money and I did not have time to understand until I realized that these are different coins.

I think I already had seen the same thing in etherdelta once, same name coin with cheaper price but if yu look carefully the contract is different.

The Excellent statement, and also many thanks because of this important info, I know right now there will need to have recently been several patients afflicted with frauds similar to this, with any luck, using this twine it will also help to produce folks alert to not necessarily dropping into the identical con.

Actually, this is not new. We have seen this technique on etherdelta.

Now scammers do everything so invisible that this is just awful. I recently invested in a project for pre-ico and they collected soft cap and everything is fine. The discussion  in chat rooms was always very active and even announced listing at HitBTC. One day before listing, the project was closed and run away with money

we must be careful in investing, not only by encouraging big profits, we can easily get into the trap of these scammers
if you think about it, when someone has a technique to be able to get money easily, for example arbitrage, then why does that person have to invite other people? even though he can use all of his money to make arbitrage himself without any competition and certainly will get a bigger profit
and another, that EtherDelta is the Exchanger I hate most in history

you are really thorough and has a good analysis. This time the scammer does indeed have a variety of powerful ways for those who are not able to do this properly and analysis already takes a lot of sacrifices. enrich yourself with the knowledge of the crypto is the best thing to do to avoid such scammers.

I have been seeing many newbie accounts posting arbitrages on this forum, most especially on the section of the forum and it appears to me that one person keeps doing this almost every time. We really need to be very careful and we should not because of the money we are looking for, now decide to make some mistakes of loosing the little that we have due to our own negligence. Care needs to be taken.

People are running after hype and stupid twitter guys. So there willl allways scam coins and projects. Nnonone can stop this. People want easy money

Thanks for the information, I just thought to buy these tokens on forkdelta, there was a very good price for them, now I understand why

 much token name same, but contract address for each token must be different. so as not to be hit scam, make sure that token contract address will be traded is appropriate, don't just refer token name. we must be careful  :)

I have yesterday seen USDC airdrop worth 200$, after you complete the KYC, you will recedive USDC coin, but not real, the fake one from diffrent smart-contract.

Since it is so easy to make tokens nowadays it is easy to make "fake" tokens.
Also, a lot of the tickers aren't regulated, so you can give it the same ticker.
For example, you can name one token Trust and give it the ticker: TRT
And then another one with a stupid name like Treant and give it the same ticker: TRT

On decentralized exchanges, most people won't bother to look at the smart contract address.
So they will just assume TRT (trust) and TRT (treant) are the same.

Nowadays, people will take a semi successful token then make a "copy" of it.
Sell it for a really low price and get people to buy it up.
It's basically fake products scam from the real world applied to the crypto world.

Yeah, and every bad guy must be using and finding some real lazy strategy stuff to do or we say they do put some efforts just to make money. But once it gets busted they're now ready to find for a new one and so on. We must be very cautious in everything especially if it involves a lot of money.
We can't avoid these type of people in our society so it is better for us to just be very cautious to everything.

arbitrage is a risky act of taking gains by only transferring from one exchange to the other. some exchanges has  minimum tradable amount like hitbtc where you cant sell or buy in small amounts. arbitrage is dangerous you may loss your capital if contract address are not the same but the coin ticker is the same. stay away from it specially newbies

It's really a very useful post, although I often check out the tokens on the DEX. Whenever I send tokens to them, I always check the smart contract information before proceeding to the next step.

Interesting example, and tricky scam.
Was interesting to read and useful for future. +1 Merit from me.
Good job!

You have a very good eye, that was difficult to catch and you did, catching those kind of differences can be very difficult for a human because we are only seeing a bunch of numbers and letters but for a computer finding the difference between those two strings is very easy, let us hope that no one else falls in that scam now that you have brought it to the public.

Thank you for fresh information about scams. This thing is so annoy now. People still should to be more careful with investments.

