A painful loss

[LostEcho]

I lost 430$ to a metaverse scam project yesterday, the project looks a lot like a professional job to me, everything was so detailed that you can't easily smell any rug pull, here is the project's website https://markmeta.finance/ but unfortunately it's a scam project, you can buy but you can't sell so here are what I find out

1. The price of this token kept surging and surging, there was no retrace or whatsoever which to me is a red flag, the whole chart was a straight line aiming for the moon.

2. Telegram channel was restricted, no one can make comments or send messages, another red flag that I don't get suspicious over

It's too late already but hope someone learn one or two lessons from this

[Upgrade00]

Sorry for your loss, almost everything on the internet is a scam and you should treat it as such, that way you will be more cautious about how you invest. If you had looked up the site, you would see that it was registered less than a month ago, and lots of information are redacted, showing no transparency;

Code:

Expires On
2023-01-19
Registered On
2022-01-19
Updated On
2022-01-24

Source

You can also make a detailed thread in the Scam accusation board to warn more users using this link as a template

[BernyJB]

Just a question: the site shows a market cap of only $200K, so if I understand it correctly, it should come as no surprise it's not easy to trade. Are there any more reasons, other than the site being new, to say it's a scam?

[BIT-BENDER]

I lost 430$ to a metaverse scam project yesterday, the project looks a lot like a professional job to me, everything was so detailed that you can't easily smell any rug pull, here is the project's website https://markmeta.finance/ but unfortunately it's a scam project, you can buy but you can't sell so here are what I find out

1. The price of this token kept surging and surging, there was no retrace or whatsoever which to me is a red flag, the whole chart was a straight line aiming for the moon.

2. Telegram channel was restricted, no one can make comments or send messages, another red flag that I don't get suspicious over

It's too late already but hope someone learn one or two lessons from this

I would want to say this don't start your research after things starts to get suspicious, always do this from the beginning, I am surprised about your conclusion on this Post and I wonder why you didn't atleast see one of those red areas from this project before you invested.
I don't know your capital capacity but for me I start with a little that's below $100 then after I am satisfied I get enter again with higher than what I first invested.

[Ultegra134]

I lost 430$ to a metaverse scam project yesterday, the project looks a lot like a professional job to me, everything was so detailed that you can't easily smell any rug pull, here is the project's website https://markmeta.finance/ but unfortunately it's a scam project, you can buy but you can't sell so here are what I find out

1. The price of this token kept surging and surging, there was no retrace or whatsoever which to me is a red flag, the whole chart was a straight line aiming for the moon.

2. Telegram channel was restricted, no one can make comments or send messages, another red flag that I don't get suspicious over

It's too late already but hope someone learn one or two lessons from this

I would want to say this don't start your research after things starts to get suspicious, always do this from the beginning, I am surprised about your conclusion on this Post and I wonder why you didn't atleast see one of those red areas from this project before you invested.
I don't know your capital capacity but for me I start with a little that's below $100 then after I am satisfied I get enter again with higher than what I first invested.

Okay, I'm quite of a noob when it comes to such projects on DeFi, how exactly do you conduct research regarding a specific project? What do you lookout for, what red flags could one possibly spot, and how are these determined? Certainly, there's no precise way of being 100% safe, but how do you reduce the risk of getting scammed?

[Odusko]

Next time,make enquiry before you dive into new project so that you won't loose your money, you shouldn't have invested on it as you noticed that telegram chat was restricted and the coin was increasing anyhow, 430$ might look small but is something, sorry about the lost ,thank God is not more than that.

[The Cryptovator]

Yea, likely rug pull. Dev. skip with the fund they raised. That's the reason why I am not much interested in brand new projects. They just come to the market to pull the money, nothing else. They use the most recent trends like currently, Metaverse trending on. So it's better to avoid brand new projects and choose some potential existing projects to buy on the dip. Sorry for your loss.

[Falconer]

I lost 430$ to a metaverse scam project yesterday, the project looks a lot like a professional job to me, everything was so detailed that you can't easily smell any rug pull,

It is much more difficult to pinpoint a professional scammers on an altcoin project because they learn and continue to learn from past mistakes. There are dozens of projects that end up in scams where they cost their investors huge losses after investing in them. This is nothing new to the altcoin project although it may be hard to spot at first.

Unfortunately there are still many people who are tempted by altcoin projects because of the promising returns, but you have done something good because you have done some analysis. Now make scam accusation for that project and tell people to stay away from the project that is costing you money right now. Sorry for your loss, it hurts so much sometimes.

[Smartvirus]

I lost 430$ to a metaverse scam project yesterday, the project looks a lot like a professional job to me, everything was so detailed that you can't easily smell any rug pull, here is the project's website https://markmeta.finance/ but unfortunately it's a scam project, you can buy but you can't sell so here are what I find out

1. The price of this token kept surging and surging, there was no retrace or whatsoever which to me is a red flag, the whole chart was a straight line aiming for the moon.

2. Telegram channel was restricted, no one can make comments or send messages, another red flag that I don't get suspicious over

It's too late already but hope someone learn one or two lessons from this

It's the risk one has to face on the crypto field and it always looks legit until it is not. That's how unfortunate it could get when you don't know how to weigh the risk. The more reason why, the policy goes that, you should invest only what you can afford to loose. So, when it eventually turns out to be a scam or some investment on a sh*t project, you can still be satisfied with the lose and maybe gain or get compensated from some other meaningful investments.
It's sad you saw them flags and didn't go with it but the important thing is; hope you learnt something out of this lose. If you did, then you might not have lost it all.

