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Very disappointing! I wonder why there are so many tokens with the same names on the blockchain network, I have seen so many scammers take advantage of new projects by creating a scam token using those new project names! Many people have already lost money because of this trick [mostly beginners]. If a new project creates its own token and becomes popular, scammers will create a fake token using the original name of the new project! So if beginners do not know how to do in-depth research then it will be easier for them to lose their money by buying fake tokens.

The creators of these blockchain networks have used great knowledge to create these technologies and so far they work perfectly, so why not make an effort to improve them so that they can limit only one name for new tokens to avoid fraud? I think if they can do that it will also help add value to the new project because scammers will no longer have the opportunity to create a fake token using the details of the new one.

What are your thoughts on this?

you are perfactly right. This is very good concern. So now we are coming up with a fork of Tron . Public blockchain where no one can create a duplicate name . A coin or smart contract has been created once another won't be able to create same name . And most importantly this blockchain is for community. Whatever gas fees or transaction charges taken when assets transfer from one wallet to other . That fees goes to platform or miner. But we are coming up with an idea that fees should be distributed to platform yes miner yes and most importantly with contract creater a coin creater community. Coin creater community is actual benificier because if them all this transaction happen so here that fees wil be share with 3 part . 1 platform 2. Miner 3 smart contract creater community.

This would be great! For I have seen fake tokens have the same name as the tokens they copied but the contract is what becomes unique. But it will reduce fraud by a very large percentage if there will be improvements to make the token name the unique same as a contract address.

Yes, buddy! It's not bad to use a different name but the same ticker, it's just like using the same website name but a different domain for some reason. At least it would make sense to use the same ticker rather than using both the same name and ticker of another token because it may decrease the value of one project.

This is a basic concern in my opinion. But this space seems to provide freedom for anyone who wants to innovate in the field of blockchain technology.
Therefore, any project that comes up with a good cause is bound to get something good in this space.

Absolutely! And that is why there should be something to protect the value of good projects. Because when a scammer copies some details of a good project including the token name, it's obvious that some percentage of the people who follow that project will buy the fake token which will lower down the original token slowly.

Buddy! I think you have not understood what I mean. Follow this example; If you are using Coinsbit exchange just check their Telegram channel or Instagram account to see their new tokens which they list every single day! 50% of those tokens are completely fake! If you want to confirm that, track those tokens by searching them on google and you will find the original project which has been copied by many of those tokens. That is why after 1/2 months if you go back to coinsbit and check that token you will see it has 0 volume.

Anyone who will buy tokens or coins from a project will consider many things, such as the seriousness of the company that produced the tokens, the history of the teams involved in the project.
So, it will definitely be known whether it ends in a scam or not.

Sure! In-depth research is mandatory before diving into a new project. Investing in any new token without research of the company/team behind it would be risking of money 100%, and most people regret it in the end.

With cryptocurrency being decentralized it is impossible to prevent this from happening. Exchanges, block explorers and wallets could implement some safeguards but since they don't control your private keys it is ultimately up to each individual to check that they are interacting with the correct token contracts. When I add a custom token on Pancakeswap there is usually a disclaimer stating that it might be a fake token and you have to check a box to continue trading. If these measures aren't sufficient and you are still falling for scams then you probably should stay out of DeFi.

Good, but staying out of DeFi will still not be a solution for both beginners and project owners because imagine if 50% out of 100% traders will stay out of DeFi because of this issue! Maybe new projects should make sure to put the full details of everything that they officially own including their token(s) so that it can be easy for anyone to get important things like the contract directly from the project owners themselves.

I'm not sure how it was allowed but yes sometimes it is confusing and some people really do get victim by a lot of scams because of this. Maybe let's observe well especially to this kind of things since one mistake could cost you really huge amount of money. I've seen many coins that were alike of the original one I'm not sure how does it happen but if you managed to buy wrong coin it will be gone.

Projects can share the same name with different personalities, this isn't in the offline world where you can sue someone for sharing your company name, this is the blockchain and also even if you come up with a fresh name another project might later share the same name with yours but the only thing that will be different is utilities and of course smart Chain or smart contract

It is true that scammers now come up with many projects with the same name of big project to scam Money. But usually its symbol can be same but The contract address can't be same. So you have to be careful and verify the token by contract address

Yes, buddy! We should observe these things because one mistake can lead to unexpected loss. And it is very simple to create a custom token because it's just a copy and paste of one code! Very confusing, I wish they do something in the future to allow only one token name just like how they allowed one contract address.

