Be careful were you put your hard earn money

[Kara3]

During the 2017-2018 bull run, crypto experience fraud from bitconnect, onecoin etc who disappear with billions of peoples dollars.
At bull run 2020-21we also experience fraud who will subsequently take advantage of people gullibility to ruin them, Luna, 3AC, Ftx, etc.

you should know that no matter the punishment for the person behind these scandals, there will always be bad actors in the crypto ecosystem at the next bull run .
We need to be sure where we put our money, no matter how solid the project or exchange looks like, if the founders mismanage people fund,  we will be burned if we don't take the necessary measures, imagine those who believe Do kwon's Luna.

When they finish talking advantage of Bitcoin and altcoin all time high, they converted everything to ust to be able to earn free money 20%  a year on anchor protocol.
And selll their ust at a loss because they where skeptical of depeg at the beginning and believe too much in Do kwon.
After having sold there ust's they took the remaining money to put in Ftx to loose in November because they where quite gullible.

It's just like profit from a bull run and be ruin by scammer or irresponsible player in the crypto ecosystem. Don't be too believing of anyone in the crypto ecosystem, especially with your hard earned money, tred with caution.

[1714797822]

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[Tuturtinular]

~snip~

Crime and fraud will always be everywhere, they are just shadows in the darkness. You wrote about many of the tragedies that occurred in the crypto journey, but if you wrote about crime and fraud in other ecosystems (like FIAT), you might need to write more than 1000 words.

There is always a risk in every action, and crypto is one that has a high risk. Honestly, for now I prefer bitcoin, crypto in general has thousands of altcoins in it and most of the losers are those who invested in alts. So, from now on buy bitcoin, even though bitcoin also has risks, bitcoin is still the safest. AFAIK

[mk4]

These types of grifts exist even in bear markets. It's just the fact that these ones gained a lot more traction because the markets was quite bullish in general, so people were generally getting too cocky.

As for FTX, boy was that surprising for me. Fortunately I didn't have any balance on the platform.

[sheenshane]

Fraudsters always waiting for their next victim and they are always there when there's a trend.
As long as you know this, "Not your key, not your coin".  You are totally safe from them, especially if you don't store your assets in the long term in any centralized platform that you don't have control over your fund.

You can use centralized exchange when you need to convert your crypto to fiat, but not keep it there in the long term or for storing value.
Most of all, stay away from shitcoins like memecoin.

[Smartvirus]

you should know that no matter the punishment for the person behind these scandals, there will always be bad actors in the crypto ecosystem at the next bull run .
We need to be sure where we put our money, no matter how solid the project or exchange looks like, if the founders mismanage people fund,  we will be burned if we don't take the necessary measures, imagine those who believe Do kwon's Luna.

The one thing we can never be is having that assurance of safety when you’re not the sole control of where you put your money or bitcoins. It’s almost impossible for one to benefit all there is in the cryptospace and not having to take some risk with the centralized systems that exists within its space.

These systems gives you the leverage to have access to certain services and in turn, they control and manage your funds in ways that they hope to profit from your hodlings with them but, you can’t ultimately be right at all times with bitcoin or cryptocurrencies.
There are rainy days to every investment and means to profiting from funds in a custodial system which could be mismanaged and in turn count in loses.
It stresses the need to be more non custodial but, we are sure to have some new victims in due time.

[crwth]

I think your post is discouraging people from ever investing in any project. It's really hard to tell if a project is going to scam you after a few years or not. It's still better to know that there are certain risks involved when investing and with that in mind, it shouldn't be a problem to invest because you understood that there are risks.

I believe it's better to have that management rather than doing nothing at all.

[Pingrapole]

Fraud is permanent process Fraud will exist and fraud will be more when people are more indifferent and more indifferent when the market system is more and people are more greedy.If you want to get quick capital then you will fall victim to this scam and if you want to get long term capital then you invest in Bitcoin then you will have control over your wealth.Invest money by choosing specific bitcoin niches, or you will not be able to give your security Fraud cycle will Be careful not to invest too enthusiastically how much you will be victimized again and again.The scams will come one after the other in a new way and each time you will think they are right but keep doing it like this and wait and see.Invest in Bitcoin I believe you will not be scammed and if we have many alternatives beware of investing in them now.There is a risk in everything in the world but if there is a risk there room for trust so bitcoin perfect fraud is eternal so be aware before trading.

[bhadz]

That's like becoming the cycle as well on the market every bull run that we experience. There goes the halving, the bull run, and then comes the cause of the dump that will turn the entire market into another bear market. But the difference this is that it's unlikely felt because it seems to be not that low anymore compared to the past bear markets. Apart from that, there will always be these trends that will catch the attention of many investors and then think that it's going to last forever and they forget to take their profits until the crash comes.

It's just like profit from a bull run and be ruin by scammer or irresponsible player in the crypto ecosystem. Don't be too believing of anyone in the crypto ecosystem, especially with your hard earned money, tred with caution.

And that's why believe only in Bitcoin and if you're into altcoins, you're grown up enough to look at what are those legitimate and not and those that have been built through hype. There are many of them in the altcoins and not just all about platforms that turns into a scam.

