Cryptocurrency fraud and scams

[mycryptocoin]

In fact, fraud and scams appear everywhere. The most important thing is that you should always be careful before any investment decision. Be careful with projects committed to high profits, 20% / month or more because most of them are scam projects. You should also be careful with phishing websites, requesting to send your private key or wallet wallet file. Finally, find out carefully what you will do and be careful before all your decisions.

[Vatimins]

     Same old same old. Wherever there is something to gain, there is bound to be scams. And the only difference you will be able to find will be the way they do it. Although there are minor differences in risk factors, everyone should always exercise caution. Because frauds already started long before we can even imagine. Easy way to be safer is to choose where you are comfortable, or learn as much as you can so you can be comfortable wherever you want and have as many options as possible.

[Mpamaegbu]

OP's warning isn't anything new. Majority of the members here already know how to navigate through such. Again, OP, you should always paragraph your posts. It makes for easy read.

Imagine seeing this so-called Project Covid-19 Crypto Coin

Do you think it's legitimate? Would you still invest in these types of projects?

LMAO here. Of course we know that's not legitimate. Crazy dudes trying to act on noobs ignorance.

[rathaha10]

Actually, what is the message of this topic? Exercise caution? I think that in this forum people know exactly what to do in order to protect themselves.

Well, i think the topics is pretty fine as all is sending across is how people ought to becareful and pay attention to things in other to thrive in this market. You said that people in this forum already know how to protect themselves, i kind of agree with you that we have lots of Veterans here but nonetheless, new users are joining crypto market and this forum everyday... I think noobs will learn a lot from this topic

[Twinkledoe]

Actually, what is the message of this topic? Exercise caution? I think that in this forum people know exactly what to do in order to protect themselves.

Well, i think the topics is pretty fine as all is sending across is how people ought to becareful and pay attention to things in other to thrive in this market. You said that people in this forum already know how to protect themselves, i kind of agree with you that we have lots of Veterans here but nonetheless, new users are joining crypto market and this forum everyday... I think noobs will learn a lot from this topic

So the OP should have posted it in the beginners section so newbies will see it. Though users here know about the existence of these frauds and scams, I think we need to be reminded of these every once in a while. And let others know that they are vulnerable to these fraudulent activities if they are not aware of what they are into.

[Rulelies]

Imagine seeing this so-called Project Covid-19 Crypto Coin

Do you think it's legitimate? Would you still invest in these types of projects?

There  are so many scams. so now because there is covid19 some one has created a project, so what happens when covid19 calms down.
Right now in cryptocurrency i don’t really invest in ico again. I will better wait and see whether the coin will come out well

[Utoy101]

yeah very important for people to identify all this fake project and scam platform, most platform that will encourage people to invest for the sake of helping them to do trading are not always genuine, good thing that i don't pay attention to such platform, it is best to stay away from them,
if you don't trust any new project enough to invest, then buy already existing coin in the market, we have enough good ones out there to chose from, cmc can also help in that aspect.

I agree with you, cryptocurrency sector is a decentralized market where everyone ought to be responsible for his/her own security and decisions and that is why everyone has to be vigilant with the sort of platform and projects they get involved with as there won't any much of a solution if they get scammed. Since the ends of ICOs, i kind of prefer to invest in already established coins because they usually stood the test of time and do always rise again after each downtrends but that can not be said for many start up projects out there

[supine]

You can lose both cash and money on the card, scammers are everywhere.

Yes it doesn't matter what you hold there are scammers in both real world and in the internet or crypto.
Scammers would use any type of money even if it's crypto or it's Fiat so it doesn't matter what you are using.
You just need to be wise and don't be so greedy to avoid being scammed by those kind of people.
Scam and fraud has been around even before Fiat is born so why would we even focus on crypto fraud and scam?

