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Author Topic: How to smell fraud in projects and detect Ponzi schemes from far as a Newbie  (Read 632 times)
ndutndut
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August 31, 2023, 05:49:34 PM
 #41

also don't trust new people on telegram or other social media. Usually they will contact their victims and offer whether to buy tokens or ask about the tokens being purchased. scammers have many ways now and it continues to grow, so we also need to be careful and update about various kinds of scammer attacks. If you have a senior who understands crypto in more detail, then he can be your mentor
Well, this is absolutely true. Don't easily trust new people, especially if you know them through social media. If we have friends who already understand the world of crypto, it's better to ask them directly, don't think we know everything about crypto investment.

When talking about fraudsters, I remember that in my area, the term investment fraud was known in my area. Usually they use this scheme with "fake trading robots" they promise big profits but in reality the money paid/money earned by investors is actually money from other new investors, so every time there is a new investor the money is used to pay old investors.

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September 02, 2023, 08:09:38 PM
 #42

...Usually they use this scheme with "fake trading robots" they promise big profits but in reality the money paid/money earned by investors is actually money from other new investors, so every time there is a new investor the money is used to pay old investors.

This is an example of a classic ponzi scheme. The main mistake of those who fell for this hook and lost their money is that they considered themselves smarter than others and thought that they would be able to withdraw their money before the pyramid collapsed.

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