Be aware, so many scam coins are around

[wxa7115]

It is going to be easy again for Scammers to catch new preys as the cryptocurrency market is recovering very well. We are likely going to have more newbies joining crypto now who need to be aware of this scamming techniques.

That is something that really upsets me, the recovery of bitcoin is a great news that everyone should be celebrating but as more people begin to invest scammers are going to find ways to get their money and then those people are going to think that the market of cryptocurrencies is unsafe and they will tell their experiences to their friends and anyone that is willing to listen and this is going to slow down adoption.

So scammers are not only affecting the people from which they steal, they are also affecting us, if it was not for scammers can you imagine the price that bitcoin could have already?

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[posi]

It is good to post here all scam coins. Please update the main thread.
My pick of scam coins:
VINND, Mira, Jincor, Equitybase.

You're right when you said it good to post all scam coin but what about the new scam coin which are yet to be giving birth to into the market. What I'm trying to point out is that people also need to know the require information they need to fish out scam coin so they wont be a prey for those scammer looking for opportunity everywhere.

[steveabrahams]

Scam projects are the greatest undoing of the crypto-currencies space. They discourage investors by their activities from putting money into projects. Can they be stopped, that would be good for the sanity of the crypto-currencies ecosystem

Sadly no, because there is no rules for ICO and so many scammers can easily make their own ICO. That's why investors also give up investing on ICOs nowdays. Scam coins in cryptocurrency is many so becareful guys, don't invest without knowing the information of the crypto.

[jonahjonah]

Now that most of the people are well aware of scam ICOs, scammer has found another way to scam people. I have observed 3 projects till now which I will list here and give you a highlights how they scam people, specially the newbie.

1. Privcy
Privacy was a free airdropped coin which was distributed freely over the community for helping promoting the project. Later, they decide to reward more to the holder of the coin in airdrops. The more coin you hold, the more airdrop coin you get. Newbies started to buy coins for getting more airdrop coin and DEV were selling their coin. I am sure they had a lot of fake accounts participating in the Airdrop. Can you believe they scammed people in such a way? Now, the project is died, 24 hour volume is- $620 which was less than $100 couple of weeks ago.

2. Profish
Profish was an ICO which came into the exchange before the bounty end. They were listed in mercatox and used to have some fake volumes. I don't know what happened to their ICO but they sold a lot of coins through mercatox and later, the price is now 1 or 2 satoshi from 650 satoshi. This is also a dead project. They scammed people.

3. Helios Protocol- Be aware
Helios Protocol is now airdropping coin to their community. This attract my eyes when I see user vectisitch was vouching the project. He was a moderator in privcy, so, there's no doubt that both of the project are from same person and this helios shit is also going to scam money. I want to alert you guys not to invest in this scam project.
Here is the vouching comment- https://bitcointalk.org/index.php?topic=5118682.msg50087444#msg50087444

Great post, thank you for the warning!
I have had sort of same experience, but I found my faith again when I found a project with real producct called Yanu

[Inosend]

I believe many has become very wise after all the scam that has happened recently. It will be quite easy to see alot of people falling for the scam this days anymore. But there will always be a scapegoat.

[LUCKMCFLY]

Wow I really did not know that Privcy had been set as a Scam project, I participated in it, I did not invest anything, at first it was very exciting, but there came a time when the project did not offer anything else, everything was stagnant, It was at that moment when I decided to sell all those coins, because I knew there was something weird about there.

In fact I know many friends who decided to invest there, it is unfortunate, in addition many people who had come out disappointed in a similar project called DeepOnion something similar happened to them, because that project is dead today, they had all the success in their hands and they let everything That was, but thank you very much for the information, it's really a shame, it looked like it would look good on that project but it turned out to be a scam.

[travwill]

I have got too much experience with investing in scam coins ,I have lost too much money with them so now I am searching only for promising project with solid and experienced team.Guys,be very careful in your choice before investing in Icos or joining bounties.

In order to never fall into such a trap, you will only need to observe one rule “Always invest only in work projects with ready-made working products".

[dat.ho12492]

I have got too much experience with investing in scam coins ,I have lost too much money with them so now I am searching only for promising project with solid and experienced team.Guys,be very careful in your choice before investing in Icos or joining bounties.

In order to never fall into such a trap, you will only need to observe one rule “Always invest only in work projects with ready-made working products".

Projects that have clear products, sometimes it is not too good and there are not too many differences with the scam coin because what it's better than the scam coin is just that it's listed but even if it's listed, we will still be disappointed when its value is too low and there's no buy volume. I see a lot of such projects, and for that reason, the safest I can think of is that we should stop investing in ico or projects that are not prominent in the market, old altcoin is still enough for them have a profit, no need to continue risking and finding new places

[Pffrt]

Thank you for the information provided, I will be more careful to take part in the ICO, I also got a fraud project several times and I will also pay more attention to every project that I follow, so that I don't get scam again.

It's very easy to say and see good projects and scams, But it's very difficult because they organize in such a way as to the good results of the fraud they will commit.