It's the smart contract address that you have to compare if you want to buy the right token. It's a common mistake when a newbie goes to a swapping platform like the Uniswap or pancake. The smart contract address will exactly pinpoint the right one. This is why you need to copy-paste it on the search box before swapping.

There is nothing that will regulate these Tickers but probably it should have been part of the smart contract codes of the swapping platform to avoid mistakes like this.

I don't know if you understood what I mean, buddy! I am not talking about the same company name, but the same token name. It does not make sense to have the same token name with another token that represents a different project! Blockchain is all about new ideas but not copy and pasting other ideas!

Imagine if a developer copies a name from another token, do you think their services/products will be exclusive?

I agree with you. The contract address is the important thing that saves us from fake coins. But I hope in the future only one name per token will be allowed because still some beginners are losing money with those fake coins. Maybe it would be good if each project will put their token contract on their websites so that it can be easy even for beginners to trade the right token.

I also think that this is kind of a flaw of blockchain projects that the names are not unique and can just be used again if u create a new token on a blockchain no matter ho many of these projects already exist. This was not that big of a deal like a year ago but with the rise of all the dexes that started with the release of uniswap it can now be a real problem especially for crypto beginners. Almost everytime now when a new and hyped project is about to be listed on uniswap or pancake swap or on another dex scammers are creating pools with a token that has the same Name and abbreviation than the "real" one. Now if you are one of the unlucky dudes that buys this token instead of the real one then you just lost all your funds.

Why not, right? Isn't it because we are in a decentralized system that no one can stop what you can do? That's just the disadvantage or the drawback with this system is that it make it easy for people to scam each other and those people who hack and destroy other people's lives are benefiting from it. That's why the best thing to do is to educate people on the possible scams that can occur.

Sure! I remember I wanted to trade one token in Pancakeswap and I opened the official site of that token but there were no contract address or BSCscan link of that token! I searched that token on google but I saw other tokens "copied tokens" so I decided to contact their team through Telegram and they gave me the contract address for the right token!

THIS IS VERY BAD!!! At least they should attach their token contract on their website so that we can easily copy it and paste it on DEXs.

Then maybe they could at least make something similar to domain names. I mean maybe one project can pay some amount to register a unique name and use it for unlimited projects so that other projects can not use that name again. But I do not think if this will be possible in blockchain, we just have to help beginners so that they can avoid losing their money by dealing with fake tokens.

This is a very BIG disadvantage of a decentralized system! But everything has a good and bad side... So you are right, we just have to educate as many people as we can so that we can help them to avoid scams. Because it's like every time when a new project is created, then a new scam will follow within a few days, lol

Who allowed it? Please don't misunderstand, clone tokens won't be agreed upon by the team members of the real project. If scammers use the same names for certain tokens, they use it to attract people to buy. Moreover, the names of top tokens, people sometimes just buy the tokens without any research because they are already trustable.

Hi buddy, I meant the dex system allowed it [you can create a token with any name in less than 10 minutes in Ethereum remix, easily, and low cost]. Yep, we have to make good research so that we can avoid buying fake tokens because many scams are just copying and pasting solidity code for any good token and they benefit from it while traders are crying.

If the copycats just make a thread here, it would be better to just report it.
If it has its own website, better report it to the web service being used.

It is sad, but scammers will always be scammers regardless of their morals outside crypto. It would be best to reach out to the original project of whatever token it is and let them know that a lot of fake copycats claiming to be them are scamming or worst, phishing a lot of people.

Yeah. This is the current problem of smart contract since anyone can mint new token without approval of the blockchain owner, Scammer can easily copy the name of a trending coin to mislead newbie investor. IDO and AMM dex is very dangerous for beginner because they can easily purchase a fake token by using a fake contract address. I wonder if blockchain devs will address properly. I'm aware that they have a token verification for established coin but this feature is not available for startup that's why it's the common target of scammer.

Such a problem with fake coins having one name is found only on DEX and the presence of a contract in this case is mandatory. Therefore, when I do not find a contract for the coin I am interested in, I go to coinmarketcap or coingecko and there I will definitely find what I was looking for.

Thats correct. New people tend to forgot the basic of smart contract and some stuff about the network of chains. If someone copied a project it so easily to dessiminate and spread a fake one without even noticing the difference between the two. I usually encounter these scam tokens on telegram and twitter where they give some giveaway to follow or join them and people whom not checking can be blindly scam due to massive members they already recruited.

