Scammers favorite tools

[ije07]

yes, scamers always have many ways to fool the victims as you said above, on the other hand like an attractive offer, a high return on investment is a way to attract the attention of investors to join in it. most of the scamers have revolutionized their ICO project again to make it look real or convince investors.

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[el kaka22]

I would say something believable is the most awesome thing you can scam people around.
If you tell people that you will give them 100 coins if they give you 100 satoshi, they will not believe you, some might, but mostly they will laugh at you.

However if you tell people that you will give them 20% per year, and that is guaranteed, they might believe you. Is it impossible to give 20% profit per year? Well Warren Buffet made a career out of it so it is quite possible, however we are not Warren Buffets here and the people who say that are lying. They are trying to ponzi the hell out of the situation. Ponzi scheme or pyramid scheme is by far still the best way of scamming people, that way you know what you are doing as scammer since you saw it a million times before and you can perfect it by scamming much better next time.

[studio1one]

1. Masternode coins are scammers favorite too.
2. Real Estate projects are scammers favorite too.
3. New exchanges are also used by scammers too

Anything that's very easy to fool investors will be on scammers list for sure, it's easy to detect fake masternode projects because they promise huge ROI, mostly too good to be true and do not trust new exchanges too unless they are transparency

In my span in crypto space DASH was the only coin masternode which actually gave me a decent profit lol apart from every coin ended up with a loss. Never trusted/invested in any real estate related projects.

I participated in ICO of COSS exchange and that ended up badly too so I agree with your statement above completely. Not all exchanges can be binance.

[Eco_111]

I learnt my own lesson about some useless use cases in crypto Projects through Airdrop hunting. I have something against the following use cases like

1. Artificial Intelligence projects
2. Gold backed tokens
3. Deflation tokens

Why? They hardly survives because they are mostly based on lies, these use cases are scammers favorite tools to deceive

Few artificial intelligence projects exists and they are doing fine but majority are chasing the air, gold backed tokens have fake foundations and are just 'make believe' use case, I made few dollars from deflation tokens, these are the kind of altcoins you don't want to hold on to for long because they can become worthless very fast

[B.wealth]

You are right, this techniques as been working for quite sometimes now, and I hope investors will learn and stop falling for cheap scam. 80% of exchange projects too is pure scam, they don't have any real usecase, just mere attractive name to deceive investors.

[electronicash]

exchanges who are doing are ICO are the usual. we've been sing more of it since 2018. its unsure if they really get some funds fro investors though and i have not investigated an of them but the fact that they tried asking for funds and just defaced their website after ICO date, its a valid reason to think they are scam.

i would assume a single team is behind the ICO scam of exchange project and the next exchange ICO scam but just doing different way of exiting. one that i suspect today is that  KOINPRO. its not doing ICO but its allowing users to deposit.

[gabbie2010]

You are right, this techniques as been working for quite sometimes now, and I hope investors will learn and stop falling for cheap scam. 80% of exchange projects too is pure scam, they don't have any real usecase, just mere attractive name to deceive investors.

The worst and the culprit among them are exchanges I hardly see any exchange coming into real life I personally invested in one or two of them which eventually turned scam I belief this is an eye opener to any investor or bounty hunter to avoid those ones else the end result will be regret of course those scammers are having a field day due to non regulation of cryptos where every dick and harry enters the market with shady deals and tricks to defraud unsuspecting investors every crypto enthusiast has to be wary of them including those mentioned by OP.

[kawetsriyanto]

I bet on scammer's next favorite tools is going for DeFi project since they're trending right now.

I agree with you. DeFi project seems the next potential tool to use by scammers effectively. Well, one of the ways to scam people effectively is by using what the most favorite ones currently. We must know that nowadays, most scammers prefer to use IEOs on small or unpopular exchanges to attract people than using ICOs. As most investors don't trust again in ICOs, scammers rarely used ICOs to trap people anymore. We must realize that scammers are always following the current trends in crypto to get the victims, so be more careful guys!!

[Denreal]

I bet on scammer's next favorite tools is going for DeFi project since they're trending right now.

I agree with you. DeFi project seems the next potential tool to use by scammers effectively. Well, one of the ways to scam people effectively is by using what the most favorite ones currently. We must know that nowadays, most scammers prefer to use IEOs on small or unpopular exchanges to attract people than using ICOs. As most investors don't trust again in ICOs, scammers rarely used ICOs to trap people anymore. We must realize that scammers are always following the current trends in crypto to get the victims, so be more careful guys!!

Yes IEOs could be one of their tools, but they can't be accepted on bigger exchanges and they cannot venture into approaching such exchanges, because thorough research will be done, such as the IEOs on Binance, Gate.io and other bigger exchanges in the space. They most times prefer exchanges like p2pb2b, latoken and the likes, because they are birds of same feathers.

[BayAngelo]

there are many project in various aspect that are scams with little or nothing to offer. the reason why professionals insist on investors to reach and research about projects before spending their money to invest. unless you are good in gambling. the new tools for scammers also include gambling projects which are totally cpy cats from previous projects.

