New Scam Strategy

[yanto@1977]

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.

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.

[Godday]

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

[rancidgash]

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..

[akungagal]

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.

[Chom_]

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.

[a d i m u l]

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.

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

[Annieluvyou]

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.

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.

[zauna35]

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

[Sevarchik]

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

[daenarys_stormborn]

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

[niteroy]

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.

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.

[Andruha1993]

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.

[gefander]

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.

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.

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

[popox]

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.

[sorrros]

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.

[StockholmZ]

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 ...

[carlzhao]

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.

[pawanjain]

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.

[Pamadar]

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.

[siddartha1492]

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..........