Too sad that these scammers can easily make it and do it all over and over again.

the more products there are, the more imitators, because they don't need to pay a lot of money to sell in the market, this is a form of creativity of their people to avoid plagiarism, if they are caught plagiarism they will lose big with big fines and the possibility of harming consumers, everything is up to you where you want to go

Fake coins that are copied the name of the real coins will not advance forever because they are made by irresponsible scammers, they deliberately make it in order to get money from others and then run away after they get money from investors

That's true, nothing we can do about it. I will never trade any token on Dex without receiving the contract address from the owners themselves because there are scammers who copy a token and they list it in exchanges that support fake tokens! Lol, we have to be careful.

It's still every investor's part and prerogative to consider and check everything before investing or buying tokens. Scammers are everywhere and they could fake or copy everything just to fool people so we still have to be skeptical and do our parts. We should always be smarter than scammers.

There is no limit in smart contract to choose any name . now it's just a matter of developer ethics. surely plagiarism or copy cat coin with the intention of deceiving others people or scam peole will also not be listed on websites such as coinmarketcap or listing coin website. but actually the blockchain also provides clear details for the user to make sure of it all. such as contract addresses.

Good advice! Sometimes we have to help some valuable projects by reporting scammers and phishing websites, if the project has a good team I believe they will work hard to inform its users about those who want to destroy their project.

And it is very bad! Because of no limit, it's now the biggest trouble for a lot of people to lose their money by trading fake coins. Trust me, there are some exchanges that are listing those fake coins. Smart contract itself is not a solution because still some beginners do not know much about finding the real token using a smart contract. All in all, project owners must have good communication with their supporters so that they can help them to avoid fake news, fake product, fake service, and fake token!

You are right buddy. I've seen this only in DEX projects. I agree with what you said, finding a coin from coinmarketcap and coingecko is really good because they list only original coins and tokens. I think we should recommend this to beginners, it will protect them at least.

The ERC-20 standard allows you to choose any name of the token, only the address of the smart contract will be different.
I wrote about this for a long time, how not to become a victim of scammers

(GUIDE) How to trade on uniswap correctly
https://bitcointalk.org/index.php?topic=5270415

Therefore, be careful when buying or selling tokens.

Yep buddy! They copy an original token, they create their own token, they pay for promotions on Telegram groups, and finally they earn a lot of money from beginners! Very sad. I hope in the future, DEX system will have more protection about this issue!

Sure! And sometimes scammers are too clever because they will spend a lot of money to promote their fake tokens in Telegram groups, Twitter, etc... but in the end they will run with a very huge amount! So sad.

Thank you so much! I will read your post and also share it with my friends who are beginners in DEX.

At present it seems to have become a trend. Because now different coins are being made in the name of the same coin, maybe before or after something is being added. In my perspective anyone who is going to work on such a project is more likely to fail. After all, such projects are started mostly for scammers. To avoid it, should be careful about smart contract .

That is one of Ethereum disadvantages imho. Contract address is more important than combination of contract address+token name. Strange that deve did not forseeb that scammers will use that trick with names.
Im sure that a lot of people got scammed with BTC tokens on erc-20.

Sure! At least the smart contract for each token is unique and that is what saves us from scam tokens. Though scam tokens still benefit from beginners, I hope in the future, DEX developers will put an eye on this matter.

The reason is simple, this ecosystem is unregulated which means  anybody is free to do what ever they like which should not be happening, by the way i think this whole idea of open source is also one of the reasons why we having these problems of copy cats. It would be a good time to welcome regulation to cryptocurrency to have order here, if not cheaper scam coins will keep gaining while the real projects don't see the investment to help them grow.

Of course. Many real projects are failing to achieve their targets because of copycats. The idea of DEX is very good, but in this part, they'll have to do something in the future so that they can protect real projects and investors too.

Yes buddy! We have to be very careful because scams are copying real projects almost every day! Many people have lost money because of this problem, and the saddest thing is that scam projects keep rising day and night!

Absolutely right! Many people are saying that the contract address is different so we can avoid fake tokens! Yes, we can, but beginners will still be scammed because they are not yet good in differentiate the contract address when they want to trade the real token! I hope too that the DEX devs will do something about this issue, people are losing money.

That's really annoying but we can't avoid the fact that scammer is always everywhere, they are also upgrading themselves and developing to much more capable scammer. That's why we should be careful anytime. If you invest in a project, don't just look on their token names but be sure to check the right contract address of the project because fake/scammer can't make the same contract address with the original project. Always be cautious.

