Learn from my mistake, these people aren't playing

[bakasabo]

The rules "DYOR" and "dont take rush decisions" worked again. Hope that you did not spend much on those tokens and your lesson did not turn to be very expensive.

Based on your registration date, you dont seems to be new in crypto. As you say you have thought that this is project is connected with Microsoft and billions of investments, then listing on only two DEXes should have been a first warning indicator for you. The topic is newly listed, it hasnt lost much from its ATH, you still have chances to sell it with minor losses. But again, DYOR, double think before making a decision to do that.

[klidex]

Nothing's surprising here. We can probably generalize and consider that 90% or above of the coins listed on coinmarketcap are nothing but shitcoins. And as shitcoins they could be scam, or just a way for developers to earn from innocent and greedy newbies, or very poor projects, mostly copies of other projects, that have actually no chance of becoming successful. Coinmarketcap is terrible in screening new coins. They simply allow obvious scams to get to their list if the price is right.

But make no mistake, even though most Shitcoins are scam coins, there are also those that you can really rely on to take profits.
Recently listed Shitcoins have very low prices and we can find out and choose Shitcoins that have good progress, That way there is still a large percentage of chances that one day they will experience Hype and the price will soar.
Although indeed if investing or trading in Shitcoin you have to be extra careful because it has a very big risk of losing the money invested.
The ups and downs of Shitcoin prices also tend to be faster and more unpredictable.

I'm not saying you cannot make money from shitcoins. You can earn big from them. Many are making big profits from shitcoins. It is risky of course but you can be lucky to buy at a very cheap price and sell after a quick pump.

You can even make money from scams. Ponzis could be profitable if you came early. It is also possible you have already made a lot of money before a scam decided to suddenly exit or pull the rug.

But these are not advisable investments. The return may be high but the risk is higher.

Yes I can understand from what you have said and indeed Shitcoins can generate a very large amount of profit and faster for the holder if they can position when buying and selling it.
But indeed this is not an investment that is recommended, but if trading by taking profits quickly and consistently then Shitcoin is a coin that is very suitable and can be relied on.
The important point is the same as I said before that investing or trading in Shitcoins has a very large risk.

[CryptoYar]

I think in the excitement of 10x profit you didn't even bother to check whether the token you are buying is real or fake you just bought it just because the logo and name were similar.

Anyway, I hope you have not lost much money in the scam. Take this as a lesson for the future and always do some research before buying any token.

even though most Shitcoins are scam coins, there are also those that you can really rely on to take profits.

Agree, there were so many shit tokens/meme tokens that disappeared in this bear market. Such projects are just money grab nothing else.

[isaac_clarke22]

~

Not surprised about it. The ChatGPT trend kinda gave me the potential slump in my web dev career since I felt like it was going taking over my career but nah. About this scam project, this is like every trend anyway. Remember when COVID was like still rising a lot in the public, and there were devs that created Coronna coin back then. Yeah, that was like another attempt to milk out these trends.

These scammers aren't not just playing but they're also not sleeping to whatever is coming to the trends.

[aioc]

The real OpenAI link is https://openai.com/
The fake OpenAI ERC link is https://www.openaierc.com/

Be careful out there famz, these scammers are not playing

This is one of the serious concerns of the industry, cloning, imitation, and hype, the clone projects usually are the ones that get the hype because they know how to market their fake platforms, legit projects thrive on following a formula of slowly building their community and reputation, I always have doubts on projects that are being hyped, if you look at some of the legit projects and those on the top of the market, they never engage in bounty campaign, they prefer to be based on testimonials and word of the mouth, not hiring influencers to blindly promote their projects.

[gabbie2010]

I found out that the real OpenAI has nothing to do with OpenAI ERC token, in fact it's a scam project trying to take advantage of AI success this year, the LOGO is the same, this was why I fell for the shit token.

I'm sorry about what happened and it's clearly a mistake that you have trusted and invested in them just because of their name. You should have done some research right before you invested. Scammers will always do everything to deceive you and to make their project look as if it's legit and trusted so you better be wise and observant all the time so you will not fall as their victim.

