Scam Coin On PANCAKESWAP

[martina14]

PANCAKESWAP is a fairly new crypto exchange. Many new cryptocurrencies are introduced there everyday.

Are you any scam coins on this site? Anybody faced any scam coins there before?

There so many scam coins arise now in the cryptocurrency mate, and most of the scam coins at the moment are riding for what is trending now in which is almost the same what happened into UNISWAP were after the successful happened unto it most project utility token adopted the platform of UNI and now Pancakeswap was more trending so far. This is how the scam coins ride in the flow what is trending now.

[Woodie]

Honestly this is what happens when something isn't regulated, anybody with the right knowledge can get access to the platform and take advantage , which is why a centralized exchange is better as you can hold them accountable and they too do their own research if you meet their requirements.

Besides I think most altcoins we have today are their to get our bitcoin not that they have something to offer, I don't think so.

[sulendra12]

Even this <name>SWAP thingy exists, we had already similar scheme on 2017 - 2018 called DEX but it's eth based. Where people can actually list their coins without any screenings. So, people could sold their coins before the official team listed it on desired exchanges.

Not a surprise when I see this kind of thread exists.

[Asuspawer09]

PANCAKESWAP is a fairly new crypto exchange. Many new cryptocurrencies are introduced there everyday.

Are you any scam coins on this site? Anybody faced any scam coins there before?

I don't know if it is just easy to create this contract in the BSC Network but there are so many of this scam address which is created most of the time when there is a hype project and a lot of people are just waiting to get in finding the contract address.

They will also spam this address in the telegram or discord of that project to scam someone uses this contract. I guess it's kinda normal so everyone just needs to be careful with this and make sure to invest in the right address and at the same time do every research before investing.

Just don't take anything from strangers, just make sure it came from the right sources before jumping right into it.

[CaVO32]

PANCAKESWAP is a fairly new crypto exchange. Many new cryptocurrencies are introduced there everyday.

Are you any scam coins on this site? Anybody faced any scam coins there before?

I don't know if it is just easy to create this contract in the BSC Network but there are so many of this scam address which is created most of the time when there is a hype project and a lot of people are just waiting to get in finding the contract address.

They will also spam this address in the telegram or discord of that project to scam someone uses this contract. I guess it's kinda normal so everyone just needs to be careful with this and make sure to invest in the right address and at the same time do every research before investing.

Just don't take anything from strangers, just make sure it came from the right sources before jumping right into it.

We should expect that this will be another playing ground of these scammers. Now that BSC network is getting popular, scammers will always find a way how to create fake tokens under this platform. If you are going to transact in pancakeswap, make sure that the address is the official one of the project. Don't just type the name of the token because that's not a very safe to do, it is much secure if you will paste the contract address itself.

[poldanmig]

Tokens with "Fair Launch" do carry a high risk. in no 10 minutes I have ever experienced a scam. indeed people are interested in instant profits to be able to buy tokens at Pancakeswap. but after i calculate even though you gain the overall loss. and there are dozens of scam projects. every day there are so many scam altcoins that many people simply lose money

[MishaSER]

I recently came across DONALD Finance and in my opinion it is a very suspicious project. Therefore, I can say that yes, suspicious and even fraudulent projects are possible.

Why do you think that project is suspicious? Are there strange things that don't fit the logic going in that project?
so you suspect the project and will be a scam project?

I looked at the analysts at this project, at first glance the project looks good, but there is an independent analyst and he said that there is a possibility that the team can take all the liquidity. This is not 100%, but as they say, this analyst is believed.

[H1N1]

it all depends on how you know the coins you want to invest, if you want to get big profits, of course you have to be able to accept a big risk too, Pancakeswap is a place for new coins to grow, if you can find tokens that have the potential from the start, of course big profits will come your way. Likewise, vice versa, it takes extra care to invest there.

The OP is talking more of coins that are cloned, coin with same name but different custom addresses. They are fake coin found on Dex and traded to scam traders. It is important for both new and Old traders to understand ways to identify fake coins and prevent the trade. IMO there nothing exchanges and owners can do but traders might need to be more careful

Copy cat fake coin is the worst scam in decentralized exchange, we should more careful when using DEX.
I always check the address of the token i want to buy because anyone can list their own token in decentralized exchange like pancakeswap.
This is why some people prefer to using centralized exchange than decentralized exchange.

[Kehindem]

Though have not really trade there but have a lot of people that do trade their they have not reported any scam there before, though I will not be surprised if they report any because, if a platform is trying to make wave we will always see a coin like that there also, that from my own perspective.

[retreat]

PANCAKESWAP is a fairly new crypto exchange. Many new cryptocurrencies are introduced there everyday.

Are you any scam coins on this site? Anybody faced any scam coins there before?

many of my friends are victims of this kind of scam coin on pancake. because it is easy to make bsc tokens, it causes many fraudsters to make fake projects just to steal investors' money in the pancake.

After listing and having a lot of sales the fraudster immediately rug-pull. don't easily believe telegram groups who say their new bsc token on pancake is potential.

