SIGNS THAT A CRYPTO PROJECT IS A SCAM

[LogitechMouse]

1. Lack of transparency: A legitimate crypto project should have clear information about its team, its technology, and its roadmap. If a project fails to provide this information, or only offers vague promises, it could be a sign that they are hiding something.

2. Unrealistic promises: If a project promises too-good-to-be-true returns on investment, it is likely a scam. While some crypto projects are innovative and have the potential for significant growth, investors should be wary of promises that seem too exaggerated.

3. Lack of community engagement: A legitimate crypto project will have an active and engaged community. If a project lacks social media activity or community interaction, it could be a red flag.

4. No clear use case: A legitimate crypto project should have a clear use case for its token. If a project cannot articulate a clear purpose for its token, or its use case seems vague or broad, it may be a scam.
Before investing in any crypto project, investors should do their research and look for these red flags. By being vigilant, investors can protect themselves from scams and make informed investment decisions.

 https://www.binance.com/en/feed/post/804194

All of these are very subjective, and can't be applied to all projects.

1. Well, this is only a factor that can be applied to any project. Not transparent = red flag already. Not transparent to their investor meaning they are into something that we as investor don't want to see. I've seen many projects in the past especially when ICO is at it's hype back in 2017 where developers are just sharing some vague information regarding the question of the investor. Anyway, lack of transparency in any project (except for Bitcoin) is already a red flag.

2. How about Bitconnect back in 2017? Or the recent Terra Luna incident where they are offering 20% annual interest on the investor's deposits? They are for me unrealistic promises, and yet there are many investors who fell from it. Yes I agree that unrealistic promises is a red flag for a project especially when it's a new one, but the problem is some of the investors are falling easily to these "unrealistic promises" because they think that it's true. They're too naïve to think that these aren't true.

3. Terra Luna, Centra, FTX. These are just 3 of the project that has a huge community back when it's still on it's top. Terra Luna was I think at the top before the incident happen. My point is having a large community doesn't mean that it will not scam people. There is a huge community behind these 3 projects, and yet they still manage to scam their investors.

4. Meme coins? SHIB? PEPE? Other top 100 coins out there. There are some coins at the top 100 that clearly don't have any use case at all, and yet there are still many investors investing into them. I believe that having a use case would be a good factor, but there are projects out there that don't have any use case. Well, maybe they aren't scamming as of this moment, but maybe in a few months or years.

[coin-investor]

4. No clear use case: A legitimate crypto project should have a clear use case for its token. If a project cannot articulate a clear purpose for its token, or its use case seems vague or broad, it may be a scam.

Every bad project does not have this, they thrive on false marketing like shilling and FOMO, they do not have a use case to market and they promote potential profit.

Projects that do these things usually copy-paste existing projects, they copy what's trending and follow their path.

A use case is everything if they are not bringing something to do the community they are not for the term and they will die a natural death just like all the past shitcoins, we already have thousands of dead coins because they do not have something to back up their presence in the market.

[AmoreJaz]

4. No clear use case: A legitimate crypto project should have a clear use case for its token. If a project cannot articulate a clear purpose for its token, or its use case seems vague or broad, it may be a scam.

Every bad project does not have this, they thrive on false marketing like shilling and FOMO, they do not have a use case to market and they promote potential profit.

Projects that do these things usually copy-paste existing projects, they copy what's trending and follow their path.

A use case is everything if they are not bringing something to do the community they are not for the term and they will die a natural death just like all the past shitcoins, we already have thousands of dead coins because they do not have something to back up their presence in the market.

and if you are long enough in this market, you can easily spot the scam or potential scam project at once. browse their site and its contents and you will have a very good idea what they are trying to do. if they are just to exhaust money from gullible investors or not. most are failing because they have no plans of implementing their objectives. once they got some money, either they will disappear or abandon the project without prior warning.