[Accardo]

These scam periods happened so fast, looking back to what the cryptocurrency market has suffered from CEX. I'll admit that saving money on centralized exchange is very risky. But, it's obvious that people easily forget about these scams, especially the newbies who was not affected by the previous ones. The cryptocurrency bull run is known for being attractive to fresh investors. These people do no research about what they're holding or investing into. That's the cause of having multiple victims, whenever centralize platforms shut down or go bankrupt. The market gains enormous amount of investors, but lose them to scam projects. And they'll never come to invest into bitcoin anymore. It's the disadvantage of lacking research ability as an investor.  The market, to retain existing investors, also need to remind  them, about such mistakes. Just like Op did, with this thread. For most, it's hard to resist some scam during the bear or bull market. Aside that, being in charge of their money and holding private keys is a crucial reminder, that shouldn't be on snooze. Else, the market will suffer from lack of investors, unlike in the past.

Whooping amounts of money ranging at billions of dollars lost to hackers, is affecting negatively the speed of bitcoin's growth. Which occurrence, is powered by the carelessness of bitcoin community members; investors, traders etc. Those exchanges are vulnerable to hackers, added to the fact that their owners are greedy. Possessing hundreds of millions in dollars, is tempting. Hence, it's our duty as bitcoin users and investors, not to put the temptation of messing with our funds on the CEOs of different crypto platforms. Since it's strenuous to manage people, only a few follow due instructions. Those that like reading bitcoin docs have high chances of not becoming victims. The rest that utilize bitcoin their own way, without care and control, will have themselves to blame.

[hd49728]

During the 2017-2018 bull run, crypto experience fraud from bitconnect, onecoin etc who disappear with billions of peoples dollars.
At bull run 2020-21we also experience fraud who will subsequently take advantage of people gullibility to ruin them, Luna, 3AC, Ftx, etc.

You are only here in 2023 so I assume you were not in the market in 2017 or 2018 and if possible, you were only here in 2020 and 2021 bull run then 2022 and 2023 bear market.

You can read articles, news, price charts and know about past histories like Bitconnect, Onecoin but doing so is not enough to completely understand and feel what happened with those scams. Now you can see Bitcoin price chart and feel it is smoothly and easily to hold it from 2009 to 2018 or 2021 and get very massive profit, ROI but along the way, many fud, challenges you can not imagine. You only can feel about it if you actually were in the market in those times.

[reagansimms]

You remind members on the forum to always be careful when depositing the hard-earned money they have collected so far little by little. Of course, there have been many tragedies that have resulted in crypto perpetrators' money being lost as a result of several centralized exchanges being hacked due to crimes that occurred in the crypto industry. You must choose the safest storage place where you can control the private key, as discussed above, storing money on centralized exchanges is not recommended because it is very vulnerable to hacking.

Choice always offers the best option, you can choose a safe storage place to protect your assets. Fraud is also very common in the crypto industry which has claimed many victims, you also need to choose coins that have been tested and have strong fundamentals for short and long term investing.

[Sexylizzy2813]

I don't think anywhere is safe for us as it stands, because scammers and hackers are just on the loose. They don't care how long it took you to save what you have up till this level, all they know is a mistake from you gives them an opportunity to achieve their goal.
I believe that in as much as we find a safer place to store all we have worked for from the crypto market they (scammers, especially hackers) are still ready to dig deep to get it free for them to get hold of our assets. Our sadness is their happiness, that's when they get hold of either our key phrase or something.
I don't think the crypto space to 100% safe and is really hard to find a better place to secure assets, to me the best is just to be on the look out.

[Bobrox]

Important needed how to be careful when investing our money, faced many kinds of scammed from Bitcoinnect until dump or crash from Luna coins network give us much experienced how to manage well with our investment assets in the future. Last year have been popular with coins project pre sale and allocated for user reward in vesting, there are not existing for long term and many my friend got scam with investment around $6k until $20k but price after vesting drop drastically and not worth yet. What the failure happening last several years should be lesson for us to be better in investment management controlling, don't easy trust with new coins and better put on potential coins for investing although not high profit return but less risk exactly investing in Bitcoin or top altcoin such as BNB and Ethreuem.
Don't make the same mistake from staking coins until joining with pre sale have vesting model with how many time their coins got scam.

[Taskford]

During the 2017-2018 bull run, crypto experience fraud from bitconnect, onecoin etc who disappear with billions of peoples dollars.
At bull run 2020-21we also experience fraud who will subsequently take advantage of people gullibility to ruin them, Luna, 3AC, Ftx, etc.

You are only here in 2023 so I assume you were not in the market in 2017 or 2018 and if possible, you were only here in 2020 and 2021 bull run then 2022 and 2023 bear market.

You can read articles, news, price charts and know about past histories like Bitconnect, Onecoin but doing so is not enough to completely understand and feel what happened with those scams. Now you can see Bitcoin price chart and feel it is smoothly and easily to hold it from 2009 to 2018 or 2021 and get very massive profit, ROI but along the way, many fud, challenges you can not imagine. You only can feel about it if you actually were in the market in those times.

People here especially the old members of this forum for sure experience the worst so most of the time we are very careful on where we put our money since to many tactics created by scammers has been exposed and they will never succeed for scamming anyone if they do some nasty attempt here.
Scamming happened on the mentioned program is really big and to many people learn a lot of lesson for believing that there's good profit they can receive for trusting those ponzi platforms. If we also talk about the past history of good and bad events happened on the market for sure we cannot trick anyone here since they are knowledgeable on what are good to prepare and what other negatives to avoid.

[Odohu]

Are you speaking from experience or narrating that of another person? If the later is the case, a link to article or material that can enable us get more details will be great.

During the 2017-2018 bull run, crypto experience fraud from bitconnect, onecoin etc who disappear with billions of peoples dollars.
At bull run 2020-21we also experience fraud who will subsequently take advantage of people gullibility to ruin them, Luna, 3AC, Ftx, etc.

you should know that no matter the punishment for the person behind these scandals, there will always be bad actors in the crypto ecosystem at the next bull run .
We need to be sure where we put our money, no matter how solid the project or exchange looks like, if the founders mismanage people fund,  we will be burned if we don't take the necessary measures, imagine those who believe Do kwon's Luna.

