Similar Name Coins | Don't get deceived!

[mald1to]

Is it only I who noticed that there are coins having similar abbreviations?

I want to warn the crypto public about this. You be careful there are lots of coins out there with similar names. I think this is a new scam strategy to deceive the community that the coins they hold/received from campaigns are the ones listed in coinmarketcap. Please double check it first before sending to an exchange or if you have plans to buy the you-dont-know is a "fraud coin".

One example is Omnitude (ECOM) which was listed on coinmarketcap. https://coinmarketcap.com/currencies/omnitude/ and with a contract address https://etherscan.io/address/0x171d750d42d661b62c277a6b486adb82348c3eca and the other ECOM which has a contract address https://etherscan.io/address/0xed0588ae6ad1e5abd1957cc77f4aded77ab425ae




Edited.

[batang_bitcoin]

I've seen those few coins that has the same abbreviation.

Though this has been a new scheme for those scammers, see report: New Scam Strategy

[Black Coffee]

Is it only I who noticed that there are coins having similar names?

I want to warn the crypto public about this. You be careful there are lots of coins out there with similar names. I think this is a new scam strategy to deceive the community that the coins they hold/received from campaigns are the ones listed in coinmarketcap. Please double check it first before sending to an exchange or if you have plans to buy the you-dont-know is a "fraud coin".

this is indeed very disturbing and often traps newbie, but if we are careful and always check correctly, maybe this kind of thing can be avoided. for tokens erc20 then we can distinguish it by checking the smart contract, if it's different then you have to be careful.

[askmecrypto]

Is it only I who noticed that there are coins having similar names?

I want to warn the crypto public about this. You be careful there are lots of coins out there with similar names. I think this is a new scam strategy to deceive the community that the coins they hold/received from campaigns are the ones listed in coinmarketcap. Please double check it first before sending to an exchange or if you have plans to buy the you-dont-know is a "fraud coin".

If you could have given few examples of coins which are of similar name but different ticker, that would have helped the forum members in a better way. As of now I cannot actually make out your point to convey.

[Virtual-Money]

Is it only I who noticed that there are coins having similar names?

I want to warn the crypto public about this. You be careful there are lots of coins out there with similar names. I think this is a new scam strategy to deceive the community that the coins they hold/received from campaigns are the ones listed in coinmarketcap. Please double check it first before sending to an exchange or if you have plans to buy the you-dont-know is a "fraud coin".

yes many coins and tokens is the same name, mostly the coins is already listed on yobit exchange

[Grobokopalka]

more than once it was and I was deceived more than once. first seeing the value on CoinMarketCap was very happy, and then looked at the address of the contract and wanted to cry)

[hdtqisg]

If an altcoin was developed and built using the acronym earlier, then there are two reasons:
   + Put the same name with the intention of cheating or causing confusion
   + There are acceptable reasons
But for me, all that altcoin needs to be considered before making a decision to invest

[Tamilson]

Maybe you mean, ticker? Not the abbreviation.

This is why it's better to inform the team that their coin has some similar ticker and it can mislead the traders so they can decide whether they gonna change it or not.
Likely, the least we can do is to always check the smart contract.