[mrongoz_imut]

Have more evaluate with new token listing on pancakeswap, the same pancakeswap like etherdelta but have different network between eth and bsc, they listed coin as illegal because etherdelta just add contract address you can sell your coin without anything bad or waiting for listing. Pancake have the same without any announcement coin will listed.

[SeaSoul]

Have more evaluate with new token listing on pancakeswap, the same pancakeswap like etherdelta but have different network between eth and bsc, they listed coin as illegal because etherdelta just add contract address you can sell your coin without anything bad or waiting for listing. Pancake have the same without any announcement coin will listed.

That's true but Etherdelta is no fun, way too complicated and slow and buggy. The problem with those decentralized exchanges is the problem that it's very easy for scammers to list their scams. Really important to pay attention to the contract address.

[john1010]

There's a lot of coin who are circulating in pancakeswap are scam coin, we cannnot blame pancake about that, we need to do our assignment this is our job as investor in one's project, we can read alaways this word, "DYOR" it means do your own research, we are the first person who are responsible in everything, remember this is our money so be very careful in everything we make.

[coin-investor]

PANCAKESWAP is a fairly new crypto exchange. Many new cryptocurrencies are introduced there everyday.

Are you any scam coins on this site? Anybody faced any scam coins there before?

If you are going to trade on decentralized exchanges you get this warning and you should not ignore this warning and always follow the DEX's warning, scammers know that there are careless people who will ignore warnings because they are in a hurry to trade.

[SeaSoul]

PANCAKESWAP is a fairly new crypto exchange. Many new cryptocurrencies are introduced there everyday.

Are you any scam coins on this site? Anybody faced any scam coins there before?

If you are going to trade on decentralized exchanges you get this warning and you should not ignore this warning and always follow the DEX's warning, scammers know that there are careless people who will ignore warnings because they are in a hurry to trade.

Up to us to do our diligence because if Pancakeswap was in full control over the coins that are getting listed or not, there would also be complaints when Pancakeswap decided to not list a certain coin that the community wants to see listed. Also, what if Pancakeswap makes a mistake and lists a scam without knowing? They would have full responsibility for any harm done. Not a great position to be in. It's a great service and I am ok with doing my own research.

[mrongoz_imut]

Better trade and invest with potential coin only on pancakeswap and never want to buy with shit coin and have higher slippage fees transaction, I see many trader try with cheap coin and get much profit but always have risk by removed liquidity and you can't sell coin. Pancakeswap easy for listing shit and scam coin without selective which one coin can listed on pancake or not.

[carlisle1]

PANCAKESWAP is a fairly new crypto exchange. Many new cryptocurrencies are introduced there everyday.

Are you any scam coins on this site? Anybody faced any scam coins there before?

If you are going to trade on decentralized exchanges you get this warning and you should not ignore this warning and always follow the DEX's warning, scammers know that there are careless people who will ignore warnings because they are in a hurry to trade.

You always needs to focus and read every information before making your entry, there are notice that you need to understand in order to avoid making mistakes and become a victims of those scammers and hackers around, knowing what you're doing inside any exchange especially with DEX is very important, all must be agree upon and it's you who are holding your fate once you use this kind of services.

Focus and never to put down your guard as it will be taken right away by scammers who knows those careless traders.

[muksal]

Well of course there are many scam coins on pancakeswap, it's a decentralized exchange so any coins can list there.
The only way to prevent you to SCAME is do your own research the Project, know their Product, what are the use cases of the Coin.

[TastyChillySauce00]

PANCAKESWAP is a fairly new crypto exchange. Many new cryptocurrencies are introduced there everyday.

Are you any scam coins on this site? Anybody faced any scam coins there before?

If you are going to trade on decentralized exchanges you get this warning and you should not ignore this warning and always follow the DEX's warning, scammers know that there are careless people who will ignore warnings because they are in a hurry to trade.

right? even if people want to trade coins that aren't officially recognized by pancakeswap itself they need to go as far as copying the smart contract address and pasting it to the swap platform meaning those coins are obviously created by someone who has no link to pancakeswap whatsoever so if anyone getting scammed out of buying some random shitcoins that coming out of nowhere they definitely are as guilty as the scammer because they intentionally buying it despite all the complicated step they need to take.

[Golftech]

Well of course there are many scam coins on pancakeswap, it's a decentralized exchange so any coins can list there.
The only way to prevent you to SCAME is do your own research the Project, know their Product, what are the use cases of the Coin.

Check liquidity. development of platforms and also smart contracts. This is an essential or basic thing if you are interested in buying altcoins that are listed on the Pancake. because there are hundreds of tokens that are indicated as scam. There have been many cases of people being scammed as a result of them getting caught up in the high hype when people say they will experience a high rise. if the price is over priced, don't force it to buy if you are not ready for the risk

Always update yourself with the current market movements, you'll be able to  know the project if you are updated

and not just following the hypes. Most of those who failed doing their research are mostly the victims of scammers,

they use alluring offers to get the attentions of those traders and investors to participate and also invest their money

to shit projects that leads them to ends up losing their money.