Crypto Scams now the second largest in the world

[Slow death]

Crypto currency Scammers are increasing every day and night.

cryptocurrency market scam cases are reducing every year, i don't know about this research but what i see is a very significant reduction every year, in 2016 to 2019 people easily fall for scam ICO projects, then also easily people invested in scam altcoins and used scam exchanges, but today people are more selective in projects and exchanges because there is already a lot of information that they cannot use exchange scam and that they should be careful with scam projects

[Vaculin]

This is the reason why you need to avoid shitcoins and pick only Bitcoin if you want to start to invest on crypto space. After 13 years created, Bitcoin never ever scam anyone until now. If there's an article discuss about Bitcoin scams, pretty sure it's either exchange, investment company, recoverable funds etc are the scammer, not Bitcoin.

This is not surprising as the altcoin's market is usually the ground for all scammers, but not with bitcoin. And mostly, if you are still a newbie in the market, you always find those shitcoins more affordable to invest compared to bitcoin so you end up investing in the wrong coins and then lose your capital. Crypto scams usually happen to those who lack knowledge in crypto and only here to invest for quick profits. But if you stick with bitcoin, though its expensive, its rewards always pays off the price.

[AmoreJaz]

This is the reason why you need to avoid shitcoins and pick only Bitcoin if you want to start to invest on crypto space. After 13 years created, Bitcoin never ever scam anyone until now. If there's an article discuss about Bitcoin scams, pretty sure it's either exchange, investment company, recoverable funds etc are the scammer, not Bitcoin.

This is not surprising as the altcoin's market is usually the ground for all scammers, but not with bitcoin. And mostly, if you are still a newbie in the market, you always find those shitcoins more affordable to invest compared to bitcoin so you end up investing in the wrong coins and then lose your capital. Crypto scams usually happen to those who lack knowledge in crypto and only here to invest for quick profits. But if you stick with bitcoin, though its expensive, its rewards always pays off the price.

as these scammers can deploy their project anonymously, they do have the chance to introduce a new project again and again with the aim of screwing these naive buyers. but for noncrypto users, they need to educate themselves that it is not bitcoin per se is the scam here. because a lot still have the notion that btc is a scam owed to these crappy alt projects. crypto market is the breeding ground of these scammers because they can move around without anybody chasing after them because they are anonymous!

[wxa7115]

Crypto currency Scammers are increasing every day and night. They are using different method and tactics to lure their victims to fall. It is only those who have understand their methods and ways to lure people can not fall again. These Scammers can even spend money to scam their victims.

Just like one of my friends shows me a WhatsApp group and when I saw the group prescription, I told him that it is a scam. The prescription is " Crypto currency Trading Investment". That is to say, if you are interested in investment on crypto currency, you can give them the money then they will use the money and invest it on behalf of you. And I said, if I want to invest or trade with crypto currency (Bitcoin), I will trade by myself.

Let us hope that your friend listened to your advice, however I am always surprised by the lack of common sense of most people, one of the most famous slogans of this market is that bitcoin allows you to be your own bank, and while that comes with a set of benefits and freedoms it also brings new responsibilities.

This means that we are directly responsible for anything that happens to our coins, so if we happen to make a good investment and we earn money then it was due to our own merits, but if we happen to lose that money then it is our fault regardless of how it happened, this means that even if scammers are directly responsible for the loss of coins that a great deal of people experiment in this market, at the end they are at fault too as they are the ones that decided to give their money to the scammers in the first place.

[batang_bitcoin]

Actually, the method is always the same. These projects that will rug pull does have the same style in common, they'll hype the project to get more investors and to make them excited. And then eventually when they're at their peak, they'll surprise their investors that some problems have occurred and their funds got compromised but they'll make sure that things are going to be normal and back again until they drop close to zero and they eventually die as their volume can't go up anymore which is the confirmation that they've finally rug pulled, exited and left the project.

They cycle does always continue or to be having this very common way which is something that people do realize or open their eyes because scams wont exist if theres no one would be feeding or falling from it.

As for us experienced users who do really keep on advising and taking out some precautions about these scammy projects and other things but still there are people who do fall for easy cheap tricks
due to their greed.
We know  that money involved or circling around this market is really huge which do talks about billions which means it is a honeypot for these scammers to take advantage.

Too bad that there will always be unknown to the process and method of these scammers and they're the target of these scams. That's why these scammers always have the opportunity to fool people specially the newer ones because they don't know how to know that they've been scammed already.
Greed is really a big part of it so it plays the role for both, the scammers and the victims.

