Too many project SCAMS - PLEASE CAREFUL

[ductruong]

By the end of 2020, along with the strong growth of Bitcoin, some people used the trust of many to scam.
For example:
- Create virtual projects,
- Create virtual tokens,
- Create an investment website for the purpose of calling for investment,
- Create an airdrop that calls for people to deposit fees to pay tokens
- ....
Everyone should be careful when participating in projects like that.
Thank you so much.

[JHORN]

Thanks for the advice, we knew about all this already so your post isn't actually well fitted for this thread, you can move to beginners section for newbies so they can read and probably safe few of them who tend to listen to advices

[Jawhead999]

- Create virtual projects,
- Create virtual tokens,

This is just some of sweet promises or bullshit like planning, creating, waiting etc. unless it's released.

- Create an investment website for the purpose of calling for investment,
- Create an airdrop that calls for people to deposit fees to pay tokens

That's ponzi scheme and Multi Level Marketing

I think you need to add 2 more examples since that's currently FOMO and HYPE right now :
- Anything with DEFI project
- DEXs and Swap service giving free airdrop (e.g. Uniswap, 1nch exchanges)

[cilgindansci]

This early warning is very important. Now people are curious about cryptocurrencies and fraudsters will take advantage of it. Many scam projects will be created and new investors should be made aware of this 

[ancafe]

I suspect that in 2021 there will be more such things. currently the price of bitcoin is very strong, and it is likely that the altcoin season will arrive in 2021, and there will also be many projects that take advantage of this moment. I thought scammers would improve their quality to trap investors.

[idrisalomagold]

Thanks for the advice, we knew about all this already so your post isn't actually well fitted for this thread, you can move to beginners section for newbies so they can read and probably safe few of them who tend to listen to advices

These shows that we need to be always reminded that among crypto enthusiasts in the space, most of them can make us invest and get nothing in return. In other words, there are so many scammers in crypto industry. So we need to be extra careful and these fitted perhaps in every section. I mean we all aware about the risk but are we ready if it happened to us? So we need to be always reminded though moderators pin posted it but somehow this is worth a topic to discussed about.

[blockman]

- Create an investment website for the purpose of calling for investment,

Always verify and check the legitimacy of a website. For investment or service, you need to check each of the details that it shows because you'll get a hint if it's a scam. They may look like a professional website but with the content and the scheme that it explains, you'll get the idea if it's a scam, a Ponzi, or a project that only wants to take the money of its investors. Research is the best weapon for this to avoid and you'll get to secure yourself from those scam projects.

[plvbob0070]

Various scams are already apparent for the past years and we cannot stop them. That's why it's also a part of getting into crypto space is to know how to avoid and keep yourself safe from scammers. Since the adoption is continuously growing, more scammers will use it to delude beginners. Remember to always be careful with projects you are choosing and to always do prior research.

[Akiko]

Various scams are already apparent for the past years and we cannot stop them. That's why it's also a part of getting into crypto space is to know how to avoid and keep yourself safe from scammers. Since the adoption is continuously growing, more scammers will use it to delude beginners. Remember to always be careful with projects you are choosing and to always do prior research.

And some of them are hiding as new projects in the crypto space. so be careful because they will use all the good stuff whitepaper roadmap just to get what they want which is your hardwork money. Invest only in legitimate project and don't be FOMO with a new coins with high price they will all lost its value someday so be careful.

[hd49728]

- Create virtual projects,
- Create virtual tokens,

I never support or like the approach to use virtual word to describe cryptocurrency. It is a word used to mislead crypto enthusiasts or potential crypto investors.

What is real? What is virtual?
Is the fiat in balance when you log in your bank account is real? Or is it virtual?

Bank balance, crypto balance are digital number, not virtual number. Crypto currency is digital currency, not virtual currency.

[jrrsparkles]

By the end of 2020, along with the strong growth of Bitcoin, some people used the trust of many to scam.
For example:
- Create virtual projects,
- Create virtual tokens,
- Create an investment website for the purpose of calling for investment,
- Create an airdrop that calls for people to deposit fees to pay tokens
- ....
Everyone should be careful when participating in projects like that.
Thank you so much.