[wxa7115]

As cryptocurrency continues to gain popularity, more and more people are investing in various crypto projects. Unfortunately, with this rise in interest comes an increase in scams.

 Here are signs that a crypto project may be a scam:

There are even more red flags than that, like fake profiles, lying about their experience on this market, an unlimited amount of coins being created, the developers keeping the majority of the coins for themselves, a plagiarized white paper or website and banning dissenting voices on telegram or any other social media app, and this list does not even scratch the surface of all the tricks scammers use.

Which makes me question why people want to invest in a project like that to begin with.

[el kaka22]

Basically approach everything like it's a scam, and only start to trust them if they prove to be otherwise, there is nothing wrong with that. I mean if you start thinking "this is a scam project" at the very start, that means they will work hard to prove to you they are not, and they will not do it personally to you like you are the only investor, so you just check what they do and what they provide, and that will be fine.

Look at pinksale, between audit, kyc, safu and many other stuff, they end up getting the projects to be a lot bigger and so forth. This means that if they keep working towards that, you get to see what they are working on, and then you can decide if they are actually good or not, and that will help you out a lot.

[Zaichonok]

Basically approach everything like it's a scam, and only start to trust them if they prove to be otherwise, there is nothing wrong with that. I mean if you start thinking "this is a scam project" at the very start, that means they will work hard to prove to you they are not, and they will not do it personally to you like you are the only investor, so you just check what they do and what they provide, and that will be fine.

Look at pinksale, between audit, kyc, safu and many other stuff, they end up getting the projects to be a lot bigger and so forth. This means that if they keep working towards that, you get to see what they are working on, and then you can decide if they are actually good or not, and that will help you out a lot.

When developers create a scam and know that they create a scam they make too attractive project. They must attract a big community of investors to collect a lot of money from them. People always want to earn more and that is why scams always attract people by big profit and promises them to earn more and more money.

[QueenVera]

.
 Here are signs that a crypto project may be a scam:

1. Lack of transparency: A legitimate crypto project should have clear information about its team, its technology, and its roadmap. If a project fails to provide this information, or only offers vague promises, it could be a sign that they are hiding something.

This is the first thing you should be looking at in a project before deciding to invest or not because if you invest into a project that has no transparency, you'll be left in the dark always and there's a high possiblity of the project turning into a scam as investors won't know the moves the developers of the project are taking to protect their investment by selling or keep holding.
Scam project always hide things or use fake credentials as they know if the community gets to know about what they hiding, they'll be exposed and their trick to scam more users will fail. If you noticed a project isn't been transparent you should sell your investment immediately and exit the project as this type of project always end in one way and that's exit scams.
When a project keep promising their investors unrealistic promises it means they have no product to show and only depending on their promises to retain their own investors. Also when a project only talks about the possibility of them having a particular price target in few years, you should sell all your investment because that project is full of bullshit and a scam token.

[Apocollapse]

One of the signs I expected you to mention is plagiarized white paper. Most fake projects have lazy people that just plagiarized white paper.

/jk.

You are getting it wrong. Let me give you an example. Assuming the people behind the project said they will list the coin on an exchange, but should make your findings to know if that is true. If you later make research and the exchange said it is a lie, know that it is a fake project.

Also know that some projects may want to be a good one, but later in one way or the other, it becomes bump and dump or become failed.

If you want to invest, I will advice you to invest in bitcoin.

Very surprising you reply my post in serious, when I already wrote /jk as the sarcasm sign.

A project can hire a high skilled writer to write their white paper, now the scam project is already looks legit.

The team that sad they will list the coin on an exchange are only give promise, when the deadline come and they not yet list their coin, they will give a clarification and say they will try their best bla bla bla.

There's no sign to know the project is scam until the time come.

[avp2306]

One of the signs I expected you to mention is plagiarized white paper. Most fake projects have lazy people that just plagiarized white paper.

/jk.