When they finish talking advantage of Bitcoin and altcoin all time high, they converted everything to ust to be able to earn free money 20%  a year on anchor protocol.
And selll their ust at a loss because they where skeptical of depeg at the beginning and believe too much in Do kwon.
After having sold there ust's they took the remaining money to put in Ftx to loose in November because they where quite gullible.

It's just like profit from a bull run and be ruin by scammer or irresponsible player in the crypto ecosystem. Don't be too believing of anyone in the crypto ecosystem, especially with your hard earned money, tred with caution.

Obviously, you are not laying much emphasis on the right advice people need.  First, it has been abundantly stated in several threads that centralized exchanges should never be used for storing funds as they are prone to hacks and other sharp practices.

Secondly, it does not require so much digging to understand that most of the cryptocurrencies they advertise on daily basis are scams... so it is usually safer to consider investing in Bitcoin only.

Therefore, the right advice should be to store funds in wallets you have the private keys only and also keep all your assets or a good proportion of them in Bitcoin.

[Antotena]

It's just like profit from a bull run and be ruin by scammer or irresponsible player in the crypto ecosystem. Don't be too believing of anyone in the crypto ecosystem, especially with your hard earned money, tred with caution.

Avoiding this is very simple, the solution is to look at the key project that are solid in foundation and are already been listed but sorry, people will not look at that, they prefer something that can give them 20x instead of guarantee 3x, literally we all want to become millionaire over night chasing the wrong projects. Scammers knows that people are in for big money here and it's very easy for them to coordinate all these type of scam.

Another bull run is coming, I hope many has learn from the last bull run, meme coins are the types I hate the most.

[Wapfika]

During the 2017-2018 bull run, crypto experience fraud from bitconnect, onecoin etc who disappear with billions of peoples dollars.
At bull run 2020-21we also experience fraud who will subsequently take advantage of people gullibility to ruin them, Luna, 3AC, Ftx, etc.

Bitconnect and other coin during 2017-2018 bullrun are purely scam. There’s a warning sign all over this project which dumb user ignored. While FTX, Luna and other exit scam project took us by surprise since they offer legitimate service with good liquidity until they pull off the exit scam.

But all this exit scam now and in the past can be avoided if we are sensitive and very thorough on every news regarding the project we are investing because all of them has a window of opportunity to exit early with less lose since most of them pump hard from its original value before they become scam which you will still be in profit if you believe on the early warnings about this projects.

[Faisal2202]

You are damn right, we should not put our money in platforms that are playing around and risking themselves along with the assets of the customers. Actually, the problem is, that most of the people are not some financial experts who know something is cooking up. They simply trust the centralized or decentralized exchange because it has big trading volumes which in their eyes indicates that more people are trading here.

So, they take it as a good one and also do not track the liquidity and proof of reserves of the exchanges. Because they don't have to, it is not their job to do, it is the job of those who have been hired by these aforementioned exchanges. But they did not do it right and not inform the customers and tried to play a risky game.

Well, we should not put our whole hard-earned money on a single exchange either its centralized or decentralized. We should follow the saying --> "Not your keys, then Not your coins".

[Outhue]

Few people are able to figure out that Bitconect is scam, I can't remember how many posts I've read about Bitconnect been scam and it eventually turn into a scam, many people are too lazy when it comes to doing their own research that's why they are caught in this scam.

The same thing was going around with Luna, even on YouTube, some people are saying it will end badly for Luna, some smart fellas took out their profits and those who don't believe get wrecked in the end, but I will like to say something about this alts.

If you invested $50 in Bitconnect and Onecoin and they turned out to be scam, how will this ruin a life when it's two out of fifteen altcoins you have? It's a gamble isn't it? Because this us the way I view all altcoins, not all your picks will be a successful one, some are going to meet a cruel end.

Also, even before Bitconnect turned scam, many people are lucky to make a profit out of them, the same thing with Luna, it was one of the most profitable projects of that year, the problem was that many didn't want to take their profit, they got married to their bags.

[AprilioMP]

Reminder don't save money online is very broad and applies to everyone. This reminder can be valid forever without an expiration date. Implementation depends on those who have money and assets.

It is necessary to pay attention to hacking vulnerabilities because without compromise, perpetrators can carry out actions on wallets without wanting to know that it is the wallet that holds the most assets. The action is to maintain the best security of the wallet because they can only hack wallets and not bitcoins. The wallet with the most assets is the main target, so the reminder don't save money online includes exchange wallets.

If this reminder cannot be implemented properly, the risk is very fatal and the biggest hacking incidents I have ever known will happen again in the bull phase, then we will be among those who experience it.

[goxcraft]

My first choice, would be Bitcoin, without any doubt. Not fiat, not banks, not third parties only bitcoin. I would trust my money only with Bitcoin if it's kept in online. Even the reputed coins scammed, big shot exchange involved in fraud. But Bitcoin is still standing with glory from 2009 to present. It's it enough prove to trust in it? My second choice, would be in valuable rare earth material like gold, silver, diamond etc. Paper money can loss it's value anytime. But not these items.

[ZAINmalik75]

During the 2017-2018 bull run, crypto experience fraud from bitconnect, onecoin etc who disappear with billions of peoples dollars.
At bull run 2020-21we also experience fraud who will subsequently take advantage of people gullibility to ruin them, Luna, 3AC, Ftx, etc.

you should know that no matter the punishment for the person behind these scandals, there will always be bad actors in the crypto ecosystem at the next bull run .

