Too many project SCAMS - PLEASE CAREFUL

[Swordsoffreedom]

New cryptocurrency users will be quickly swayed by this if they are not careful and get tempted quickly. Problems like this are very common not only now when bitcoin is soaring, but when bitcoin is far from its current price, scammers keep making plans to scam people. You have warned in this thread and also hope that those of us who are familiar with crypto should remind our closest friends not to be influenced by scammers.

Not only newcomers but also many professionals are also getting the victim of scam projects. Many times people can make mistakes due to unconsciousness. But some people make the same mistake over and over again and they are the victims of repeated scams, causes of their excessive greediness. You know, only greedy people will fall for the Ponzi scheme, it is a very common but successful method to trape the greedy people. You can't prevent the scammers but you can spread awareness, so everyone should use their own brain before investing in a project.

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[tees420mar]

I would say crap or failed projects. We all know many devs make coins with the intention to loot the money from the investors by enticing huge profits. Even most of the projects failed in 2-3 months after the launch. Recently I noticed a trend many investors are trying their luck by buying meme coins and the majority of the buyers lose money in meme coins so we should be focused only on trusted and tested coins. I don't say new projects are not good but we have to be very selective when plan to buy.

[Muslimin mj]

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.

This type of scam has been around for a long time and scams like this often occur at a time when bitcoin is on the rise and the popularity of altcoins is also being discussed. So the scammers take the opportunity to create various types of scammed products. then we all have to be careful, especially the newbies.

[omone1]

I have resolved to stop buying stupid IDO and preslaes. I lost over 20+ ETH to useless projects. People just wake-up and create a copy cat tokens without any use case only imitation. Where are all the Y family series? BSC now has huge scamming projects that where able to win the people's heart, all of a sudden is a flash loan attack and that ends the project.

[ScamViruS]

I have resolved to stop buying stupid IDO and preslaes. I lost over 20+ ETH to useless projects. People just wake-up and create a copy cat tokens without any use case only imitation. Where are all the Y family series? BSC now has huge scamming projects that where able to win the people's heart, all of a sudden is a flash loan attack and that ends the project.

You realized after the expensive loss. Most of the projects that are coming in the market now are aimed at fleeing with the money of the investors. Which is why they want to create hype about that project in different ways. Since you are a victim of these projects you may have seen how these projects fool people.

Most investors do not have the ability to stay in the market after gaining such a valuable experience like yours. So they should spend time doing market research which will bring good results in future.

[dhemasm]

I have resolved to stop buying stupid IDO and preslaes. I lost over 20+ ETH to useless projects. People just wake-up and create a copy cat tokens without any use case only imitation. Where are all the Y family series? BSC now has huge scamming projects that where able to win the people's heart, all of a sudden is a flash loan attack and that ends the project.

That was really sad to hear, Well from my perspective current market especially IDO & Presales didn't have new concept and use case, Basically most of them just recycling same concept for example as we can see, Farming, High APR, Reflect For DeFI and many more but even like that not all IDO was bad though, Just make sure too join on some big IDO platform and if possible just sell your invesment as early as possible especially after getting some profit after listing Price + Bonus, Just make sure to always do some deep research and avoid it possible, It's better to invest on some reliable crypto like BNB, ADA, BTC, ETH and many more, Good luck!

[kro55]

- 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 two methods are the oldest but people are more attracted to them and fall prey to scams. Only greedy people fall prey to these two deceptions. I will not call the people who want to earn money without hard work and find these shortcut ways ignorant but they are greedy. No matter how hard you try to convince them, they will never understand, unless they are deceived a few times. But, there is no alternative to preventing these scams without raising awareness.

[Princejebs]

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.

As Long as this environment remains unregulated, scam and fraud activities will remain constant, even in a the outside environment of traditional finance, there still exist some numbers of reported scam talk less of here that's not watch by the government, they might be doing privately but since crypto are pseudonym in nature, you can't trace all the bad actions in this place.

[MoneyJ]

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.