[Stalker22]

Yes, that looks like a classic rug pull.


https://www.livecoinwatch.com/price/MarkMeta-MMT

Although, I must admit, their website does look enticing, I noticed one red flag: they fail to mention the team behind the project. Serious projects should have a serious team.

[Trojane]

Sorry man for you lost, better still you have to be careful of the projects you get engaged in next time cus this might end you up on a flat ground, saying same thing like what the naysayers do; "crypto is a big scam and I can't invest in it" according to one of the naysayers that his relation made 17000dolls from crypto in it's ATH as a newbie.. baffling right? Yeah it is!
Go on with it, I'm not always advising anyone to toil with shitcoins cus I don't know thier durability ( though I don't know bitcoins's durability too but atleast, this has been stable for years now..) not some shitcoins that haven't even ensured proper security on getting thier sites spammed, TBD ....deeply sorry for those bucks

[sunsilk]

That's really painful and I'm sorry for your loss.

These rug pulls are kept on happening and everyone has to be careful with what they invest. People are liking the turn of the metaverse projects and yet, they're not too careful and are too quick to believe with the project's goal.

That's a quite big amount already but not if you're in a first world country. Still, OP you can still recover that in some other ways and be meticulous with projects you invest. When you see red flags, avoid them already.

[coinsycrip09]

wow, you really are very unlucky. sorry for you.
maybe this is a new way to commit fraud, that's why i don't invest in new projects. at first it looks very interesting and they will also definitely show a very large profit so that we are interested in investing in it but the results are like what happened to you.

your experience will be a lesson to others.
we have to be more careful and really have to do research over and over again before investing.

[TravelMug]

Just charge it to experience mate, that's how it is, there's a lot of scammers here in the world that we live in. So we really need to be very careful specially our hard earn money. Hopefully you can learn from this mistakes and won't make the same error again.

And you are lucky that you just investment that small amount. Imagine those who have pour thousands of dollars, and feel what they are feeling right now.

[goinmerry]

That loss should serve you a lesson. The good thing is, for every painful loss, you are learning and that will be your reason to become more vigilant and careful the next time you invest. The loss is already there and no choice but to embrace it.

It's ok to cry. It's ok to feel regret. It's ok to feel to be disappointed but at the end of the day, you have to move on.

Move forward and become a better investor next time.

[Victorik]

Oh, so sorry about your loss mate. A lot of scam out there looking so clean that you suspect nothing. This is a lesson for all, One thing is, always do due diligence before investing in any project. Ensure that the telegram group is lively and there's actually a buy and sell order.
Anyway, even with all our carefulness, one can only pray not to fall a victim of scam.

[bonyaserg]

Yes, the loss of your funds on a fraudulent project is very strongly reflected in the fact that faith in promising projects is lost every day. And also the loss of funds has a very strong impact on health. This is a very strong psychological blow. So, in order to avoid losses of personal funds, you need to invest in proven crypto projects that have already been on the cryptocurrency market for several years.

[Sanitough]

Oh, so sorry about your loss mate. A lot of scam out there looking so clean that you suspect nothing. This is a lesson for all, One thing is, always do due diligence before investing in any project. Ensure that the telegram group is lively and there's actually a buy and sell order.
Anyway, even with all our carefulness, one can only pray not to fall a victim of scam.

As i open the site of the project, i was somewhat amazed of how the developers designed it. From there, its already a plus factor. But if you do your due diligence and check if there is transparency of the project, you will start to create some doubts. Once you start to hesitate but still insist that the project may succeed, then start investing with a small amount so that if the project end up as a scam, you will never be totally in loss and disappointed. So maybe this experience will bring lessons for you and by next time, do not trust easily from those new and unestablished projects as most of them are scams.

[Oshosondy]

I lost 430$ to a metaverse scam project yesterday, the project looks a lot like a professional job to me, everything was so detailed that you can't easily smell any rug pull, here is the project's website https://markmeta.finance/ but unfortunately it's a scam project, you can buy but you can't sell so here are what I find out

Sorry for you loss, ICO, DeFi, NFTs and now Metaverse, as there are new trends, scammers will look into it to make sure they find ways to see victims to scam, that is why it is very important for us to be very careful of new trends because the scams about new trends would have happened before some other people that do not have experience about scam will learn. You can try to always check coinmarketcap or Coingecko, any coin or token not listed there should be considered as scam.

[dimonstration]

I lost 430$ to a metaverse scam project yesterday, the project looks a lot like a professional job to me, everything was so detailed that you can't easily smell any rug pull, here is the project's website https://markmeta.finance/ but unfortunately it's a scam project, you can buy but you can't sell so here are what I find out

1. The price of this token kept surging and surging, there was no retrace or whatsoever which to me is a red flag, the whole chart was a straight line aiming for the moon.

2. Telegram channel was restricted, no one can make comments or send messages, another red flag that I don't get suspicious over

It's too late already but hope someone learn one or two lessons from this

No doubt that this is a rug pull but as what can I see on the poocoin, There's a different buy & sell happening on that token meaning the token smart contract allow selling too. Are you sure are using the right slippage percentage when you are creating sell order on pancakeswap? It seems that the coin is trading properly and the recent dump is typical pump and dump of new shit coin in BSC. Maybe you should try to increase the slippage percentage so that you can sell your tokens and recover some amount of your investment. Typically you should use 15% slippage on this kind f shit tokens. Sorry for your loss.




There should be no red candle on the rising chart if the code for selling is disabled.