In the hype or FOMO situations people, mostly newbies make mistakes and become victims of scams and hacks. A big example of this is my country where many phishing platforms come from each other. Propose a project where people have to invest money and sit idle and wait for that money to increase. And at some point when those projects gather enough funds they run away with all the money.

That does not stop here, such platforms came again in the next year and scammed people again which means the same people who fell for such a platform for the first time fell for it the second time too. I do not know why people are so eager to depend on the platform only and do not want to make efforts by themselves.

If they would have thought about it before totally depending on it then they would have been saved. My words are not only for that phishing platform that scammed our local people but for all of those centralized exchanges and decentralized too, and those platforms that are directly and indirectly related to crypto.

[SmartCharpa]

During the 2017-2018 bull run, crypto experience fraud from bitconnect, onecoin etc who disappear with billions of peoples dollars.
At bull run 2020-21we also experience fraud who will subsequently take advantage of people gullibility to ruin them, Luna, 3AC, Ftx, etc.

you should know that no matter the punishment for the person behind these scandals, there will always be bad actors in the crypto ecosystem at the next bull run .
We need to be sure where we put our money, no matter how solid the project or exchange looks like, if the founders mismanage people fund,  we will be burned if we don't take the necessary measures, imagine those who believe Do kwon's Luna.

When they finish talking advantage of Bitcoin and altcoin all time high, they converted everything to ust to be able to earn free money 20%  a year on anchor protocol.
And selll their ust at a loss because they where skeptical of depeg at the beginning and believe too much in Do kwon.
After having sold there ust's they took the remaining money to put in Ftx to loose in November because they where quite gullible.

It's just like profit from a bull run and be ruin by scammer or irresponsible player in the crypto ecosystem. Don't be too believing of anyone in the crypto ecosystem, especially with your hard earned money, tred with caution.

This is a nice thread, but I was wondering as to how those who were scammed will feel. I feel so bad for them; you are right that we shouldn't trust anyone with our money, but anyone who gets involved in cryptocurrency from the beginning must be prepared to lose money. For this reason, everyone should be aware of how it works before participating in it, as the majority of people won't have much knowledge about cryptocurrency and when this kind of a thing happen they will be complaining that they get scam.

Because of this, some people view investing as gambling; they view it as the same way that people are duped. Rather than using their money to invest, these people would prefer to use it to gamble, and when they lose, they do not point the finger at anyone or complain because they are aware of the system's operates. The same is true for cryptocurrencies, and in my opinion, when we use the best exchange, our assets will be secure. Nevertheless, we should be aware that there are risks involved and that we cannot always win.Because we can't just leave our wallet outside and assume it will be safe.

[BIT-BENDER]

At bull run 2020-21we also experience fraud who will subsequently take advantage of people gullibility to ruin them, Luna, 3AC, Ftx, etc..

Many people who were affected by this are novice, or people that were taking chances with the FOMO created already, using Luna as an example. It has gone parabolic and many people missed out from the profit, so even with the price of Luna dropping many people were still willing to invest in it and even top influencers with high following were creating more FUD and FOMO by posting the amount they have invested in Luna.

The Luna case just goes to show you have to do your own research and not get into decision based on the point of view of an influencer or even what the trend is saying.

[lalabotax]

you should know that no matter the punishment for the person behind these scandals, there will always be bad actors in the crypto ecosystem at the next bull run .
We need to be sure where we put our money, no matter how solid the project or exchange looks like, if the founders mismanage people fund,  we will be burned if we don't take the necessary measures, imagine those who believe Do kwon's Luna.

Always understand the risks when entering the crypto world. that this is a high risk, whatever it is. Moreover, in various cases, we often find FUD spread over a certain period of time, market manipulation, and also issues related to bearish and bull run processes. There will definitely continue to be parties who try to play their role in crypto to gain profits for themselves. And they don't care about our fate, especially those of us who can be said to not be whales. For this reason, we are obliged to know ourselves, be aware and be alert at every moment. Strive to stay up to date with various market news and conditions, do some research, and stay alert if there is FUD occurring which could possibly become a rug pull. Previous big cases have become very valuable examples for us, and we must understand that these cases could happen again in the future. So we have to remain alert to all of that. So that we will not easily get carried away by the hype and FUD that is being spread.

[Vaculin]

Expect that fraud and scams will never stop as long as there are people who will never stop from taking advantage of other people's money. That is why before deciding to risk your money on a certain investment, do your own diligence to research. Never stop until you see some red flags that will prevent you from investing. And when you prove to yourself that you are in the right investment, start putting a small amount at first so that if things never work as planned, it will be easier for you to recover your losses. Be careful where you put your hard earned money, as everything will vanish like thin air if you resort into wrong decision making.

[Mr.suevie]

My first choice, would be Bitcoin, without any doubt. Not fiat, not banks, not third parties only bitcoin. I would trust my money only with Bitcoin if it's kept in online. Even the reputed coins scammed, big shot exchange involved in fraud. But Bitcoin is still standing with glory from 2009 to present. It's it enough prove to trust in it? My second choice, would be in valuable rare earth material like gold, silver, diamond etc. Paper money can loss it's value anytime. But not these items.

Well that's no surprise for because Bitcoin has actually proven it's reliability and that's why I think you are so confident now in chosing to keep your money in Bitcoin. Well I think is actually a good means to save or put your money. Well depending on the current situation in my current economy now I think people have started to save their money in usdt because everyday our nations fiat is losing greatly against the dollar and this upset has lead many people to actually put or save their money in usdt.