Yes, what you say is true.
But the opportunities for those who want to commit fraud seem bigger, especially if beginners don't understand how to do in-depth research then they will lose money by buying fake tokens.

It will be better if etherscan or bscscan notify us that the name of a token is the same as the existed tokens then we can be more cautious.
most of people didn't try to recheck the contract and become careless but if the etherscan or bscscan can put some small red text or something like that, it can be very helpful, maybe in exchange sites too they should put that in their website too since there are many cases like this.

These suggestions would be very helpful to avoid fake tokens because every day new valuable tokens are being created and scammers keep copying them! If they will not do something about this issue, in the coming years some percentage of people will fear DEX system and it will be very bad for real DeFi projects.

Good for your friend to check information first, it allows him to verify the legitimacy of the project, can't deny the fact

that scammers will do everything for the sake of money. And if you are not careful you'll lose right away without knowing

that you are already being victimized, sad to say that you can't do anything once scammers get your money.

This is a decentralized environment and the functionality of the systems and tokens is not fixed, more precisely, the same name can apply to two separate fields and the government is not here to check for plagiarism or counterfeiting of documents, the token sector is not legal, once the law is out of control, it's very common for similar names to be created to cheat. New projects involved in similar cases are many, they are lacking in ways to protect their rights and users while old projects enhance this feature a lot and know how to notify to be alert

you are right, but what the OP said is also true, all projects that duplicate the original project often confuse beginners and think the project is original. As knowledge goes we will know where to find information that can be referred to as a guide.
For example, Token A duplicates the Token B project. While the implemented project is listed on several exchanges, you can refer to it at CMC by looking at the contact address listed.
So that it is quite easy for beginners to find out which Token is called genuine. Therefore, at this time we can't blame Blockchain with the system being organized quite well but some beginners often forget about it due to the lack of knowledge about the project.

So sorry friend. It is very confusing because a lot of people will start to be careful to check the contract address after they got scammed at least one time! I hope to see modifications on DEX system in the coming years, I hope this issue will be fixed as well.

To be honest this is a problem all over the world, after all it is not uncommon for a successful brand to have to fight imitations with similar names or even with the very same name, so while this is without a doubt illegal it is not as if the people behind those projects do really care at all about it because they are thinking on scamming their customers form the beginning, so if anything that is the smallest of their crimes and while this is a problem it is obvious that it is not going to disappear.

It is really getting out of hand nowadays, and it is even far worst if the token is only listed on DEX like Uniswap or Pancakeswap, with mare searching of the token on bscscan or etherscan, many tokens of the same name pops up and if the user is not careful he ends up buying the fake one. Even before a project gets listed on those Dex, scammers can create a fake token with same name in order to scam uninformed Investors. Not only that, there are many tokens which really doesn't look like scam having same name on coinmarketcap and coingecko, even same symbol, all these now shows that, before buying any token endeavour to visit the project's Telegram group, and get the contract address, the trading link, coinmarketcap link or coingecko link, so as to get the right exchange it is trading on or to buy safely.
Back in the days, If I remember vividly, there was a project that had a symbol right from the onset the project was created, but immediately it was listed and the team realizes there was another with same symbol, they had to change theirs to another symbol and perform a token swap, this shows a team that is serious but nowadays it isn't so.

I have been part of a project that had the same name with 2 other projects, so I can clearly say that it exists. It wasn't even just the short version, it was the long version as well, and it was basically the same. However you have to be very careful about it, you can't make a copy of a huge one, for example if the same name is not in the top 1000 then you can definitely do it, but if it is like for example "bitcoin" then no, you can't put the same name on a coin.

It doesn't have to be even like that, it could be anything in the top 200 and you will be automatically considered a scam, which is why you should not be there at all. I suggest finding a unique name though, it is a great part of branding and if you are big enough then you will be listed at the top of google, and people could find you a lot easier that way, and help you do ads all around a lot easier.

There is no agencies to monitor the crypto currencies and there is no restrictions for anyone to create a project with their desired name but they can't able to list the project on reputed exchange if they are creating a project with the same name of an existing project which makes the new clone project to be zero value but scammers just use the popular project name in the prefix or suffix to pretend that they also popular.