If you have some good knowledge and experience in this field, it's nothing hard to find out the scam projects. By the way, you can also have free unbiased review in scam accusation thread made by ICOethics.

[hongus]

Thank you for the information provided, I will be more careful to take part in the ICO, I also got a fraud project several times and I will also pay more attention to every project that I follow, so that I don't get scam again.

It's very easy to say and see good projects and scams, But it's very difficult because they organize in such a way as to the good results of the fraud they will commit.

If you have some good knowledge and experience in this field, it's nothing hard to find out the scam projects. By the way, you can also have free unbiased review in scam accusation thread made by ICOethics.

The experience is good. But experience will not allow vseravno get rid of all the scammers. Today I regularly forward projects. But all the time from time to time I come across scammers. The thing is, they are not stupid either.

[Centriril]

Exactly, thither are so various proposals away thither that always roll away to be a bunco largely those that regulate airdrops, nearly of this partner behaviour airdrop not as they wish to consecrate out their coins to humans on the other hand as they assume 't get caches to marketplace themselves so that additional investors buoy approach in to create acquire,.When this occurs, the currency always rotates away to be what we phone shitcoin in the marketplace, so I always try to amble far-away out from those form of projections as I recognise it's aloof a dissipate of my age.

[tunapa]

No way it’s pretty more easy to know some scam projects by simply studying them , their activities , what they do , how they do things and this will reveal who they truly are. People have become wise now I like in the past , no scammy project will survive no matter how they are shilled.

[abake]

Aside the Projects you mentioned, there are other scam projects out there. Even some projects you think are dope, if the team intent is to make money without developing a product for instance, it's no different from a common scam. Xentimentum listed on hotbit, yet they were scammers. Penchant listed on mercatox, yet they were scammers. They cleared all buy order until people noticed and stopped placing buy orders. Even buy orders at 1 gwei were picked. Let's be guided in this space.

[ininf]

I cohere. A plenty of bunco tasks round and we just recognise the single with great panorama. Bunco liberalities programmes and airdrop. I anticipate many justification any investors care for to vest in existent design, or propose with great paternship.

[94K]

Unfortunately, there are lot of scammers around in cryptocurrency which looks genuine and professional to lure investors into. That's why its important to be careful and study the market before investing.

[BitcoinHunt3r]

Unfortunately, there are lot of scammers around in cryptocurrency which looks genuine and professional to lure investors into. That's why its important to be careful and study the market before investing.

What they usually do is make hype for their project and then it can attract people to invest. And not with their quality, only hype is actually not enough to develop a coin and then make a lot investor lose.

[Sartrute]

I agree with you. There is still a lot of fraud on the market. I think the community should work together to cope with this. Users are also getting smarter and investing less in fraudulent projects.

[niisarearning]

Now that most of the people are well aware of scam ICOs, scammer has found another way to scam people. I have observed 3 projects till now which I will list here and give you a highlights how they scam people, specially the newbie.

1. Privcy
Privacy was a free airdropped coin which was distributed freely over the community for helping promoting the project. Later, they decide to reward more to the holder of the coin in airdrops. The more coin you hold, the more airdrop coin you get. Newbies started to buy coins for getting more airdrop coin and DEV were selling their coin. I am sure they had a lot of fake accounts participating in the Airdrop. Can you believe they scammed people in such a way? Now, the project is died, 24 hour volume is- $620 which was less than $100 couple of weeks ago.

2. Profish
Profish was an ICO which came into the exchange before the bounty end. They were listed in mercatox and used to have some fake volumes. I don't know what happened to their ICO but they sold a lot of coins through mercatox and later, the price is now 1 or 2 satoshi from 650 satoshi. This is also a dead project. They scammed people.

3. Helios Protocol- Be aware
Helios Protocol is now airdropping coin to their community. This attract my eyes when I see user vectisitch was vouching the project. He was a moderator in privcy, so, there's no doubt that both of the project are from same person and this helios shit is also going to scam money. I want to alert you guys not to invest in this scam project.
Here is the vouching comment- https://bitcointalk.org/index.php?topic=5118682.msg50087444#msg50087444

Big airdrop successful project I seen last year is pos token lots trusted on this coin including initially we trusted this coin we got free money through airdrop after we invested by believing we will get some free coin by staking finally it end up with big scam . Now it’s value is nothing.

[Cheesus]

I agree with you. There is still a lot of fraud on the market. I think the community should work together to cope with this. Users are also getting smarter and investing less in fraudulent projects.

That's right. People are very smart to catch the shitty project. If anyone can research every project's behind the scenes then we will have only 200-300 honest coins otherwise all coins will be caught as a fake volume, fake pump dump scheme coins.

[bangjoe]

No way it’s pretty more easy to know some scam projects by simply studying them , their activities , what they do , how they do things and this will reveal who they truly are. People have become wise now I like in the past , no scammy project will survive no matter how they are shilled.

I also think so, it would be very difficult to know whether the project is a scam project or not just by looking at their behavior because I believe every project will definitely show its best behavior to increase public trust in the project so that we will never be able to distinguish between the right projects really good and where is the scam project