You are very keen to see the smart contract that is different between forkdhelta and idex. I haven't even thought that far. and I am very sure that everyone hardly cares about that, because all they want is to withdraw quickly so they don't care about smart contracts. very helpful topic  ;)

When will growth begin?

seeing results from airdrop by offering only $200 in rewards is very unlikely, so it's very unreasonable for airdrop. and my advice is not to be easy to believe in airdrop, especially if you have to do KYC, because your data can be misused

With the help of such nuances and inexperience of new traders and investors scammers deceive us. The author correctly said, carefully read the information about the marker you want to buy.

On that market, I would not sell anything

You say it right. I never look at the names of tokens on decentralized exchanges. I use only the names of contracts, and then add the link to the browser bookmarks.

now very much fraudulence is done, it will be because the brand is only concerned with profit than anemo investors against cryptocurrency, unfortunately there are no strict regulations that govern

Thank you very much for the tip, of course scammers are very well developed and once again prove that you need to check another wallet smart contract

It happens a lot, there are so many coins out there which are pretending to be coins from projects that are already successful to get people to trust them and let down their guard. If you ever come across coins like this that you are not sure that you can trust or that they are not who they say they are then a good way would be to check their smart contract

When doing arbitrage trading we always have to check if it is the same coin and we have to check
their contract number. This is not a new scam strategy as I saw such threads earlier. Anyway, we have
to be cautious when we notice such threads and inform others about it, like you did.

Thank you for the warning! I think that it will help many people not to get caught by scammers.

Thanks dude, this a good catch by you...
I hope people won't fall victim of this trap, the best way to trade is to ask the admin on telegram where the token is being traded.
Thanks once again, its really help.

so i will ask you sir, what about the hard fork scheme like BCH has done, they split their coin, are that the scam scheme like you say too?

Good that you brought this information to the public, I hope nobody else will fall for this. Indeed, you do not always pay attention to the address of the smart contract.

useful information, not only for new traders, but also for experienced traders, in any case it is necessary to be more attentive in the cryptomir as there are many who want to deceive you.

Analyzing something before doing is the most important part for us to be safe in crypto world, especially today where there are so many scam coins/project that keep on popping. Just like what you mentioned, i also had aver met the same coins code in different market but it also has different contract address.

Scammers keep finding new strategies to scam people so we need to be aware while entering new sites.

Check the feedback of the site when you are not familiar with it,check the scam accusations section for any scam attempt before.

yes they will never stop looking for the latest ways to cheat someone, in my opinion if there is a new site suspicious it's better not to visit it. there are still many new strategies that will emerge to try to cheat people, yeah keep alert.

the analysis which is quite well done. This will give the solution and prevention for unwanted stuff like the scam is increasingly just a lot going on. When the scammer is becoming increasingly clever in doing the action then it should at least be able to read it and can master more than scammers.

very smart, I like what you describe above. indeed, as a trader, you must have good and correct trading techniques, one of which is to choose the coins to be invested later because it determines the benefits that will be obtained later.

The higher the enthusiasm of crypto, the higher the level of selfishness of people to commit acts of fraud against the crypto community. The analysis is a very appropriate alternative to be done before joining an ICO. Be vigilant in choosing ICO carefully in selecting every information data that is in the ICO and also analyzing ICO performance in achieving its objectives, ICO that is a scam is usually not very good at its performance.

These coins are very much on EtherDelta and ForkDelta. For myself, I made it a rule to go into the search, then "Others" and there to use the address of the smart contract to search for trades on the coin I need.

Scammers are very smart. You need to be alert and pay attention to various trifles, such as auditing smart contracts. Most likely, I fell into such a trap. Thank you for the above scheme.

Wow thanks for the heads up

Nice information how to avoid our balance from scammer, many people will doing the same thing for sending their asset to forkdelta, but if have transaction for selling I don't think so will be scam project and keep it safety.

You always need to pay attention to the smart contract. I mean how can you risk your funds without checking the contract address? This is the most important rule, because otherwise, you will lose all your tokens and money.

Since I read this announcement, I am more careful and do not want to be careless in making transactions. Very helpful for all of us, of course, with hope that there will be no more troubling fraud cases. I really appreciate and thank you. And I will always remember.

thank you sir, this is information that is useful for everyone, they must be aware that scammers have mushroomed in cyberspace and we must be more careful

Thank you for giving us the heads up. I felt disappointed by the new scheme attacks of some scammers. I hope those other investors are safe from this. If we can make petition to delist that token on the forkdelta, we can avoid this and any further attacks.