You are getting it wrong. Let me give you an example. Assuming the people behind the project said they will list the coin on an exchange, but should make your findings to know if that is true. If you later make research and the exchange said it is a lie, know that it is a fake project.

Also know that some projects may want to be a good one, but later in one way or the other, it becomes bump and dump or become failed.

If you want to invest, I will advice you to invest in bitcoin.

Very surprising you reply my post in serious, when I already wrote /jk as the sarcasm sign.

A project can hire a high skilled writer to write their white paper, now the scam project is already looks legit.

The team that sad they will list the coin on an exchange are only give promise, when the deadline come and they not yet list their coin, they will give a clarification and say they will try their best bla bla bla.

There's no sign to know the project is scam until the time come.

Exactly it is since anyone could just pay professionals so that it can give clean works from them and make those look good to the eyes of people who's easily to deceive so lets erase that one as a basis since it can easily fake by them. But I don't agree that there's no sign that a project is scam since there are some of them showing a shady behavior especially by disclosing their identities and legitimacy of their project if they can't even show that then its safe to say we are dealing on a scam project.

[Husires]

These SIGNS measure for you most cases of traditional fraudulent projects, but sometimes scam is smart to the extent that you do not know that the project is scamming until after you lose your money, and here it makes you be more cautious and less willing to invest long-term in altcoins.
Make your investment in these projects an opportunity to achieve greater liquidity in the short term and thus buy more bitcoins or at least be able to withdraw your capital and keep the profits in the form of that currency and therefore even if its value becomes zero, you have withdrawn your capital early.Greed, the belief that the future holds quick profit and long-term investment is what makes you more vulnerable to scam cryptocurrencies.

[zasad@]

As cryptocurrency continues to gain popularity, more and more people are investing in various crypto projects. Unfortunately, with this rise in interest comes an increase in scams.

 Here are signs that a crypto project may be a scam:

1. Lack of transparency: A legitimate crypto project should have clear information about its team, its technology, and its roadmap. If a project fails to provide this information, or only offers vague promises, it could be a sign that they are hiding something.

2. Unrealistic promises: If a project promises too-good-to-be-true returns on investment, it is likely a scam. While some crypto projects are innovative and have the potential for significant growth, investors should be wary of promises that seem too exaggerated.

3. Lack of community engagement: A legitimate crypto project will have an active and engaged community. If a project lacks social media activity or community interaction, it could be a red flag.

4. No clear use case: A legitimate crypto project should have a clear use case for its token. If a project cannot articulate a clear purpose for its token, or its use case seems vague or broad, it may be a scam.
Before investing in any crypto project, investors should do their research and look for these red flags. By being vigilant, investors can protect themselves from scams and make informed investment decisions.

 https://www.binance.com/en/feed/post/804194

Stop teaching other people until you have your own experience.
Everything you wrote can be easily done by scammers.
But scammers cannot find serious well-known investors from well-known crypto funds, because there are very thorough checks.
Fraudsters are unlikely to force famous people in the crypto world to subscribe to their social networks.

[Adreman23]

As cryptocurrency continues to gain popularity, more and more people are investing in various crypto projects. Unfortunately, with this rise in interest comes an increase in scams.

 Here are signs that a crypto project may be a scam:

1. Lack of transparency: A legitimate crypto project should have clear information about its team, its technology, and its roadmap. If a project fails to provide this information, or only offers vague promises, it could be a sign that they are hiding something.

2. Unrealistic promises: If a project promises too-good-to-be-true returns on investment, it is likely a scam. While some crypto projects are innovative and have the potential for significant growth, investors should be wary of promises that seem too exaggerated.

3. Lack of community engagement: A legitimate crypto project will have an active and engaged community. If a project lacks social media activity or community interaction, it could be a red flag.