[Lida93]

Whatever money is involved it is binding that fraud and other forms of crimes will be in the midst that's why we should as crypto interested individuals give importance to research and be very cautious of whatever investment decision we want to take with respect to our funds.

The reason we keep having increased successful scamming schemes in the crypto space is because there are many lazy people with money who see research study on any project before investing as a herculean task and based on that they have to learn it in the hard way. If only people can calm down their heads and scrutinize a project before throwing in their money to invest, a great number of scams project would have been remarkably limited.

We know making money is accompanied with risk taking but there are a few risk that are not worth it but out of greed people still take it anyway because it promised to be a huge returns.
 How do people reconcile with the idea of making huge profit in a short time, like does it mean those in control of that project don't love making money too?

[CryptoHeadlineNews]

During the 2017-2018 bull run, crypto experience fraud from bitconnect, onecoin etc who disappear with billions of peoples dollars.
At bull run 2020-21we also experience fraud who will subsequently take advantage of people gullibility to ruin them, Luna, 3AC, Ftx, etc.

you should know that no matter the punishment for the person behind these scandals, there will always be bad actors in the crypto ecosystem at the next bull run .
We need to be sure where we put our money,

Yes, it's true that investing in Bitcoin is good, but likewise  knowing how to safeguard your funds in times of crisis is far more better, which means that if only all those who lost their Bitcoin to exchange crashes had all known the importance of keeping funds in a wallet where they own the private key to their funds, they never would have lost a penny of their investment. Hence, I will like to advice all newbies that while they consider buying Bitcoin, let them not forget making security of funds their number one top priority by ensuring to us a non-custodial wallet such as "Electrum and Ledger Nano X hardware wallet".

[lionheart78]

Reading the case of @OP I arrive to the conclusion that it is best to just buy Bitcoin and hold it to our own non-custodial wallet.  Letting a centralized platform handle our investment is prone to losses due to the factor stated by @OP.  It should be a lesson learned to us that entrusting our funds to third party is more likely result in a loss due to the possibility of scams, fraud, and bankruptcy.

And now that the next bull run is approaching, we must be wary of the centralized services that will pop out promising us with interests and profit, better if we can avoid them and just buy Bitcoin for the investment and personally secure them.

[Sexylizzy2813]

Reading the case of @OP I arrive to the conclusion that it is best to just buy Bitcoin and hold it to our own non-custodial wallet.  Letting a centralized platform handle our investment is prone to losses due to the factor stated by @OP.  It should be a lesson learned to us that entrusting our funds to third party is more likely result in a loss due to the possibility of scams, fraud, and bankruptcy.

And now that the next bull run is approaching, we must be wary of the centralized services that will pop out promising us with interests and profit, better if we can avoid them and just buy Bitcoin for the investment and personally secure them.

I quite agree with you on that but to me it should be that after or if getting in any crypto business is best to get your mind ready that you're taking a very big risk or getting into huge risk that your funds are left in the open, getting your mind ready that anything can happen is even better than ignoring the fact that your assets is in a big risk.
Is like you're preparing for the worse and hoping for the best. Now lete me as, what if the 3rd party decide to be the scammer that you think you have escape from? What would you do? The thing is no place is safe, like I said is best to get yourself ready just in case.

[Rockstarguy]

We need to be sure where we put our money, no matter how solid the project or exchange looks like, if the founders mismanage people fund,  we will be burned if we don't take the necessary measures, imagine those who believe Do kwon's Luna.

With all the fail investment plans we have seen so far in the past should be a great lesson for people not to take any projects serious, with this experience in the past should be a good reason why people needs to be very careful and nor jump into any investment. Project of exchange is very risky,  before now some projects end up folding and many people lose their money. What happened in the past must be be a great lesson for people so that they will not just jump into any project they see for investment,  because most of the project we have now are scam project and very possible to fold at anytime.

[Zoomic]

Bull run is actually a period to be weary of in the cryptocurrency market. Bull run comes with many things as follows;

• Joy of the profits
• Plenty of scams as new projects will emanate
• Plenty of exit scam 
• Plenty of newbies will troop in the industry 
• Difficulty to differentiate the good project from the fake

All these characterizes the bull market, so according to the Op we should be mindful of where we will invest our hard earned money.

[Youngkhngdiddy]

We need to be sure where we put our money, no matter how solid the project or exchange looks like, if the founders mismanage people fund,  we will be burned if we don't take the necessary measures, imagine those who believe Do kwon's Luna.

People have the fear to invest in Bitcoin because of the lack of transparency and fear, some may have had some awful experience and conclude  anything cryptocurrency is fake. But no it is lack of knowledge and ignorance that makes people fall victim of this scam. Many love the get rich quick scheme and fail to realize that not every thing that glitters is gold. They fail to realize that bitcoin or the cryptocurrency ecosystem is not a an all night get rich scheme. You need to study crypto carefully before investing in any project. In last bull run when we had lots of promising projects and a lot of people bagged in such opportunities. But now that we are currently in the bear market we saw some project got discredited and couldn’t get enlisted in some exchanger.
 So before investing your hard earned money into projects do your homework about the project you’re investing in, invest your time and effort in doing research. Know the concept of trading, master your technical analysis. If possible they are other options one can consider investing on if you don’t have an idea about cryptocurrency. Even though we all need to take risk some time but not make desperate move.

[hatshepsut93]

It's just like profit from a bull run and be ruin by scammer or irresponsible player in the crypto ecosystem. Don't be too believing of anyone in the crypto ecosystem, especially with your hard earned money, tred with caution.