In order not to become a victim of fraudsters, in each such case, if you have any doubts, you should always start by looking at the address of the contract, if the address of the contract for different coins is the same, then this is the same coin. If it does not match, then this is a completely different coin.

wow thanks for the information i am also having a doubt is some kind of coin with same issue but i will try to check like the way you check in that coin. i hope they are not faking anything.

Wow, thanks for that information I guess I might help myself now to figure out some techniques of the scammer to protect my self through them while I am securing my tokens in the right place.

Yes indeed, now fraudsters have become more cunning and are trying to lure money from people in various ways!

That's the reason why newbies cey on telegram groups for dumped prices on external exchanges. Contract address is copied from original source and they are trading between each other for making volume for trapping token holders who want to sell there. It is necessary to double check the  coin symbol and contract address before trading.

You are right with detailed analysis. A variety of ways scammers do to justify what they are doing their purpose is only to gain profits, of course, our level of accuracy is also tested whether we are easily trapped as easily as they imagine both in terms of buying and investing in tokens and so on.

their goal is not just people who have had a lot of experience in investing crypto. they are very clever by perfecting all aspects that can be practically almost no scam. for new investors with little experience it will be easy to be fooled.

That is a very good analysis there. Scammers are everywhere trying every possible means to fraud people of their hard earn monies. They are the main reason people are leaving the crypto space  and the market is dying.

You have to be really vigilant here in the crypto world as scammers are always constantly looking for loopholes in the system they can leverage on. On the internet you can however be unable to trace these scammers, so you have to check and recheck  before carrying on any transaction.  Above all, most people get scammed as a result of being too greedy. Obviously, people fall for the bait being set up by these scammers as the bait are very attractive and seem like a life time opportunity you don't want to miss out on.

Interesting, people are really smart trust me. If you are not someone who is deep rooted in research how will you know this. We have to be careful with whatever we try to invest in in order not to fall to their pranks. Research is key in this world of ours leave it behind and  you are doomed.

It is not really new scam strategy. Arbitrage scam is very old scam scheme it is just scammers start this with crypto currencies, they always say their coin will make you rich, that they have best method to make money but if that is true why they don't use that method which will make them rich.

Scamming people way now is improvement and they discover every new way . If they improve of what they do we need to have more improvement to protect ourselves from the scammer because money is not easy to get. Install what ever anti virus any application that can protect your account or even the wallet from any supicious site or people. The security will become first into you.

You have found something extraordinary like this so many people might not expect such a thing to happen, indeed, it is easy for us to register tokdhelta tokens so that it can provide a gap for anyone who will act badly on some tokens and the impact will harm many people.

permission bookmark for further analysis.

the most important thing in my opinion is not to be easy to believe and want to give our private key to someone because that is definitely fraud, because in cryptocurrency we are always overshadowed by things like that so we must be prepared to face it.

very useful information, I hope everyone will be more careful about this kind of trap, to be honest I just found out that there are new fraud techniques like this. fraudsters never run out of mind, but we must always be vigilant!!

Before trading, you need to check your contract addresses. Or you can swindle very easily. There is no other cure for being careful.

yes, because just being careful can still be tricked and maybe those who have done various ways to avoid fraud are still affected by fraud.

now a lot of fraud and they do various ways to cheat so that we sometimes can't do anything so we are fooled.
it's hard to tell the difference, because fraudsters are getting smarter.

It is only a greedy person that would fall into the hand of the scammer,be very sure with your analysis before you buy

Thank you for the information you provide because this can add to my insight. We must be careful in doing things because these scammers can occur everywhere. Scammer indeed makes many people nervous and makes people lose their tokens.

The technology grow over time, so scam strategies also grow and the best way to protect ourself is that improve knowledge day by day

Thanks for the information. It's important to pay attention to the contract address of a token when trade on dex. Scammers are everywhere so be careful before you make decision in crypto investment.

This kind of thing has happened a lot and certainly not a few losses. And when we get fraud there's not much we can do because there is no place for complaints. But this return to us for what must be done must be careful and not easy to believe in others.