[PANK21]

how they happen and how you need to pay attention to safeguard yourself against them.
The Computer Science saw a different phase when cryptography mechanism was introduced with Bitcoin. With this big of a change, threats of fraud increased, to safeguard from these malicious activity is extremely important. Startups without blockchain should not be trusted at all. Before committing to any company, their credentials should be reviewed.
There are many fake ICOs that can scam people easily. The best way is to do research before being affiliated to that exchange. Another way is to send an email and ask about the exchange to be cautious. Phishing is another way to scam people, by asking their details and asking them to invest their Bitcoin or any other cryptocurrency. Fake Airdrops and Punycode are most common tricks.
There are many unregulated brokers that can lure clients in lower prices and trading products and fast returns. So, one needs to be vigilant. The automated trading systems are not scams but  they will take any opportunity to earn profits. Exchanges will charge an unfair amount to withdraw, the best way to avoid is to already be aware of exchanges price differences.
Fake emails look so authentic but at the end they are still fake. Check every bit of information before acting upon it. Many companies copy and paste some other company’s whitepaper, rather than having an original idea of their own.
Most exchanges use fake information for their team members. To be careful one must look for incomplete or inconsistent information and odd details.Inconsistent texts or details on any part of the website is also a red flag. One should read and proofread to be sure.
People should run scans to look for any Bitcoin miner or bot in the system. Companies will do anything for money, to ensure safety and security right websites should be used. There is a lot of responsibility one needs to practice in order to be careful.

This is absolutely right. Too much scammers and fraudulent people involves in bitcoin. Awareness is also important. I also agree with you about the company and ICO review. These days you can't suddenly trust an ICO because they are giving high and lots of rewards. Also avoid suspicious email links that makes you click and phishing websites that stole your private keys and other important info. This will help a lot of members here in bitcoin forum.

[crwth]

Imagine seeing this so-called Project Covid-19 Crypto Coin

Do you think it's legitimate? Would you still invest in these types of projects?

There  are so many scams. so now because there is covid19 some one has created a project, so what happens when covid19 calms down.
Right now in cryptocurrency i don’t really invest in ico again. I will better wait and see whether the coin will come out well

Why would you invest in a coin that's called COVID-19 anyway? That's just an insult towards everyone who is infected and died because of it. It's not a great name for a coin. Unless the proceeds of it go to the patients but I think it's highly unlikely to happen in these times. That's a smart move of you to not invest any more in ICO. Focus on Bitcoin instead and maybe trading?

[LogitechMouse]

tl;dr

I didn't read the whole post of the OP as it is like a huge wall of text coming into my eyes and that hurts me a lot. OP at least make some double spaces between your post to make it clean. Anyway I will just give mine base on the subject.

Frauds and scams are very popular already with crypto. From Bitconnect scam to Centra scam to different exchanges being hacked or scammed. I saw so many hacks and scams happened in crypto world already in the past 3 years and I already have a basis whether a coin is a scam or not. New projects right now are the highest chances of it being a scam because scammers want to scam newbie investors and they can do it thru launching a scam project. Either way, just be knowledgeable and do some research before investing on different coins or projects.

[Janation]

There will be so much scams while people will believe in free money in the internet. People should start to think wisely especially about thier money. Bitcoin is not a become fast rich

It is not a way to become rich quickly but we want to get rich anyway.

You can get free money as long as you are putting something in exchange of it. For example, freelancing won't ask money from you as long as you will be doing what you are asked or ordered to. It is true that there are a lot of scams but that falls in our hands if we will be letting ourselves fall for those. That is why we should learn to keep ourselves safe from scams and hacks.

[BuNga_cute]

Since 2018 until now the percentage of cryptocurrency scams has increased, this has made the popularity of cryptocurrency decrease.
But it does not make cryptocurrency lose new investors, because cryptocurrency is profitable if we can choose potential coins. Therefore
we must be able to avoid cryptocurrency scams, it is indeed not easy. But if we can do good research and analysis, it's easy enough to
avoid cryptocurrency scams.

[Pumuckel21]

The ico scams are still increasing. BUT I do think that it is getting better, the big bubble was in 2018. Everything that included a blockchain was completely overvalued. In my opinion there are for sure very bad projects out there but if you look close you will still find some real gems

[svaboda54]

You must always be careful. Especially when it comes to money.

[xiboothrezi]

~~
Frauds and scams are very popular already with crypto. From Bitconnect scam to Centra scam to different exchanges being hacked or scammed. I saw so many hacks and scams happened in crypto world already in the past 3 years and I already have a basis whether a coin is a scam or not. New projects right now are the highest chances of it being a scam because scammers want to scam newbie investors and they can do it thru launching a scam project. Either way, just be knowledgeable and do some research before investing on different coins or projects.

