A way to be safe from Rug pull

[Alpha Marine]

People definitely undermine the ability of some teams to invest a lot of their efforts and time into making you believe that they are a legit project that will be here for a long time. They do this obviously for more profits. The more they pretend the more people will trust them and spread the word = more profit for them. This is why there are really no definitive tell-tale signs of a rug pull project.

That's exactly how Ponzi schemes work and many other scams follow this tactic. I've heard of a crypto investment scam where you gave the "investors an amount of money to invest for you, they'll deliver on their promise and give you the agreed amount within the agreed period. This would motivate you to invest more and also spread the good news. They even tell you about referral bonuses and would compel you to bring in more people, when they have gotten a reasonable amount, they'll disappear with the money.

Scams take different forms. Some are patient and take time while some just come to you right away. The more successful ones are the patient ones. They can last for years, picking up more potential victims along the way. They have people that can vouch for them. Most of these scams have people who can say "Look, I made this amount from this, it's legit", those people do not know they're doing the scammer's work for them.

[bitLeap]

Rug pulls are a common scam in the crypto space, especially with meme coins. Fortunately, there's a Twitter account dedicated to exposing these scams and helping you stay safe.
X-ANTI SCAMMER on twitter actively monitors and follows the accounts of known scammers, keeping track of their rug pull contract addresses. And over the past few months, their work has proven to be 100% accurate in identifying and warning about potential rug pulls. I'm sure this will be helpful for memecoins degens.

Actually, there is no need to refer to one particular account so that it doesn't become rugfull, just avoid meme coins so you don't have to bother checking every day just to see meme coins that have been blacklisted. This promotional method can be a trap for beginners. This means that an account that always does research is paid to detect fraudsters, but on the other hand it deliberately passes other meme coins that are basically rugfull. Therefore, many end with DYOR, indirectly the decision goes back to the buyer. Safe ways to avoid carpet pulling buying meme coins. If you are not prepared to face losses in meme coins, it is better to never touch them at all. Putting money into a meme coin is simply a gamble, as it was created purely as a joke.

[teamsherry]

The last post on that X account linked you shared was in September last year, and you can't tell me that since that time till now there have not been any recent rugpull scams in the crypto space. 
 
They need to keep the account updated with information about suspected scam tokens even before the scammers succeed in scamming anyone.

Scam tokens appear every day now since solana started hosting memecoin at very affordable prices for scammers, I think Is already a lot of work on their hands now, so give them a break.

Great topic OP it's nice that you shared this here, but I also think it would be a good idea to also help them by sharing what ever scam token they burst, that way more people woidl hear about it and keep off.

[goaldigger]

Rug pulls are a common scam in the crypto space, especially with meme coins. Fortunately, there's a Twitter account dedicated to exposing these scams and helping you stay safe.
X-ANTI SCAMMER on twitter actively monitors and follows the accounts of known scammers, keeping track of their rug pull contract addresses. And over the past few months, their work has proven to be 100% accurate in identifying and warning about potential rug pulls. I'm sure this will be helpful for memecoins degens.

This can be a big help but I still prefer to know this on my own since I do my due diligence every time I invest with new projects and with the meme tokens. New Meme tokens have a higher chance of becoming a bad project and rug pull so be careful with dealing with them and make sure you know how to ride and exit the hype with the meme tokens. If you don’t want to fall to any scam project, stay away from a new one.

[oktana]

That’s one of the ways, but don’t forget to do the due diligence of checking and scrutinizing by yourself. Because you may go to check if they have flagged the project and they probably haven’t posted about it yet, so you assume it’s safe. So it’s not a complete security. It’s just one you can add to the many other ways you can check for scams before investing.

[Webetcoins]

These are great help for those that don't know how to spot and are a fan of investing into these random projects and memes in the market.

But as you use them as a resource, it's always best to have your own way of determining which are the potential rug pull projects and while you rely on them.

You should build up your way of finding out which are likely the scam projects and the rugpulls that might occur with the new ones.

Yeah, that is the problem there. They have the courage to invest immediately without having a good knowledge in their brains but they are still lucky because there are still people who are like that in the OP who are willing to share their knowledge to them. It is said that they are so accurate and if only we know how to determine on our own, then I don't think we will look and use their service.

But, if we can get an idea with them, that's great. It means that we are also willing to learn on our own and maybe eventually we are now ready to abandon them. There might also be a time that they will stop their service for some reasons, so learning is important or highly recommended.

[ultrloa]

That’s one of the ways, but don’t forget to do the due diligence of checking and scrutinizing by yourself. Because you may go to check if they have flagged the project and they probably haven’t posted about it yet, so you assume it’s safe. So it’s not a complete security. It’s just one you can add to the many other ways you can check for scams before investing.

Research and due diligence is important.

But what's effective way to be safe from Rug pulls is not to invest on meme coin since almost all of them are scam. But unfortunately there's a lot of investors still take the risk and do bad decision upon proper selection of those tokens. But if they could able to do at least to research the community and if there's chance for the project to last long then maybe there's a chance for them to earn from these meme coin.

Also they should avoid the hodl mindset on meme coins since most likely they will just experience those rug pull schemes and hard for them to recover.