By the way it is not going to end in 2020 so we just need to be careful all the time whenever we are encountering such situations whether in online or at offline.But these ideas become very older and investors became familiar to it so we may see more innovative ideas from the scammers in 2021 so just be careful with scammer always.

[BDBitcoinExpart]

Thanks for the advice. We must be careful at all times. We are not greedy. Many scam projects ask us to invest in the hope of doubling our portfolio. Which we later invest in greed. And our portfolio looted all.

[Genemind]

This is an endless cycle, people will find ways to earn easy money. Scam is everywhere since crypto started, as time goes by people learn and adapt. Always practice caution and be aware of what you are investing in, if a project promises too much be wary. Just do your research before enggaging in any investment.

[bassbity]

That's why we shouldn't be tempted by cheap things that will only make us seem like gullible people. not only be careful, but better avoid it. no project wants to lose. especially in these years taking advantage of the situation under the pretext of bitcoin. To face the beginning of the year, we must be smart in dealing with scattered projects, because 2021 will be more than 2020.

[BayAngelo]

The major reason for the high scams jumping out is due to BTC pumping out. most of these projects are after btc. they wanted to dump their token on people and exchange it with BTC. we will see more of them as BTC keeps pumping. same can be noticed about bounties. most bounties are paying due to investors coming back to new project. we will see more in the coming days.

[so98nn]

This is an endless cycle, people will find ways to earn easy money. Scam is everywhere since crypto started, as time goes by people learn and adapt. Always practice caution and be aware of what you are investing in, if a project promises too much be wary. Just do your research before enggaging in any investment.

Hmm, with the 2021 on its way with few hours, I am pretty sure there would be many many projects that will release themselves with new energy and new promises which doesnt sound to be too good at first glance. So there would be many scams and noobs would be targeted the most in this instances.

The research that you are talking about will be done by old investors only and not by the new comers. So these project owners know very well they will have plenty of ICO investors to get what they need. (Money).

Engagement depends on one fact, whether these projects will be secured with some sort of bonds or not. For ex, project like USDT etc are already in the court hearings and we surely dont want that kind of project taking heads up again. With the new projects, there has to be many assurance then only we can be sure whether to invest or not.

[TastyChillySauce00]

The major reason for the high scams jumping out is due to BTC pumping out. most of these projects are after btc. they wanted to dump their token on people and exchange it with BTC. we will see more of them as BTC keeps pumping. same can be noticed about bounties. most bounties are paying due to investors coming back to new project. we will see more in the coming days.

The same thing that was happening a few years ago. The scammers are seeing the crypto got pumped massively and then they are starting to come with a promising project that full with BS.
It's not all of the bounties are paying dude. i have seen some people complaints about there were some projects that have gone.
swaphub and some scam finance defi projects. That thing that makes me sad there are still hunters blatantly joining in the project that already proven by another member as scam project.

[marilynmanson21]

As long as you don't have to spend money to take part in the airdrop or the like you can follow it,
but if you have to pay money, then don't follow it, because the possibility of a scam is very big, as an investor you must understand this trick, most real projects give for free, but scam projects require you to pay money to take your reward.

[LogitechMouse]

For example:
- Create an investment website for the purpose of calling for investment,
- Create an airdrop that calls for people to deposit fees to pay tokens

These 2 are common already. They are already doing this for a long time.
These scammers are just doing the same thing over and over again and unfortunately, there are many investors who are still falling to this traps.

Now with regards to airdrops, I've participated some airdrops in the past but I didn't ever tried to deposit a certain amount of ETH (still using ETH to transfer at that time) just to get shitcoins. Luckily that I didn't invest into any airdrop since most of them come out useless or shitcoin.

[maxreish]

That's the problem with most of the victims who usually easily got fall for the scam projects like these. Like believing in such crap of giving such good returns. It's signigicant to spot a good project because new projects usually have a good to be true products or goals which seems to be impossible in the future.

Certainly, most of us here are wise enough than before in choosing a potential projects to invest or to join. Especially defi trends are now the scammer's new way to scam people.