You still have a wrong perspective. You think there's good coins and scams, in fact it's just Bitcoin and shitcoins/scams. Bitcoin is a real open-source project developed by hundreds of independent enthusiasts around the world and controlled by nobody. All the other coins are developed and thus controlled by a small number of individuals. Those individuals are likely just dumping their premined coins and have no intention of actually developing something, but even if they do, they will still fail because they set unrealistic goals.

[CryptopreneurBrainboss]

You should know that no matter the punishment for the person behind these scandals, there will always be bad actors in the crypto ecosystem at the next bull run.
We need to be sure where we put our money, no matter how solid the project or exchange looks like, if the founders mismanage people fund,  we will be burned if we don't take the necessary measures, imagine those who believe Do kwon's Luna.

Are the culprit even getting punished enough, we had so many scams in the past years that's too many to keep track of all. We'll still have more scam events in the future because alot of users will come into the market as newbies when the market starts pumping. This new users won't be informed of the scammers tricks and will still fall for those shiny project that won't last after the bull market as they'll crash like others has done during the bear market. Most projects can't last through their first bear market because their hypes strategy won't work during the bear season. The advice would be, no matter how solid you think a project is, just know if it isn't Bitcoin don't Invest your money because those tokens can be dumped on you by their founders as they exit scam their investors.

It's just like profit from a bull run and be ruin by scammer or irresponsible player in the crypto ecosystem. Don't be too believing of anyone in the crypto ecosystem, especially with your hard earned money, tred with caution.

Put your money in guarantee investment like landed property if you won't be comfortable holding your Bitcoin through the bear season, Or better still hold fiats as they're better than stablecoin. No stablecoin can be depended on as they can collapse as other stablecoin has done or they lack liquidity for you to sell. Both centralized stablecoin and the decentralized ones had their pros and cons so is better to hold fiats during the bear market season or keep on holding your Bitcoin for the next bull market.

[stompix]

Be careful were you put your hard earn money
~
It's just like profit from a bull run and be ruin by scammer or irresponsible player in the crypto ecosystem.

Ever heard of easy come, easy go?
That's what happening, you land a ton of money by doing NOTHING as benefiting from a bull run is anything BUT hard work then you think you have discovered the key to free money and you land in all those scams.
If it were indeed hard work money you wouldn't be throwing away at x100 in a month schemes because you would know how hard it was to get those in the first place and how it would be to get those returns in real life.

People should rally strat ti be honest with themselves, those scams exist because everyone who falls for this is looking for easy money, not for work money!

[Honyek]

Somebody has to be careful of where one puts ones hard earn money. However, the world is full of risk, likewise trading or investment. To trade in bitcoin, it is very essential that someone make proper research of the best exchange to trade with in order to avoid lose along the line. Normally, anything can happen, but one needs to check past record before making any engagement.

[Baki202]

Expect that fraud and scams will never stop as long as there are people who will never stop from taking advantage of other people's money. That is why before deciding to risk your money on a certain investment, do your own diligence to research. Never stop until you see some red flags that will prevent you from investing. And when you prove to yourself that you are in the right investment, start putting a small amount at first so that if things never work as planned, it will be easier for you to recover your losses. Be careful where you put your hard earned money, as everything will vanish like thin air if you resort into wrong decision making.

Scams are even increasing in frequency, and they will never stop because criminals are constantly coming up with new ways to defraud people of their money. People want to make money by any means possible when it comes to investing their money, and because they are desperate, they won't do any research before investing their money because all they will be thinking about is profit. As a result, many people have fallen prey to scams because they didn't do their homework.

[Finestream]

I think your post is discouraging people from ever investing in any project. It's really hard to tell if a project is going to scam you after a few years or not. It's still better to know that there are certain risks involved when investing and with that in mind, it shouldn't be a problem to invest because you understood that there are risks.

I believe it's better to have that management rather than doing nothing at all.

OP is trying to warn us not to be too trusting with those too good to be true crypto projects and exchanges that offer promising profits. They might be in profits today but tomorrow might probably be a lot different, that is why learn to be cautious with our actions and decisions as what is certain today might be uncertain tomorrow. Most especially if it involves our hard-earned money, then it's crucial to DYOR first before resorting into final decision.

[Benedictare]

You should know where you are putting your money and how It works before investing in any business of your choice.
Fraudin is normal and has been since time memorial, the zeal for us to get more than what we are expected makes us lose our hard earned money to fraudsters. Bitcoin investment is gengine,but the problem you might have would be your channel of communication, introduction and exposure to Bitcoin also your  knowledge and understandin of how it works before investing.,also not being patience you will be a  victim of fraudsters and hackers, which i didn't think if you're careful will happen to you,your private information are very important, so you must choose a safe place to store your money on centralize exchange and control your private key.

[Franctoshi]

One should be dealing with these exchanges extremely carefully because most of this scam shit and bankruptcy that happened took place in exchanges. Secondly, if you are a day trader ensure you pull off your funds at the end of the trading day to be on the safer side. Self-custody is highly recommended. No entity should be trusted when it comes to storing your Bitcoin and cryptocurrency and always be in charge of your key because this is one of the main purposes of cryptocurrency.

[CryptSafe]

OP I really do not know about your stand though if wether you are talking from experience or not, that is what I can not tell but the truth is that you should have it in mind that the world is full of both the good and the bad. In the course of life one must encounter with the good and the bad.  When it comes to blockchain one needs to be extremely careful and alert as it is said to be volatile so it is when scammers comes in disguise as airdrops, giveaways and lots more. Some come in form of third party exchanges which run away with peoples resources all on the name of hack. They are scammers and do not portray what they claim to be.

