Too many project SCAMS - PLEASE CAREFUL

[Hasan986]

There are many more investments in the market right now. Taking advantage of this, many scam teams are coming up with scam projects to grab their money. Many mistakenly fall into their trap and lose their money.  So before investing in any Ieo, ico, Ido, you must check whether the project is real.

[pealr12]

No amount of trying to be careful that can prevent anyone from fall project,  you may do your possible best to do a background check on a project, some still turned out to be a scam because any project can easily change.

[BayAngelo]

the worst that hit so many and is still happening today is scammers creating fake token and asking people to pay small fees to claim airdrops. after which they made away with huge amount of money. so many were scam using this method. i was a victim and i decided not to and will never partake in any project that requests users to pay money to claim rewards. some even listed and once the claim is over, they rugpull.

[MaiQwaN]

The more people and money will be poured into investments in cryptocurrencies, the more scammers will try to deceive you to take this money from you. Increasing your educational level and experience allows you to resist the actions of fraudsters.

[CLS63]

Not only the number of scam projects is increasing. But also, the kinds of scam projects are also changing in time. Now, there are 11468 coins in the market according to Coinmarketcap. This is an amount more than we need. As the number of coins increases, scam projects are also seen more common. At this point, reading the whitepaper of a project is really important. You should understand first what kind of a project you are dealing with. After a deep research, you can make your own decision about whether to invest into it or not. Not all the investors are doing this unfortunately but I hope to see most of them doing it. This can help decrease the number of scammers like this.

[finaleshot2016]

It simply demonstrates that there are a large number of cryptocurrency users, which is why the number of failed and scanned projects is increasing at an alarming rate. Imagine there are a lot of scam projects being created every day, and the majority of them are executed so well at first that you don't recognize it as a scam project.

I knew a lot of coins that failed because the devs rug pulled it, and you can't really tell which is which without checking the mirror and your modern car. That's why always DYOR or do your own research, if you lose then it's your fault for not trusting yourself.

[denasha92]

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!

true, Scam project will never die. they will keep appearing time to time. there are some websites and applications that can show us the details about the projects. it can help us a little. but still, there are some projects that have a high trust score but they turn into a scam or abandoned in the end after collecting some investors money. so choose the project wisely and DYOR carefully.

[sisikin]

Even if you are careful, you will be deceived. The team of scammers is very mature now, and they don't feel anything on the surface.
Many newly issued coins are recommended not to invest a lot of money in the early stage. You can look at the market before making a decision.

[Fredomago]

Not only the number of scam projects is increasing. But also, the kinds of scam projects are also changing in time. Now, there are 11468 coins in the market according to Coinmarketcap. This is an amount more than we need. As the number of coins increases, scam projects are also seen more common. At this point, reading the whitepaper of a project is really important. You should understand first what kind of a project you are dealing with. After a deep research, you can make your own decision about whether to invest into it or not. Not all the investors are doing this unfortunately but I hope to see most of them doing it. This can help decrease the number of scammers like this.

Not all are doing this, but those who already experienced scam are taking their time finding the right project before investing. They are more careful now not to experience the same output from the last investment that they've taken.

Not just by reading white paper, but carefully observe and analyse how the developers will bring the outcome that they are promising.

If there's realization and you see that most of it are doable, it's the right time to follow and keep chasing all the progress while you are supporting the project, your own understanding will lead you to gain success, be very careful in picking your asset to invest.

[Gayong88]

Yes, you are right, there are many projects born almost all the time with different concepts, the same goal for success according to the initial plan. Well, in my opinion, some consideration is needed before joining and following it. I myself prefer to see the track record of the manager who handles the project that I will participate in plus independent analysis as another additional reference for me to determine the next step. Thats means. we don't waste our time and energy in vain.

[Galley]

With so many projects that we are witnessing at the moment, it is very easy to get confused when choosing an object for investment. Fraudsters are already so skillfully disguising their actions under the guise of successful projects that it is very difficult to understand where what is. You can't rush to make a choice and even more so invest more than you can lose without much damage.