Sometimes I laughed when investors and others crying that crypto regulation is too tight but what happens to idiot who just sit behind their house doors and do things that can easily sweep people's money. How dare you create token and name it Elon tech, isn't that vision less and pointless?
If government finally put their eyes on crypto environment, it will put a stop to most of this shitcoins as many will fear going to prison. We need good project with something to hope into.

I don't think that's possible, in crypto world there is no limit for people to create a token, it can't be done as you mentioned, the best way to avoid this is to learn to know the real token, there is no blockchain upgrade to avoid scam tokens .

Moreover, limiting only one token, this actually does not provide the best chance of crypto stability, that's why we need knowledge if we intend to enter the crypto world, and it is not wise if blockchain only allows one token that lives in crypto itself.

This would have been a great idea, the only issue with this is that the blockchain would seem centralized, cause in a decentralized world or blockchain anyone is free to create any token without any restrictions of not bearing the same name/ticker, i believe the des must have thought of this cause the rate at which scammers are trying to steal money lately is alarming, but there's not much they can do cause adding such restriction will only make their chain seem a bit centralized and not free for everyone.

This is not a drawback of Ethereum, but a drawback of decentralized trading. Although probably not. An illiterate user will still lose money.
You can hardly buy fake tokens on a centralized exchange :)
The decentralized market is not subject to control, so you need to be doubly careful.

The fact you pointed out about many tokens having the same name is quite true and aside myself and you, i believe that many enthusiast have lamented bitterly about that too. What i see there is that it will not be flexible for the Blockchain to say it will enforce naming uniqueness because that will entirely not be cool. So in as much as that is something we cannot avoid, its left for everyone to always do there due diligence on order to know the right assets they are seeking for.

and it's been booming lately. suddenly a coin or token goes into the wallet with a ticker similar to other successful projects. the price that looks promising will definitely make ordinary people think it's a lucky gift, even though we have to be careful, sometimes if you want to sell it there must be certain conditions, for example logging into a website by connecting your wallet. don't do that or the asset of your wallet can be taken by fraudsters.
even though there are many names and tickers that can be used to name a coin, so we have to be careful and don't be easily fooled, check the address contract. to good to be true, we have to think logically here, where would someone give out free money when we didn't do anything?

Some altcoins have similar name because they are created from a fork. But still, yeah shit fork with shitty features stealing the same names. Others are made just to scam people. Most of the altcoins that are complete clones of other coins are shitcoins. But if someone falls for the scam or invests in the wrong token, then he sadly deserves to lose everything. He probably invested to get rich quick. If he probably had intentions to make long term and reliable investments, he would have done proper research and avoid those shitcoins.

Please enclose the source where you get the information, buddy.  ;)
DEX system didn't said the same name, it only stated any name. You cannot judge that statement agrees with clone tokens or tokens with the same names. You must have more strong proof to claim DEX system allows it.

You are right buddy! But we are talking about a digital business [blockchain]. There is a big difference between copying a business name for a physical project and for a digital project. In DEX, I can just wake up today and create any token then name it the same as an existing DeFi token. But I can not do that in a physical business because most of the company names are registered by the government and can be used only by the registrant unless you use that name in another country.

Yes, this happened to me many times but luckily I doubted the differences in prices and that saved me! Scammers are very active to track new projects and copy them, I think we should be very careful and if possible to get the contract address of a token directly from the project team.

I see some new projects with unique names for their tokens but after they become popular scammers they will start taking advantage of copying and reducing the value of the project, lol. This is sad, sometimes investors will avoid even the real project that would have benefited them if the project had not been copied.

The developers of DEX should work on this matter then. They've made Dex limitless for anyone to create tokens as they want but trust me, scams will decrease the value of Dex if the devs will not start monitoring DeFi tokens at least to reduce fraud.

Lol, yeah! Sometimes it's funny and disappointing too, we work hard to earn money but some people just steal them easily with just a simple COPY & PASTE code!

I agree with you 100%, if the government will put their eyes on crypto, we will have good projects in more than 95% at least because we will have some regulations in creating new projects.

I believe if the Dex devs discuss this matter they will find a solution! Tech can be upgraded though it may take time. I did not understand what you meant by "limiting only one token". I think it is meaningless to have 5 or more token with same name... Example; 5 different projects with different services but one token name! How will those tokens be listed in exchanges? how will investors trust such projects?! So I meant limiting one name per token but not limiting the token number per project. Tokens with the same names will give scams the opportunity to steal money, but a unique name per token will fight scams.

Then we have to be more careful and educate beginners about this matter. We have too much freedom and it affects some people who do not know much about crypto!

