New Scam Strategy

[MikeyVeez]

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.

[dumplingsandsushi]

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.

[Zadicar]

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 

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.

[mongkie]

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.

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

[Everglow]

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.

[kewlc3s]

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

[South Park]

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.

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.

[Pechalka]

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

[maculeth]

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 

[valdepono]

When will growth begin?

[kimjenglot]

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.

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

[Perie200]

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.

[valdepono]

On that market, I would not sell anything

[furball64]

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 

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.

[markalis]

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

[Cianix]

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

[organelles]

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

[cryptowolfsu]

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.

[sergey1301]

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

[bohboh]

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.