Too many project SCAMS - PLEASE CAREFUL

[oioi]

there is a lot of fake coin campaigning, we just need to research it carefully, because from 2017 I know there are a lot of fake coins, even fake projects are very much detrimental to investors and also bounty hunters who spend a lot of their time offering fake coins.

[Dump3er]

I can say it's a nice reminder post. Most of the people are already aware of this, but there may be newcomers among us, it is nice to have a reminder for them. I agree with what you say, with bitcoin showing an unexpected surge lately, people frequently resort to fraudulent methods. With these fraudulent methods, they can easily swindle beginners or greedy people. A person who wants to make easy money is deceived very quickly, unfortunately, fraudsters who know this use this method, please be careful, let's not trust everyone. search the forum if necessary.

The newcomers probably won't come across this thread out of nothing. That's what the scammers exploit. They target those who fall for the easy hype and aren't too familiar how to navigate this forum. Not that this forum is hard to navigate, but in some instances you only know what you need help for if you already ran into a deadlock at full pace.

[erep]

there is a lot of fake coin campaigning, we just need to research it carefully, because from 2017 I know there are a lot of fake coins, even fake projects are very much detrimental to investors and also bounty hunters who spend a lot of their time offering fake coins.

Fake projects still exist every year and are no different from last 2017, so we are required to have good and careful project analysis knowledge and not rely on any hype, many bsc tokens have increased so be careful having to trade each coin.

[v3liana]

Thats why experience and knowledge verry important in cryptocurrency, with knowledge and experience so we can avoid the scam. So if we still don't really know about the project, better we just stay away and don't invest just because of the HYPE.

[southerngentuk]

Thats why experience and knowledge verry important in cryptocurrency, with knowledge and experience so we can avoid the scam. So if we still don't really know about the project, better we just stay away and don't invest just because of the HYPE.

Newbie will not be aware of this, and their eyes are blinded by greed to see all the tricks in this market. Maybe many new entrants will have the opportunity to make high profits in the short term, but if you think you will earn more and are not satisfied, you will lose everything you have.

[Dump3er]

Thats why experience and knowledge verry important in cryptocurrency, with knowledge and experience so we can avoid the scam. So if we still don't really know about the project, better we just stay away and don't invest just because of the HYPE.

Newbie will not be aware of this, and their eyes are blinded by greed to see all the tricks in this market. Maybe many new entrants will have the opportunity to make high profits in the short term, but if you think you will earn more and are not satisfied, you will lose everything you have.

Greed isn't a special characteristic of newbies. I think for newbies it is really that they are new. If they lost a couple of times parts of their investments they'll also pay more attention to what is serious and what could be scam.

[Valak]

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.

Yes. That needs to be watched out for. We need to check the details before investing. I am more interested in investing in exchanges than investing in websites. There are many tantalizing offers on the website, but they are not clear about our assets.

[Meta anggraini]

Thats why experience and knowledge verry important in cryptocurrency, with knowledge and experience so we can avoid the scam. So if we still don't really know about the project, better we just stay away and don't invest just because of the HYPE.

Agree, also not only scam, theres another term recently, its called Rugpull (https://coinmarketcap.com/alexandria/glossary/rug-pull).
Hype and Greed always hunt us as crypto investor, watchout.

[BitTraderCute]

Thats why experience and knowledge verry important in cryptocurrency, with knowledge and experience so we can avoid the scam. So if we still don't really know about the project, better we just stay away and don't invest just because of the HYPE.

Agree, also not only scam, theres another term recently, its called Rugpull (https://coinmarketcap.com/alexandria/glossary/rug-pull).
Hype and Greed always hunt us as crypto investor, watchout.

I think rug pull happens a lot to tokens that can be called shitcoin, rug pull does not only happen on the ethereum platform but on the BSC platform it also often happens like that and makes many new players who buy shitcoin experience very much loss.

in any platform we will see rugpull accidents, scammer will always take advantages from platform that hyping now. at this moment binance smart chain , maybe next solana and other platform. we must becarefull and learn from previous rugpull on how scammers work. they always working in trending platform.

[lepbagong]

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.