[Questat]

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Let us hope that your friend listened to your advice, however I am always surprised by the lack of common sense of most people, one of the most famous slogans of this market is that bitcoin allows you to be your own bank, and while that comes with a set of benefits and freedoms it also brings new responsibilities.

This means that we are directly responsible for anything that happens to our coins, so if we happen to make a good investment and we earn money then it was due to our own merits, but if we happen to lose that money then it is our fault regardless of how it happened, this means that even if scammers are directly responsible for the loss of coins that a great deal of people experiment in this market, at the end they are at fault too as they are the ones that decided to give their money to the scammers in the first place.

Yes, scammers will never win if we don't let them win also. They just survive and continue their doings because we also give them the chance to do it. Definitely, we don't have to blame others even these scammers because we make decisions individually, unfortunately, some people did stupid decision due to their greediness. It is our responsibility to take care of our funds and to be aware and knowledgeable about these scams strick as this helps us not to fall in them. We have to be more vigilant and take actions responsibly.

[hashrateproducts]

Yes, scammers will never win if we don't let them win also. They just survive and continue their doings because we also give them the chance to do it. Definitely, we don't have to blame others even these scammers because we make decisions individually, unfortunately, some people did stupid decision due to their greediness. It is our responsibility to take care of our funds and to be aware and knowledgeable about these scams strick as this helps us not to fall in them. We have to be more vigilant and take actions responsibly.

Scammers are increasing by the day. Most of us got scammed either by our greediness or carelessness. We can control the rate of scams if we take it seriously. Scamming happens daily. People are also complaining daily. I doubt if there would be any possible solution to stop scams permanently. The only thing to do is to prevent scams, Letting people know about the latest scams strategy in town. Investors, traders, gamblers has lost their funds to scammers countless number of times. Scammers would trick you into paying some funds as gas fees or selling coins Offline which they do not have. We have to be careful not to fall into the hands of these scammers.

[19Nov16]

When crypto becomes popular and it becomes easier to create projects making scammers make crypto projects the easiest target to raise money, there have been many big projects that have finally proven to be scams and they have run away hundreds of millions of dollars, and this makes us have to be vigilant to choose a good project and it is safer to invest in coins that have a strong reputation in the market.

[LogitechMouse]

Crypto currency Scammers are increasing every day and night.

cryptocurrency market scam cases are reducing every year, i don't know about this research but what i see is a very significant reduction every year, in 2016 to 2019 people easily fall for scam ICO projects, then also easily people invested in scam altcoins and used scam exchanges, but today people are more selective in projects and exchanges because there is already a lot of information that they cannot use exchange scam and that they should be careful with scam projects

People are becoming more intelligent already that is why scam cases are reducing every year.
Still I don't know how but I believe that investors are becoming more intelligent than they are a few years ago where scams are everywhere from ICO to DeFi to IEO's etc.

Investors know already which are scam and which are not though there are still some who are still falling into some common ways to scam them, they are learning from it thus we see scamming cases going down every year which is a good thing . Still we need to inform those newbie investors and let them know which projects are scams and which are not.

[jhonjhon]

In the crypto realm, there is a lot of fraud. It is critical to conduct some research, particularly for people who are new to investing or trading in cryptocurrencies. You should never put your money into a fishy website, and you should always conduct your research on any coin before investing. By clicking on this link, you will have an understanding of how cryptocurrency trading works without being a victim of a fraud. It will also display a list of red flags that will assist you in keeping your money safe.
https://medium.com/cryptocurrency-secrets-for-beginners/list-of-cryptocurrencies-scams-to-avoid-before-investing-a0cd91e7bb02

[Cling18]

Scammers are also using the crypto industry as a platform to earn for their own benefit through creating shitcoins that turn into rug pull later on. To be honest, even crypto professionals couldn't escape this before and most of us have invested in this type of project but for wise investors, this serves as a lesson so we'll know what type of project should we avoid in the future.

[e_abrams]

The crypto industry does have a significant problem with scams. According to authorities, in particular the various EU regulators, the biggest problems stem from meme coins as well as various celebrity influencers that hawk those coins on social media and manipulate naive people to invest in them. They are right about that, there have been multiple incidents where relatively famous people - even very famous people - were implicated in that sort of activity. I think even Kim Kardashian is being sued over hawking some some crypto pump and dump scheme.

[Cookdata]

The ideal conditions of freedoms for the user will always extent its freedom to a bad actor. When you are free from the control of a centralized authority, you are not only free from its interruption but also from its mercy.