4. No clear use case: A legitimate crypto project should have a clear use case for its token. If a project cannot articulate a clear purpose for its token, or its use case seems vague or broad, it may be a scam.
Before investing in any crypto project, investors should do their research and look for these red flags. By being vigilant, investors can protect themselves from scams and make informed investment decisions.

 https://www.binance.com/en/feed/post/804194

Your mentioned signs to avoid a scam project are indeed valid. However, there are instances that contradict these principles, such as Bitcoin, where we do not know who Satoshi is, yet it has been successful up to now. Therefore, we cannot immediately deem a project as a scam just because the team is anonymous. Perhaps, it really boils down to luck when choosing crypto projects, but thorough research remains essential since there are undoubtedly some projects that are obvious scams. Additionally, I would like to emphasize the importance of "investing only what you can afford to lose."

[Sovannar Sangha]

Your mentioned signs to avoid a scam project are indeed valid. However, there are instances that contradict these principles, such as Bitcoin, where we do not know who Satoshi is, yet it has been successful up to now. Therefore, we cannot immediately deem a project as a scam just because the team is anonymous. Perhaps, it really boils down to luck when choosing crypto projects, but thorough research remains essential since there are undoubtedly some projects that are obvious scams. Additionally, I would like to emphasize the importance of "investing only what you can afford to lose."

Yes. you are right, anonymous is not a measure and justifies outright scam. Today, there are 1000 new crypto coins that have appeared in the last 5 months. are we going to say average they are scam all. certainly not. There must be potential, of course, and it needs to be looked at carefully and thoroughly for sure.

[abel1337]

Your mentioned signs to avoid a scam project are indeed valid. However, there are instances that contradict these principles, such as Bitcoin, where we do not know who Satoshi is, yet it has been successful up to now. Therefore, we cannot immediately deem a project as a scam just because the team is anonymous. Perhaps, it really boils down to luck when choosing crypto projects, but thorough research remains essential since there are undoubtedly some projects that are obvious scams. Additionally, I would like to emphasize the importance of "investing only what you can afford to lose."

Yes. you are right, anonymous is not a measure and justifies outright scam. Today, there are 1000 new crypto coins that have appeared in the last 5 months. are we going to say average they are scam all. certainly not. There must be potential, of course, and it needs to be looked at carefully and thoroughly for sure.

They are essentially not but they are prone to being scam given that they can run anytime. There are many anonymous defi projects out there that still exist but among the total anonymous projects exist, only a very small percentage of those projects becomes legit. Remember those money making projects back then that has a completely anonymous developers? Where are they now? One factor before I personally trust a project is the project team background. It is one of the first thing that I am checking before investing on a project and having an anonymous project, I can't verify them and that's why I don't invest on that kind of projects unless they are established already and fully functioning.

[TheUltraElite]

Scams are never 100% predictable. Often the company is bankrupt and the owners just scam its investors and leave.

Point is that the above lines and many more are only pointers towards a possible legitimate project but any of these well running projects may not be able to face whats coming in the future and shut down - in the words of the investor it is a scam.

If the above lines match, then defenitely the project should be a no-go. But the doubt arises and the best practice is never to buy at ICOs but give the project a time period of at least 2years to observe and then invest.

[makishart]

Those were just common indicators. The fact that if scammers become even smart from day to the another day. It's not only people who become even smarter but scammers are also trying so hard in fooling people.
You shall aware how scammers were using various modern trick like sending dusting tokens and many more.

I have seen some scam tokens owned by scammers who tried to be transparent, have big community, even this scammer offers realistic promises. I will prefer to avoid non doxxed project. A project that has not backed by a big company must be avoided. That being said that if this gonna be the main problem for ordinady people caused by it will become even harder to know which was scam or non scam tokens in the market. Im thinking about there shall be a new parameter that being used to identify the scammer.

The scammers can tricked us with various trick. You can see that so many meme tokens being launched. Even some tokens have sense idea but these turn to be scam tokens.
It's very hard to differentiate between legit and scam project.