I don't know if people just see tokens or Coin on an exchange and stat trading it without anyproper research?  I don't do that. If I find any token or Coin attractive,  I make research on it and make sure I get the correct exchange where it is being traded.

Thank you for exposing scammers, I wish we can have a way of exposing their plan all the time,that will save many from been scam just like this thread will surely save many.

giving our private key to other people was big mistake.they can access our wallet that contain any tokens or coins.everything can be done if they access our wallet.bad guys will steal our balance and sell it.

Really tricky approach, I have not yet come across this, but I will be attentive next time!

You might be right because greedy people are usually the victim of scam but not in all cases because no body go through sh*t than good people who's pure of heart.
With that been said, market analyses result are not always 100% correct and the best thing to do seeking for the forum advice either in other not to go wrong.

Thank you very much for the information, we will share it with other possible people.
 :)

Which has been an issue before, providing private keys was a big no  inside crypto industry knowing that it's our security to keep our assets safe, by giving this information we are also providing hackers/scammer's the rights to sucked and empty our wallets, if they improved it's best also to do better adjustment to be more secured from them.

Private key is everything for cryptocurrency, even once we let it slide from our sight then it's compromised, there is no more protection available to keep our coins safe if someone has a hold on our altcoins, the best thing we could do to protect our coins after that would be, directly move our coins into another wallet ASAP.

Thank you very much for such an amazing scam alert information, it reminds me of the same problem i fell into sometimes with a particular token i could not remember the name now, i was scammed the same way,however this information has made me to be alert this time. Thanks

Fraudsters are not asleep.  Also one time, I almost fell for this trick.  Now always check contracts.  Be carefull.  Thanks for the analysis.

Fork delta do really serve as a trap, I can't rely on it as if the ICO is finished, they will already list it on fork delta and it will dump the price of the token that we have. So it is not advisable to do it in this way.

Nice one. I nearly fell for a similar scam like this. Someone sold tokens to me having same ticker but different smart contract from the original token. I was lucky I had to check the smart contract before making payment, then I discovered it was not the main token. Why are some people actually heartless, the rate of scam and insecurity in crypto space is delaying mainstream adoption.

Since any one can easy list on some decentralized p2p exchanges, it has made it easier for scammers to just list any coin, by creating the fake ones.
This is more reason I have the format in which coins are listed on exchanges, such as, Idex Allbit and the likes before trading.
Despite being decentralized, you cannot just list on your own, without the permission of the team.

People have fallen victim to this either as scam or by mistake, similar tokens are mistaken for each other and has left people with worthless tokens in the process. So let's be very careful before we okay any order.

I thought it was obvious that the first thing you should check by buying a coin on a decentralised exchange  are the contract addresses. Because as you mentioned there are too much scammers that are trying to trick you.

Private key is like our personal account in bank. If we give our information or password to anyone they can withdraw all our savings into our account, same goes with the private key, we should keep it in a very safe place were we are the only one who knows about it except if we want it to tell to our Wives or most trusted person we have.

Thanks for your investigation :)
Crypto world now is just like Wild West - huge opportunities, huge risks, plenty of different scammers around. One should be extremely careful here.

The fact is that for scammers, I also need a lot of work. I’m a comma on Vito and they get big profits. But these people must be with a certain temperament, because the essence of the person to, who is engaged in fraud, at least should be sneaky. But nevertheless, we must be aware of the strategies of the scammers, in order to avoid their insidious plans.

I saw this scam method like a month ago. It was directly appealing to greedy part of mine. I was almost fall for that but checked the contract later. That was a very close call.

Just want to say thank you , the crypto community gonna be better with people like you

When trading tokens in the decentralized exchanges, i never use their token name or symbol.
Usually i use their token address to make sure i trade the correct token with my ETH.
Scammer won't stop trying to hack our coins, so we must extra careful when using our coin.

Quite similar mistake I did before. The BCH and BTC logo is almost the same, that's why I send BCH to bitcoin address. Because of that, I lost 100 dollars in one wrong moves. Lesson, be educate yourself enough about this complicated online market.