There are large number of money(fiats) and gold that has been stolen as a result of bank robberies, the money today are not where to be found and to say that the robbery made it to Guinness book of records but they don't talk about them. There are gold that has been stolen in the past in many countries but they don't allow media talk about them because you can't trace gold, it can be melt and reform into another shape but you can't do that to bitcoin, so rest when they talk a little bad about bitcoin.
Bitcoin has it's downside but let be fair, it's there everywhere, bitcoin scams has reduced over the years if you compare it to those days.

[Franctoshi]

The increasing number of cryptocurrency scams is becoming terrifying and if nothing is done about it , could scare away future investors and also be a worrisome thing for already existing investors. Going further these could cause government to place a ban on the entire industry to protect it citizenry from getting scammed and loose their hard earned money. A system should be in place to tighten or checkmate the activities of these scam project and for investors to be able to detect any scam projects.

[endut15]

True, this happens a lot in bounties. I'm a campaign participant, I've seen this kind of thing happen to me often. The loss is not comparable to the investors who have spent a lot of money to invest in it, but we as humans also have to lose time to do something that is run by fraud. Everyone hopes crypto should be more secure for things like this. The risk of market failure is acceptable, but if it is a scam, everyone will find it hard to trust again.

[eaLiTy]

~
People are becoming more intelligent already that is why scam cases are reducing every year.
Still I don't know how but I believe that investors are becoming more intelligent than they are a few years ago where scams are everywhere from ICO to DeFi to IEO's etc.

Yet you see many scams in the space, including impersonators and generally the new investors will fall for these scams.

Investors know already which are scam and which are not though there are still some who are still falling into some common ways to scam them, they are learning from it thus we see scamming cases going down every year which is a good thing . Still we need to inform those newbie investors and let them know which projects are scams and which are not.

There are many who wants to take a chance thinking that it would make them a fortune and that is what the scammers are trying to take advantage. If you look at some of the projects that rallied which includes a dozen meme coins where the developers are unknown and if you take this general step of identifying the team then you will not invest in those projects and yet they are some of the most rallied projects.

Even projects with a well written vision, they will not succeed and these things are a normal scenario in the cryptocurrency space and when you invest in an unregulated market where scams are not monitored, you will see scammers having their merry time and that includes projects with a great paper but fail to convert them into reality.

[Lordhermes]

Scammers are increasing by the day. Most people got scammed through links for airdrops or by their carelessness. I know of a  guy that got scammed because he forgot to disconnect his trust wallet from poocoin when buying a coin. High intellectual scammers invade his wallet and empty it. There are so many tricks internet fraudsters are using now to scammed people, and they always target those that their portfolio has numerous zeros. They might ask you your 12 private phrases, which you might mistakenly give it to them. This mistakes is mostly done by the newbies who are eager to learn and boost their portfolio

[Quidat]

Scammers are increasing by the day. Most people got scammed through links for airdrops or by their carelessness. I know of a  guy that got scammed because he forgot to disconnect his trust wallet from poocoin when buying a coin. High intellectual scammers invade his wallet and empty it. There are so many tricks internet fraudsters are using now to scammed people, and they always target those that their portfolio has numerous zeros. They might ask you your 12 private phrases, which you might mistakenly give it to them. This mistakes is mostly done by the newbies who are eager to learn and boost their portfolio

Not only scams but also to those hacking incidents which makes even more risky for us to deal with and being too careless with our security.Just like for this example.
https://fortune.com/2022/04/01/axie-infinity-hack-crypto-heist-ronin-blockchain/#:~:text=Then%20in%20late%20March%2C%20Axie,treat%20gameplay%20like%20a%20job.

How the NFT-based game Axie Infinity suffered one of the largest crypto heists in history

Its the biggest in crypto history so its not surprising if there would be other in the future.

[Joshapat]

The rapid development of crypto makes anyone interested in investing in crypto, this is what makes scammers target crypto as a target for scams, they think that with crypto they can multiply money quickly, and nowadays more and more projects are being used for scam purposes and we should always be vigilant and not be too easy to put money in projects that are not clear.

[jokers10]

cryptocurrency market scam cases are reducing every year, i don't know about this research but what i see is a very significant reduction every year, in 2016 to 2019 people easily fall for scam ICO projects, then also easily people invested in scam altcoins and used scam exchanges, but today people are more selective in projects and exchanges because there is already a lot of information that they cannot use exchange scam and that they should be careful with scam projects

Statistics says just the opposite, number of scams is multiplying year by year. And it has sense as crypto market is still growing significantly: you can think that comparatively there are less frauds but in absolute terms there are much more different scam projects including different local projects which are not so known outside of local communities. Moreover scammers still think that they will not be punished for crypto frauds and suppose it would be safe for them (it is far from truth but their confidence makes them scam harder).