Sure! I have seen a lot of such tokens and sadly they keep increasing every day. Of course, we just have to be careful and make good research to make sure we deal with the right token.

Trading shitcoins is like giving our money to scammers easily! Getting rich quick is another problem for many people to dive into a cloned coin and lose their money, so we just have to be careful so that we can invest in reliable investments just as you said.

Buddy, let's be honest! What does the word any mean? ;)
Obviously, it means anything! And anything can be something similar or not similar to an existing thing! This means you can create your own token using the name of your project, then I may like the name of your token so I can use it to create my token too! Because Dex allows me to use any name, "not a unique name". So I don't think there is a difference!

New people who got tricked by this cheap trick will learn an experience that they always have to be careful doing transaction in crypto space. We all know creating new coins is really easy and the name could be similiar but the contract address won't be the same and must be unique. This kind of scam is easy to avoid, sometimes there are more rude scam like hacking or pasteing wrong address because we've got virus on our computer. So stay safe because bad guys are everywhere in crypto

Yes exactly agree with the op. This is a very valid point and not one but many peoples has faced Scams just because of this thing. Yes it can easily be identified with the smart contract address but not every one know about this specially there are new traders coming each day and this make then getting trapped in scams.

A few years ago, I lost some amount in a similar scam. After that I am more careful and transfer the tokens only after confirming the smart contract address. But at the same time, I don't want to blame anyone. I should also take a part of the blame. Should have confirmed the address before making the transaction, as everyone knows that there is no dearth of scammers in the cryptocurrency sector. And the worst part is that I made the mistake despite having so many years of experience with cryptocurrency.

Yes, buddy. This is very bad because still many people are losing their money on fake tokens. Dex will be amazing if the devs can update their system and solve this problem.

There are some tokens with completely the same names! You can check some tokens from Coinsbit exchange then search them on Coinmarketcap and the original token will appear [same name + original website]. Yes, we have to be careful when making a transaction so that we can protect our money.

Trust me bro, this type of scam is cheap to senior traders only but not to beginners! It's true that the contract address must be unique, but that can't help a beginner 100%. Because some coins may be cloned 3x - 5x so there will be 5 tokens with the same names but different contract addresses, which means this will still be hard for a beginner to find the real token. I still recommend that each project should attach the contract address of their token to their websites or Telegram so that it can be easy for beginners to deal with the real contract.

To anticipate this, I say you have to pay attention to a few things before deciding to buy a coin. I think we are lucky as active participants in the bitcointalk.org forum, because in this forum we are also reminded about scam projects. A recent example is BetKing.io

Well, nowadays, quite a lot of scammers use the same name to trick potential investors. however, this doesn't just happen to coins, even phishing sites use the same method. however, nowadays scammers are very easy to imitate something, or even make something convincing, because of this, we as investors need to do research to avoid choosing the wrong coin.

however, in addition to having extensive education, a good investor needs to really do some research on it. however, this kind of thing happens a lot to new investors who are in a hurry.

I received a lot of fake tokens through airdrops these are tokens are created to deceive investors, if you are a true Cryptocurrency investor you know that the only way to differentiate from a real to a fake one is through their smart contract, because the smart contract is the issuer of the coins if the coin was created through a smart contract, if not download the official wallet from the coin's official site.

I know what you mean, but I am trying to let you know another view. Look below carefully!
Implicitly, yes Dex allows the same name. But Dex never said, "yes you can create the same name", right? What Dex did is a bit tricky, so people cannot blame them. It is what exactly I want you to know from my explanation before. Do you get my point?

I also think so.
There are several similar tokens or coins with similar names or symbols.
However, it must be different smart contracts and also projects.
That is why before choosing one of them, always ensure that we pick the right token, by doing deeper research on the token or coin and undertaking whether that is the correct token to pick or not.
we can see it in CMC or COinGecko although sometimes, many new tokens are not listed yet there.

The coin won't have entire name in same words.We had Ethereum, Ethereum classic.We had Bitcoin, bitcoin cash, bitcoin gold. All this similar name not affected the original coin. The rest will had some good response as compared to some individual project.Disadvantage is some fake coin use this strategy.

Such tokens and projects are designed for those who are inattentive or in a hurry. I know a lot of stories when investors mix up only one letter and buy a scam instead of what they really want. One more terrible situation is with fake projects. I came across such a project once. But fortunately I bit through them on time, so I didn't lose money. Please be careful as everywhere there are those who can scam you.