That is why we really need experience in this cryptocurrency ecosystem. Ecosystems that are still "young" and have the potential to expand more broadly, making it easier for fraudsters to trap new investors. Especially newbies who are interested in crypto just because they want to get instant profits, so they take all the means to join without considering the risks and without analyzing. It was a fatal mistake. When they are trapped and lost, they say that crypto or bitcoin is a scam. Even though it was their own fault because they were too greedy.

[stiffbud]

Imagine seeing this so-called Project Covid-19 Crypto Coin

Do you think it's legitimate? Would you still invest in these types of projects?

No definitely not! There is scam and spam written all over this coin, all he wants to do is have this coin listed on an exchange and sell it for some profit and repeat the process if the idea succeeds. A person in their right mind won't invest their time or money in such a project, you are sure to loose your money by buying such coin.
People loose their money here because they try too hard to make a huge profit and in that process they buy the wrong coin or many a times they invest in a HYIP which makes them loose money.

[Reatim]

Imagine seeing this so-called Project Covid-19 Crypto Coin

Do you think it's legitimate? Would you still invest in these types of projects?

No definitely not! There is scam and spam written all over this coin, all he wants to do is have this coin listed on an exchange and sell it for some profit and repeat the process if the idea succeeds. A person in their right mind won't invest their time or money in such a project, you are sure to loose your money by buying such coin.
People loose their money here because they try too hard to make a huge profit and in that process they buy the wrong coin or many a times they invest in a HYIP which makes them loose money.

That scam project is an insult to all victims of covid19,imagine your love ones died from this pandemic and you will find this project scamming people using the name of that pandemic?

This kind of people must be penalized and if i have a chance?i will do my own penalty in this damn no heart people.
Instead of helping the world because of this worldwide crisis they chose to use the opportunity to victimized people.

They must be ashamed of themselves and hope authority will do necessary action towards people like this.

[kotajikikox]

how they happen and how you need to pay attention to safeguard yourself against them.
The Computer Science saw a different phase when cryptography mechanism was introduced with Bitcoin. With this big of a change, threats of fraud increased, to safeguard from these malicious activity is extremely important. Startups without blockchain should not be trusted at all. Before committing to any company, their credentials should be reviewed.
There are many fake ICOs that can scam people easily. The best way is to do research before being affiliated to that exchange. Another way is to send an email and ask about the exchange to be cautious. Phishing is another way to scam people, by asking their details and asking them to invest their Bitcoin or any other cryptocurrency. Fake Airdrops and Punycode are most common tricks.
There are many unregulated brokers that can lure clients in lower prices and trading products and fast returns. So, one needs to be vigilant. The automated trading systems are not scams but  they will take any opportunity to earn profits. Exchanges will charge an unfair amount to withdraw, the best way to avoid is to already be aware of exchanges price differences.
Fake emails look so authentic but at the end they are still fake. Check every bit of information before acting upon it. Many companies copy and paste some other company’s whitepaper, rather than having an original idea of their own.
Most exchanges use fake information for their team members. To be careful one must look for incomplete or inconsistent information and odd details.Inconsistent texts or details on any part of the website is also a red flag. One should read and proofread to be sure.
People should run scans to look for any Bitcoin miner or bot in the system. Companies will do anything for money, to ensure safety and security right websites should be used. There is a lot of responsibility one needs to practice in order to be careful.

I think this thread must be in economic section in which you can find here

https://bitcointalk.org/index.php?board=7.0

because this is not just about Bitcoin but the whole crypto community.

But you have mentioned about ICO?they are all scams(only few are legit) so better not let them be in your thread because we have nothing to do with that,because even Bounty hunters are letting the scammers abuse this forum.

[peter0425]

Actually, what is the message of this topic? Exercise caution? I think that in this forum people know exactly what to do in order to protect themselves.

There is no clarity about what this all about,either about Bitcoin or altcoin?

Imagine seeing this so-called Project Covid-19 Crypto Coin

Do you think it's legitimate? Would you still invest in these types of projects?

No definitely not! There is scam and spam written all over this coin, all he wants to do is have this coin listed on an exchange and sell it for some profit and repeat the process if the idea succeeds. A person in their right mind won't invest their time or money in such a project, you are sure to loose your money by buying such coin.
People loose their money here because they try too hard to make a huge profit and in that process they buy the wrong coin or many a times they invest in a HYIP which makes them loose money.

same views here mate,it seems that the project only use the popularity of the pandemic but nothing to do with reality.