As Long as this environment remains unregulated, scam and fraud activities will remain constant, even in a the outside environment of traditional finance, there still exist some numbers of reported scam talk less of here that's not watch by the government, they might be doing privately but since crypto are pseudonym in nature, you can't trace all the bad actions in this place.

True to its sense. Regulation must come first to lessen being scam. But the problem is where can  decentralized applications fitted in . In what area of government would likely be in harmony as to let it spawn into a mass utility for the people such as cars for transport or medicine for health.

[hidingyou]

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.

I bet newbies today are FOMO and FUD. They fail to see the good projects because they are hyped by scam projects ( I am telling this not to be toxic but because I was once like them and wants to help them by reminding them my experiences) they should fix that trait right away. research thoroughly those projects to see if they are legit or not so you won't waste your time and money

[H1N1]

This is a very important warning for novice investors, because the increasing number of crypto enthusiasts to date makes it a great opportunity for rogue elements to take advantage of it to commit fraud. Learn exactly what you are going to invest in, lest the lack of research you do makes you trapped in a fraudulent project.

Yeah, scammers are always trying to find a way to steal people's money, many fraud projects has been created for that.
I think the safest way to invest on a project is through a launch pad, for example Binance launch pad. It is safer than invest in public startup projects which we don't know yet unless we conduct some intense research about it.

[King Khaizan]

this is something we are very worried about, when cryptocurrencies are growing, people's trust levels are increasing, in fact there are parties who take advantage of the situation to take negative actions that harm many parties. This needs our collective attention to eradicate every crime committed by them.

[avarnet]

It is true that at the end of 2020, many fraudulent investment websites committed fraud so that many people were deceived by such sites so that many people lost because of the wrong place to invest, and for all of us we must be more careful in choosing a website to invest so that we don't invest. there is a loss in investing. We have to really research the website we want to choose, because our choice is the choice of our future masses

[herizal85]

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.

Yes, it's true that we have to research a project first if we want to participate in it, from the past until now I think many projects end in fraud and this has happened to me when I joined a project with the lure of payment in bitcoin but ended up with deception.

[gwdf1]

The first rule is that we shouldn’t trust projects that promise us big gainings without risks. But actually, the thing is that scam projects don’t look furtive in most cases. Their task is to be as plausible as possible, so it is really difficult sometimes to find a trick. So the main thing is not to invest more than 10% of your capital in such projects and not to invest the whole sum in one project. You had better diversify.

[Wicked17]

The first rule is that we shouldn’t trust projects that promise us big gainings without risks. But actually, the thing is that scam projects don’t look furtive in most cases. Their task is to be as plausible as possible, so it is really difficult sometimes to find a trick. So the main thing is not to invest more than 10% of your capital in such projects and not to invest the whole sum in one project. You had better diversify.

Most of the the time, those project that gives hope with fast ROI and big gains in a short period of time are mostly scam. Never ever trust those projects otherwise you may end up losing a lot of money. And also regarding the percentage its fine even if you put half of your money as long as you know and you already research and well known creator are founder.

[zachyboy090118]

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 so many scammed now using crypto technology, actually im one of the victim of this kind of scammed l, a betting website scammed using USDT token as their tool in there scam. Im talking about Muyan66 which snatch almost billions of fiat all over asia.. But we learn through our mistake and life must go on, we should always be vigilant always and do a review always.

[rezasg]

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.

[BAGOBO]

Most of the the time, those project that gives hope with fast ROI and big gains in a short period of time are mostly scam. Never ever trust those projects otherwise you may end up losing a lot of money. And also regarding the percentage its fine even if you put half of your money as long as you know and you already research and well known creator are founder.

Don't invest in any project without you knowing the details of the project especially make sure the team must be valid and not anonymous, control the emotions not to rush to invest your assets but have to test the feasibility of developing the project in a month, it will complete the analysis before making a mistake in investing.

[Orange89]

Very Well Said nowdays i am receiving so much Fake/Scam token on my wallet and mostly such scam token are listed on their own website which when you connect with your main WALLET your wallet fund can be loss or Hacked if you have any doubt that project is scam create a new wallet send your token to that new wallet and then you can do transaction atleast if its scam your MAIN WALLET fund will not be effected