It is an unavoidable mistake by any newbie, those fraudulent developers will fake any project such that it will look real like OpenAI infact it will take extra efforts and thorough research for experienced crypto investors to really reveal that it's a scam, there had been several fake projects similar to that one, however I give credit to the OP for bringing it to the notice of the forum members, atleast this revelation will prevent potential investors to be aware and take caution in investing in it though it's pity the OP was a victim of the scam, had the OP made more enquiry online the issue of falling victim will have been avoided.

[wxa7115]

I found out that the real OpenAI has nothing to do with OpenAI ERC token, in fact it's a scam project trying to take advantage of AI success this year, the LOGO is the same, this was why I fell for the shit token.

I'm sorry about what happened and it's clearly a mistake that you have trusted and invested in them just because of their name. You should have done some research right before you invested. Scammers will always do everything to deceive you and to make their project look as if it's legit and trusted so you better be wise and observant all the time so you will not fall as their victim.

It is an unavoidable mistake by any newbie, those fraudulent developers will fake any project such that it will look real like OpenAI infact it will take extra efforts and thorough research for experienced crypto investors to really reveal that it's a scam, there had been several fake projects similar to that one, however I give credit to the OP for bringing it to the notice of the forum members, atleast this revelation will prevent potential investors to be aware and take caution in investing in it though it's pity the OP was a victim of the scam, had the OP made more enquiry online the issue of falling victim will have been avoided.

It is because of this that it is important that before someone invests in any coin people ask questions about their favorite project in as many different channels as possible, since in this way you will have many more eyes focused on that project and if anyone finds anything wrong with it they will let you know.

This happens a lot in this forum, in which a newbie is excited about a particular coin and they ask the opinion of the forum members only for them to find out the project is a scam, and while it is impossible to save every single investor out there using this method, enough newbies avoid losing their money by doing something as simple as making a post.

[iv4n]

...
The fake OpenAI ERC link is https://www.openaierc.com/

Be careful out there famz, these scammers are not playing

Well, to be honest, this is an obvious scam... it's visible after a few seconds on the site. Cartoon images? Really? And I am not sure what to say about the entire site, it's so simple and small, practically without all the important stuff... just pictures and promises! And in the end, look at the tokens listings... you can probably list any shit on that ones by yourself in a few hours.

Scammers are not playing, and sometimes they can be very sneaky... but these are some basic things, check the site and look around before you make any investments!

[Aliev]

Well, to be honest, this is an obvious scam...

A scam is a trick used to cheat someone out of money. At the same time, a scam in crypto investment is when the team behind a token is intended to stop the project and not try to grow the token price as soon as they raise a certain amount of money. And looking at their current trading graphs, they are clearly still working on the project.

Yes, their idea is shit, and they intentionally tried to mislead people to some degree into thinking they are the official token of OpenAI. But they never tried to "scam" people. What they did was they took advantage of a trend. In fact, their token price has doubled since they launched their liquid pool, which is quite surprising.

I'm not trying to justify them. I'm trying to say that they're not the worst token people have created in recent years.

Cartoon images? Really?

Those are AI generated images, and they perfectly fit their concept.

I'd point out their token allocation block as a clear indication of the "wait a minute" effect or their extremely poor documentation.

[iv4n]

Well, to be honest, this is an obvious scam...

A scam is a trick used to cheat someone out of money. At the same time, a scam in crypto investment is when the team behind a token is intended to stop the project and not try to grow the token price as soon as they raise a certain amount of money. And looking at their current trading graphs, they are clearly still working on the project.

It's easy to manipulate with trading graphs... if you have some funds to spare on that.

Yes, their idea is shit, and they intentionally tried to mislead people to some degree into thinking they are the official token of OpenAI. But they never tried to "scam" people. What they did was they took advantage of a trend. In fact, their token price has doubled since they launched their liquid pool, which is quite surprising.

I'm not trying to justify them. I'm trying to say that they're not the worst token people have created in recent years.