That is why you are advised to always save your assets in your own self custodial wallet for your own safety. Remember "not your keys, not your coin"

[BitcoinPanther]

I think your post is discouraging people from ever investing in any project. It's really hard to tell if a project is going to scam you after a few years or not. It's still better to know that there are certain risks involved when investing and with that in mind, it shouldn't be a problem to invest because you understood that there are risks.

I believe it's better to have that management rather than doing nothing at all.

Honestly, I do not find @OP's post to be discouraging, but instead it gives me a reminder that I should be cautious in every investment I made.  That I should not get easily swayed by these get rich quick schemed offered by any company and don't trust people blindly.  I agree someone might find it discouraging but we should also look at the underlying meaning of these discouragement.

Crypto investment is really risky, in fact it is labeled risk with very high possibility of losses especially when we invest on newly created altcoins.  Only a few cryptocurrency specifically Bitcoin and other highly supported coins that has large community and stable demand that is worth noticing.  Even with these high community projects we should still study the project we are interested to invest with.

[Sandra_hakeem]

We've been saying this overtime in here... Getting involved in any investment platform of any sort isn't advisable for peeps that don't really know the differences between something genuine or not. It's an opportunity to be here - to learn and adopt the risk management system.
way-back at time when FTX, a platform operated and owned by bankman fried was still in existence, people gave in too much trust that they left Thier funds heavily stuffed in there - forgetting that it was absolutely in another person's control and could disappear in a twinkle of an eye.

Sandra 🧑‍🦰

[Dr.Bitcoin_Strange]

The bad incidents that have happened so far in the crypto space are enough to make newbies learn from the mistakes and experience of others, and that's the reason why it's regularly said that bitcoiners should never save their assets on centralized platforms and also not look for easy ways to multiply their coins. Some platforms promise to reward users with a high percentage of APY, which will convince them to stake in or save their assets without thinking of the risk factors. In the crypto space, security is paramount, and every crypto enthusiast is supposed to exercise caution, knowing that there are always scammers who are also working around the clock in search of victims.

[Dzwaafu11]

We've been saying this overtime in here... Getting involved in any investment platform of any sort isn't advisable for peeps that don't really know the differences between something genuine or not. It's an opportunity to be here - to learn and adopt the risk management system.

You are right; it is very important to know where our money is invested, and that is what will help us manage the risk of our investment. Knowing both the negative and positive sides of our investment is very important because it will help us identify whether it’s a scam or not.

However, it’s actually an opportunity to be aware of this forum, as you will learn everything about the crypto currency at large and how people see bitcoin, because it’s also very important for a bitcoiner to know it.

[Yamifoud]

The bad incidents that have happened so far in the crypto space are enough to make newbies learn from the mistakes and experience of others, and that's the reason why it's regularly said that bitcoiners should never save their assets on centralized platforms and also not look for easy ways to multiply their coins. Some platforms promise to reward users with a high percentage of APY, which will convince them to stake in or save their assets without thinking of the risk factors. In the crypto space, security is paramount, and every crypto enthusiast is supposed to exercise caution, knowing that there are always scammers who are also working around the clock in search of victims.

I hope they well and I am supposed to believe that they have listened carefully and all those experiences that they have will give them a reason to improve and become responsible with their password and login credentials.
Indeed, irresponsible investors will get the consequences. As the number of scam issues and hacking incidents is increasing, we have to take extra caution in choosing legit exchanges and a wallet where to keep our funds. We don't have to let these greedy people take our money too easily as we can avoid them if we really want to do it.

[Z390]

Easy, just do your own diligent research before investing on any projects, there are words going around the world that crypto is the next big place where money swims in and out of, so this have caught the attention of even many more bad actors and hackers, I also believe that you will be ok if you don't invest too much money, I include this because even projects with transparent teams are still scamming people, and projects with anonymous team are doing quit well, so always invest only what you can afford to lose.

Anything different from Bitcoin is ten times risky more than Bitcoin, but you can still make money from them, my best advice is to use diversification because there is no way to tell which project will survive in this bear market, even if you are very good with analysis you can still become a victim to rug pull projects and many will still rug pull before the year runs out.

This is why I am much interested in Seedify projects, they are well audited and the past projects that got launched using Seedify all did well and till date they all survived, so all you need is good information and knowledge.

[odunybiz]

Scam project is full of everywhere in recent time. One needs to do enough research before investing in order not to waste his hard earn money.

[Obari]

Another advice to add to this is also trading with caution and avoiding following thread especially when you’re not sure or certain of the project you intend getting involved with.
The cryptocurrency has faced a lot of challenges including rug pulls and scams and despite all that have happened, bitcoin still remains strong and striving and that’s one reason people ought to stick to bitcoin and not gamble with their cryptos. People should always know how to handle the internet and the dangers they bring and that’s why I always advice people to be very conscious while online and don’t just send money to random people  online.

Scam project is full of everywhere in recent time. One needs to do enough research before investing in order not to waste his hard earn money.

I agree with you and a lot of research ought to done before moneys is invested in any online platform as no one will be held responsible if any negative thing happens.

[albon]

Honestly, I do not find @OP's post to be discouraging, but instead it gives me a reminder that I should be cautious in every investment I made.  That I should not get easily swayed by these get rich quick schemed offered by any company and don't trust people blindly.  I agree someone might find it discouraging but we should also look at the underlying meaning of these discouragement.