[haleema]

Thanks for your advice, scamming is everywhere, but only greedy & non educated  person is the victim on scam.
First learn then invest, what is Crypto how that work, many of  peoples thinking Crypto is money making mission, you will be rich if you invest in Crypto,  this concept is not good, if you don't know how to walk.

[concept2]

Today is 30/08/2021 and you are correct. There are many scam projects stealing people' money and disappear. Investing with a mind full of knowledge will prevent you from putting money in wrong places. Back in 2017-2018, many people in my country lost their money in fake crypto projects which turn out to be multilevel marketing businesses or HYIP. Always raise your attention to any project because your favorite one can turn into devil, too. Remember to take care of your money since there is no third party to surveillance and save you from losing money. Cryptoworld is for individuals to learn and experience by themselves

[adibi12]

That is a common thing in the crypto world, it is true that sometimes there are scam projects by playing in the airdrop to deposit funds and to those who are not responsible, and there was even a project in the past where the project had already reached hardcap, in the future. the project has become a scam, I wonder how they feel about the suffering of the people they have scammed.

[Baimovic]

Every year there will be a lot of such things that appear in crypto especially when the price is high and when a new system is launched and gets high hype then it becomes an opportunity for them to create some scam projects taking advantage of the moment, it is clear that thoroughness and clear analysis must be done when we will go in and invest in new projects.

[tvplus006]

Thanks for your advice, scamming is everywhere, but only greedy & non educated  person is the victim on scam.
First learn then invest, what is Crypto how that work, many of  peoples thinking Crypto is money making mission, you will be rich if you invest in Crypto,  this concept is not good, if you don't know how to walk.

You are wrong to believe that the victims of fraud are greedy and uneducated people. Since not everyone understands how a smart contract works, so everyone can become a victim of scammers who are very smart representatives of the crypto industry, are able to steal money from your wallet in this way.

[Tomohisa]

Not only the number of scam projects is increasing. But also, the kinds of scam projects are also changing in time. Now, there are 11468 coins in the market according to Coinmarketcap. This is an amount more than we need. As the number of coins increases, scam projects are also seen more common. At this point, reading the whitepaper of a project is really important. You should understand first what kind of a project you are dealing with. After a deep research, you can make your own decision about whether to invest into it or not. Not all the investors are doing this unfortunately but I hope to see most of them doing it. This can help decrease the number of scammers like this.

Although the number of scam projects is increasing but investors today are also smarter than they were before. All the basic things that investors today doing before then invest in a new project like you said, reading the white paper but also checking on team profiles, check if they're real people or face generate by AI,... Investors ain't stupid and easily got scammed like they used to be and this is a good thing.

[Matteorsini]

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.

Before venturing into any investment, you should always conduct an extensive research to lessen the risk of getting scammed or losing your money. Carefully analyze the project's mission and vision. Check out its white paper, roadmap, and affiliations. They must have a dedicated, legit, and transparent team. A positive community that supports the project is very important as well. I have taken into account the above criteria, that's why I feel secured holding some top-performing cryptocurrencies in my portfolio including this undervalued gem called Stakenet XSN.

[kapalmabur]

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!

true, Scam project will never die. they will keep appearing time to time. there are some websites and applications that can show us the details about the projects. it can help us a little. but still, there are some projects that have a high trust score but they turn into a scam or abandoned in the end after collecting some investors money. so choose the project wisely and DYOR carefully.

That's true from the past until whenever I think scam projects will always exist,
Besides that, what makes all of us nervous is that they are also getting smarter in terms of making the project as if it was a promising project

[AhmadM]

Even if you are careful, you will be deceived. The team of scammers is very mature now, and they don't feel anything on the surface.

IMO at least it would be more relieved if you invest carefully plus doing it based on your own research even the result is not really satisfying rather than blatantly following the hype without any thought before. As you said there's a chance that the scammer becomes more mature, take advantage of any possible vulnerability in the loophole, or deploying a new scam method but it isn't the reason for people to be careless.