[wheelz1200]

As cryptocurrency continues to gain popularity, more and more people are investing in various crypto projects. Unfortunately, with this rise in interest comes an increase in scams.

 Here are signs that a crypto project may be a scam:

1. Lack of transparency: A legitimate crypto project should have clear information about its team, its technology, and its roadmap. If a project fails to provide this information, or only offers vague promises, it could be a sign that they are hiding something.

2. Unrealistic promises: If a project promises too-good-to-be-true returns on investment, it is likely a scam. While some crypto projects are innovative and have the potential for significant growth, investors should be wary of promises that seem too exaggerated.

3. Lack of community engagement: A legitimate crypto project will have an active and engaged community. If a project lacks social media activity or community interaction, it could be a red flag.

4. No clear use case: A legitimate crypto project should have a clear use case for its token. If a project cannot articulate a clear purpose for its token, or its use case seems vague or broad, it may be a scam.
Before investing in any crypto project, investors should do their research and look for these red flags. By being vigilant, investors can protect themselves from scams and make informed investment decisions.

 https://www.binance.com/en/feed/post/804194

The clear line that it's a scam us a zillion things but here are two indicators to me:

1)  if a coin is named after another coin its never legit. Those scammers are just trying to scrape some of the success from the coin they named theirs after from

2) planned coin or token burns as a feature.  When a mass amount of tokens are planned to be burned with no mechanism other than someone burning them its a scam.why even build those coins in to begin with only to burn them with the perception of lowering supply lol

[bitkanu]

the projects requires you to pay for minting, seriously there are many project like this right now the devs outright just try to get some money out of the minters
and some people being too greedy just blindly pay for the minting fee and ended up getting scammed since the coin or NFT they minted are basically useless.

[shinratensei_]

Basically approach everything like it's a scam, and only start to trust them if they prove to be otherwise, there is nothing wrong with that. I mean if you start thinking "this is a scam project" at the very start, that means they will work hard to prove to you they are not, and they will not do it personally to you like you are the only investor, so you just check what they do and what they provide, and that will be fine.

Look at pinksale, between audit, kyc, safu and many other stuff, they end up getting the projects to be a lot bigger and so forth. This means that if they keep working towards that, you get to see what they are working on, and then you can decide if they are actually good or not, and that will help you out a lot.

When developers create a scam and know that they create a scam they make too attractive project. They must attract a big community of investors to collect a lot of money from them. People always want to earn more and that is why scams always attract people by big profit and promises them to earn more and more money.

this should be basic rule of thumbs of determining scam projects basically too much of an unrealistic promises and big profits in short term just outright means that its a red flag and everyone should avoid such projects in general.
after all the big project that I knew never ever giving such promises yet they become big project anyway. meaning commitment and efforts worth more than just some bullshit.
but nowadays there are many scammers that already knew that, despite not promising anything they still outright scams. like shitcoin project in general that are just outright trying to make pump and dump scheme which usually ended up with the devs dumping their coin to the market until the value become zero.

[wxa7115]

Basically approach everything like it's a scam, and only start to trust them if they prove to be otherwise, there is nothing wrong with that. I mean if you start thinking "this is a scam project" at the very start, that means they will work hard to prove to you they are not, and they will not do it personally to you like you are the only investor, so you just check what they do and what they provide, and that will be fine.

Look at pinksale, between audit, kyc, safu and many other stuff, they end up getting the projects to be a lot bigger and so forth. This means that if they keep working towards that, you get to see what they are working on, and then you can decide if they are actually good or not, and that will help you out a lot.

This may sound as inappropriate to some people out there, however we gain nothing by being nice and we gain a lot for not trusting at all on the developers behind all of those projects.

So anyone thinking about investing in any project needs to assume that the project is a scam, and as soon as they find something wrong with it no matter how small then such project needs to be discarded immediately, now this may seem like a standard that is too high for most projects to pass, but that is the whole point about doing this.