[Chuky92]

I learnt my own lesson about some useless use cases in crypto Projects through Airdrop hunting. I have something against the following use cases like

1. Artificial Intelligence projects
2. Gold backed tokens
3. Deflation tokens

Why? They hardly survives because they are mostly based on lies, these use cases are scammers favorite tools to deceive

That's true, all these use cases have always being met with bad endings for investors while the team moves away with the funds generated. However from the list, I can say based on my own understanding that gold backed tokens tends to be the worst as I have not seen any which is working nor any which is actually living up to expectations. In the case of deflation tokens, I think there are some platforms which uses it, such that when tokens are used for services the supply tends to reduce nevertheless it was still leveraged on by scammers to achieve their aim. Therefore what this shows is that, before one invest in any project, one should study the use case and make sure it is something that can work.

[CaVO32]

there are many project in various aspect that are scams with little or nothing to offer. the reason why professionals insist on investors to reach and research about projects before spending their money to invest. unless you are good in gambling. the new tools for scammers also include gambling projects which are totally cpy cats from previous projects.

that's why if you do really want to gamble, just play in the known casino sites here. you can always visit the gambling board in this forum and look for reputable ones. if you want to try new casinos, better deposit small amount as you will see potential problems when it comes to withdrawal time.

and also, not only those types of projects mentioned by the OP are prone to screwing investors, but almost a lot of blockchain projects. you have to spot those projects that have empty foundations and just here to grab money from naiver users.

[cytpoway121]

I learnt my own lesson about some useless use cases in crypto Projects through Airdrop hunting. I have something against the following use cases like

1. Artificial Intelligence projects
2. Gold backed tokens
3. Deflation tokens

Why? They hardly survives because they are mostly based on lies, these use cases are scammers favorite tools to deceive

Lol, if you have issues with Gold-Backed token then you are not a good project or token researcher. Because to my very understanding; The digital gold stable coin has been ever reliant and functioning well with good volumes on different exchange platforms as an alternative to usdt or other stable coins. When it comes to gold backed tokens; verify the gold amounts in vault; when it comes to deflation tokens, remember it is a pump/dump token. When it involves AI projects; its 2 side of a coin.

Always do your own research

[daniahya]

You are right, this techniques as been working for quite sometimes now, and I hope investors will learn and stop falling for cheap scam. 80% of exchange projects too is pure scam, they don't have any real usecase, just mere attractive name to deceive investors.

many exchange projects have emerged lately, and they always offer a variety of attractive facilities and great benefits, yet they usually give a number of coins to bounty hunters and they give their own value to their coins, exchanges like this should be on the lookout , so you do not lose your money

[sfireman]

I bet on scammer's next favorite tools is going for DeFi project since they're trending right now. Please invest in DeFi project carefully.

That's probably will happen. Scammers are very good at taking advantage of trending projects. Remember back in 2018 when ICO projects raised as a hype, scammers immediately took advantage of it and fooled a lot of people. DeFi projects is developing and gaining its reputation through the market, the term "DeFi" is become a trending word in the forum. Surely there will be a chance for scammers to fool people! Be careful guys!

[kotajikikox]

I learnt my own lesson about some useless use cases in crypto Projects through Airdrop hunting. I have something against the following use cases like

1. Artificial Intelligence projects
2. Gold backed tokens
3. Deflation tokens

Why? They hardly survives because they are mostly based on lies, these use cases are scammers favorite tools to deceive

They survived Because there are still some fools that trusted them even how many times that same style these scammers are using.

Don't you get that same technique they are using?meaning the same people involves on these scamming.

Try not to believe in same like this and trust me this will stopped sooner.

[bgaf]

I also am a victim of one of those types of projects. Day by day those scammer becoming more creative about scamming peoples. Sometimes i wonder how they find all these unique ideas for stealing people's money. For these types of activity real and potential projects failed to collect enough funds for the project developments. People afraid to lose their money again.

Their creativity to make new ways to scam people will always improved. Those scammers knows how to ride which hype they should enter so they can take advantage of those newbies seeking to gain more profit from your money. Just remember that too good to be true giveaway will always associated with scam. There are no free money easily. You should be able to recognize that after you been scammed.

[Kupid002]

I bet on scammer's next favorite tools is going for DeFi project since they're trending right now. Please invest in DeFi project carefully.

DEfi project since its hot now actually there are many defi project created as of today you can check bounties atcoins and you can find many defi  project that have bounties.

There is also other way I found that they are using fake wallet website with fake return they promise if you stakes you crypto in them and other use fake application .they are improving everything For them to keep up with new trends .

[Lantind]

there are many project in various aspect that are scams with little or nothing to offer. the reason why professionals insist on investors to reach and research about projects before spending their money to invest. unless you are good in gambling. the new tools for scammers also include gambling projects which are totally cpy cats from previous projects.

I don't think anyone is good at betting, especially in terms of investment, all jobs really need further research and analysis, because making hasty decisions without doing research will only ruin oneself and one's life.

[pawanjain]

Well I guess this is also a good thing that scammers don't put  in the effort of creating something unique to scam the people and rather copy other projects to scam people because it makes easy for us to detect the obvious scam. Though many people were scammed in the beginning because of these projects, people have become more aware that such projects are most probably fake which is why it's actually good that scammers are using the same technique again.