You are a bit contradictory. Their idea is shit, they are taking advantage of the current hype, but they are not trying to scam people with all that... yea, they are building the real project! They took a logo from some other project and their idea for what purposes?

Cartoon images? Really?

Those are AI generated images, and they perfectly fit their concept.

I'd point out their token allocation block as a clear indication of the "wait a minute" effect or their extremely poor documentation.

OK... I guess there's a big difference between Cartoon and AI-generated images. Either way, I check the site and I didn't like what I saw... let's talk in 6 months about this project, in that time we will see how far they got with the name/logo from another project, and AI-generated images instead of real developers. I don't even wish to check their token allocation block... that amount can just disappear at any moment.

In the end, it's just my opinion... Maybe I am wrong about this, but as I said, we will see in some time.

[virasisog]

...
The fake OpenAI ERC link is https://www.openaierc.com/

Be careful out there famz, these scammers are not playing

Well, to be honest, this is an obvious scam... it's visible after a few seconds on the site. Cartoon images? Really? And I am not sure what to say about the entire site, it's so simple and small, practically without all the important stuff... just pictures and promises! And in the end, look at the tokens listings... you can probably list any shit on that ones by yourself in a few hours.

Scammers are not playing, and sometimes they can be very sneaky... but these are some basic things, check the site and look around before you make any investments!

The first time I check the site, I already find it suspicious. Next time, be skeptical and always keep in mind that projects that have too many promises and too good to be true offers are possible scams. Always check on the site, reviews, as well as the team behind each project. Make sure that it is being handled by trusted people. Always do your research and do not rely on what you see on their site.
Scammers nowadays are getting smarter and they will do everything just to catch your attention so you will easily fall for their trap so always be careful.

[dunfida]

...
The fake OpenAI ERC link is https://www.openaierc.com/

Be careful out there famz, these scammers are not playing

Well, to be honest, this is an obvious scam... it's visible after a few seconds on the site. Cartoon images? Really? And I am not sure what to say about the entire site, it's so simple and small, practically without all the important stuff... just pictures and promises! And in the end, look at the tokens listings... you can probably list any shit on that ones by yourself in a few hours.

Scammers are not playing, and sometimes they can be very sneaky... but these are some basic things, check the site and look around before you make any investments!

The first time I check the site, I already find it suspicious. Next time, be skeptical and always keep in mind that projects that have too many promises and too good to be true offers are possible scams. Always check on the site, reviews, as well as the team behind each project. Make sure that it is being handled by trusted people. Always do your research and do not rely on what you see on their site.
Scammers nowadays are getting smarter and they will do everything just to catch your attention so you will easily fall for their trap so always be careful.

Scammers do continue to evolved when it comes to finding up ways on how they would be scamming out people and since people do become wiser each day then it wont really be surprising that they would be trying out

their best to be always one step ahead which it would really be that normal.There would be no people on getting scammed or been fraud up if they are really just that careful and making up that in depth research before they would be dealing off with things specially this do talk about investment.This isnt something that you could just play around and get confident believing directly on what you are seeing with your own eyes.
This is why you should really be that careful.

[Yamifoud]

We all have to know that scammers will stop and can find another way to trick people no matter what happens. And if we are too careless enough and not doing dip research in investing in new projects, probably we fall into them. Even the situation where we already know their tactics but sometimes we got mistakes because of their promises. Honestly, it was really hard to control your greed and emotions if someone offer you big money to earn. This scenario has repeatedly happened but from what I can see, many are still not able to escape from getting tempted and losing their money.

[evichi]

Thanks for being courageous to inform us despite your mistake. This information reminds us that me must be vigilant at all times especially when we get to the point of parting with our hard earned money in the crypto space or any online platform. It is very important that we spend extra time to research before investing in any online/crypto platform. Some exchanges like Binance, for example reminds us to confirm that we are actually visiting the correct site, a way of re-awakening us that there is a possibility of visiting the wrong website and as such we should confirm that the website is correct. Also there are many fake telegram groups bearing the name of the original group, so it is left for us to check if we are in the right group.  Being in the crypto space in recent times calls for vigilance.