Yes. That needs to be watched out for. We need to check the details before investing. I am more interested in investing in exchanges than investing in websites. There are many tantalizing offers on the website, but they are not clear about our assets.

it seems that this is no longer a strange thing and more and more days it has become a commodity to seek profit and no one can do anything with the people who do it. Even though it is clear that they have committed fraud, it is difficult to prevent them, especially those that are not visible to the naked eye.

maybe what you say is the main solution that can be done but we know that many want to play an active role in new projects which are clearly very profitable, if they go according to the rules. so that in the end, fraud is unavoidable because buying on the exchange is clearly safer but the benefits obtained are clearly the difference, don't be surprised there will continue to be rampant fraud, but we hope that one day it will disappear by itself because many know from the start so they can't grow.

[Ekyfitri]

~in any platform we will see rugpull accidents, scammer will always take advantages from platform that hyping now. at this moment binance smart chain , maybe next solana and other platform. we must becarefull and learn from previous rugpull on how scammers work. they always working in trending platform.

the most vulnerable I think at this time is BSC. because you can see how Binance's smart chain is currently being adopted for new projects. in fact, every day new tokens are created from the BSC network. the community calls them shitcoin that can be traded without a clear team and product.

[warg2017]

the most vulnerable I think at this time is BSC. because you can see how Binance's smart chain is currently being adopted for new projects. in fact, every day new tokens are created from the BSC network. the community calls them shitcoin that can be traded without a clear team and product.

I remember scam projects have official website and whitepaper in 2018, but now haha, do not need this, what scam projects need is created new coin in the chain of BSC and then can be trade in PancakeSwap, how simple and crude!

[enawati]

For a few years many bad people used the popularity of Bitcoin and Ethereum to scams others people. I remember scam coin named Onecoin, which were alot of investors in my country got scams.
And currently i seen there are many fake tokens created by using smart contract of Ethereum or Binance, we need to double check the real of smart contract address before traded tokens on DEX like in Uniswap or Pancake. So before jump in to crypto investment, we have to keep learn about all risk on crypto and how to avoid it.

[ziyaaa]

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.

Thank you for the warning. It is very important for people here in the end. The ones who are participating in different projects (including me) are devoting their time here. If a project which a person participated in turns out to be scam, then all the effort goes for nothing.

[dongyi17]

Yeah I agree to you, there are many scam now a days they created project website that looks good and airdrop to convince investor to invest. I'm also experienced to get scammed, their token had already in exchange, their presale succeed and after 2 months they run. Today I'm careful, I look for website if they have team and link social media for less scam.

[Adeosho15]

Thank you very much for this information, I nearly fell for an airdrop that requires me to pay ETH to receive the token. I also fell for a token that’s worth thousands of dollars but doesn’t have an exchange to trade such token are used by scammers

[Pamadar]

I agree, that currently there are hundreds of scam projects with fraudulent schemes using the DeFi concept. what is clear is that you as an investor must be more observant in the selection. because right now there are so many scammers. I myself have decided to be more selective for the selection. if you really support a better project that is clear and has a large community and market

it's not bad to take some risk as long as you are doing your research there's still a good chance to earned using this venue.

There are so many scammers and it's no longer a secret but you can lessen your chance of participating to any kind of project if you are

well-informed in how those scam developers work, the more you investigate, the more you'll be able to sort out which project to invest your money.

[matico]

There will be scam projects every now and then,  what is most important is to safeguard yourself from falling victim of these scam.  In Cryptocurrency,  it's is very easy to detect scam coin except you are greedy. When you buy any Coin, try to find out who is behind the coin and decide if such coin is fully decentralized! These are few checklist for you to consider before investing in any coin!

[Meta anggraini]

Thats why experience and knowledge verry important in cryptocurrency, with knowledge and experience so we can avoid the scam. So if we still don't really know about the project, better we just stay away and don't invest just because of the HYPE.

Agree, also not only scam, theres another term recently, its called Rugpull (https://coinmarketcap.com/alexandria/glossary/rug-pull).
Hype and Greed always hunt us as crypto investor, watchout.

I think rug pull happens a lot to tokens that can be called shitcoin, rug pull does not only happen on the ethereum platform but on the BSC platform it also often happens like that and makes many new players who buy shitcoin experience very much loss.

in any platform we will see rugpull accidents, scammer will always take advantages from platform that hyping now. at this moment binance smart chain , maybe next solana and other platform. we must becarefull and learn from previous rugpull on how scammers work. they always working in trending platform.

Rugpull isnt accident, its a scam and the team usually who commited that action by withdrawing the liquidity of the token that they provide before.

[judas]

Every day, new projects enter the cryptocurrency market and it doesn't seem like there will be some kind of system which will differentiate promising ones from scams. So we have no other choice than doing our own research.