Crypto investment is really risky, in fact it is labeled risk with very high possibility of losses especially when we invest on newly created altcoins.  Only a few cryptocurrency specifically Bitcoin and other highly supported coins that has large community and stable demand that is worth noticing.  Even with these high community projects we should still study the project we are interested to invest with.

The person should invest prudently and carefully choose the projects where he will put his capital and conduct adequate research using his experience and skills. These are necessary things that must be taken into account. There are many good legit currencies that have strong teams with solid foundations. But the market is largely dominated by unreliable shitcoins and scam projects and projects run by irresponsible teams that do reckless things leading to their eventual failure. Therefore, every person must keep abreast of the project’s updates, goals, and related news and invest what he can afford to lose because, as you mentioned, investing in any cryptocurrencies generally involves risks because the crypto market is highly volatile. Still, with the practical management expertise of these risks, experience, skills, and necessary qualities, the investor can face any challenges and protect his capital. Even though Bitcoin is the most secure currency in the market it is unwise to invest in it with hard-earned money blindly and unthinkingly.

[LogitechMouse]

~

During the 2017, I saw Bitconnect went from around $400 to nearly $0 in just a matter of a few days. I mean just imagine those people who lost their money at that time. I don't know the structure of a ponzi scheme at that time, but I did research how's the ecosystem of the project, and how it operates, and I learned from that incident. Feel sorry for those who lost their money, and those who committed suicide unfortunately because of what they've experienced. The worst thing is that, the mastermind of that ponzi scheme didn't get arrested, and correct me, but he's still free as of this moment.

One advice. Focus your hard earned money on Bitcoin if you really want to be careful... or at least if you want to lessen your risks. Look the projects who got either scammed or hacked. All of them are altcoins. Some scammers might use Bitcoin to lure those newbies, and that's the reason why we need to research first before investing our hard earned money. I see OP's post as a reminder, and because of this thread, we might see 1 or 2 newbies learning from it.

As an investor, let's always be vigilant because people can scam you anytime, and every time they want, and they have no compassion or empathy to you, so always beware.

[Sebas.tian]

We need to be sure where we put our money, no matter how solid the project or exchange looks like, if the founders mismanage people fund,  we will be burned if we don't take the necessary measures, imagine those who believe Do kwon's Luna.

Where you invest your money will determine what you are going to achieve in the future, because if you invest in a potential projects that is very popular in the market ,I think you will have something suitable to achieve at the end of your investment.  Many investors has lost their money to scam project in the community because they didn't take their time to investigate the project very well before making it their choice , and other investors will learn a lesson from them not to fall victims to scammers in the community. There are reliable projects in the community you can invest in this bearish season and you will not experience any challenges in your investment because those projects has be in the community for long with good result to their customers.

[Porfirii]

I have recently made a new friend in the forum (you may know him already too, he is Cuban and recently joined Bitcointalk) and I just answered him that before doing anything with his hard earned money he should hodl it and learn for a while.

He has heard about a trading platform and was asking if it is reasonable to deposit there more or less a month's salary. Taking into account that he is newbie, I don't think this is the best idea, and told him that if I were him I would hodl the money and focus on learning about crypto first.

[BRINIRHA]

And in fact, in altcoins, countless fraudulent projects have been born to date. the LUNA tragedy is just an example of a large project. But the truth is that many more are losing money from the many small projects that keep popping up endlessly. But all of that is part of a risk that everyone who is into crypto is familiar with.

And not only in crypto but also in other investment instruments, fraud often occurs. So basically everything has a positive side and a negative side. And it will be the same in all cases. And remember, there are projects that intend to cheat, but there are also serious projects that end up bankrupt. So they are two different things. And actually the competition between exchanges is also very fierce. So we don't know which exchange will follow FTX next.

But one thing to be grateful for is that from all the tragedies that have occurred we can learn lessons and the security system has also been updated. The exchange even displays a list of their wealth assets to make customers believe that their funds are sufficient even to serve if all users withdraw assets together. And yes, the FTX tragedy brought better changes to other exchanges.

[Publictalk792]

Not even this field, we will see fraud and and scam everywhere. And the crypto invites many scammers. Like you have given the examples.
But if anyone want to get benifits so this is the time to invest. Invest and hold. I only believe in Bitcoin because this is not in anyone's hand. Satoshi is no where. But others projects have the owners so they can scam at anytime.

[ancafe]

When they finish talking advantage of Bitcoin and altcoin all time high, they converted everything to ust to be able to earn free money 20%  a year on anchor protocol.
And selll their ust at a loss because they where skeptical of depeg at the beginning and believe too much in Do kwon.
After having sold there ust's they took the remaining money to put in Ftx to loose in November because they where quite gullible.

It's just like profit from a bull run and be ruin by scammer or irresponsible player in the crypto ecosystem. Don't be too believing of anyone in the crypto ecosystem, especially with your hard earned money, tred with caution.

Self-confidence is important, but placing complete trust in patterns conveyed by other people can damage the investments and trading we do. Make a separate analysis regarding the investment you want to undertake and look at which category the investment is worth carrying out according to our ability to be responsible. Forcing investment sometimes will not produce profits, if it is not accompanied by our ability to see the potential opportunities with these coins.

Crime and fraud will continue to exist along the way and this is not only in crypto but will continue to exist everywhere. Don't invest and trade with the money you earn from hard work and when you are not ready to lose all of that money. Be careful if you want to get involved and don't easily trust other people before making your own analysis.

[Antotena]

Not even this field, we will see fraud and and scam everywhere. And the crypto invites many scammers. Like you have given the examples.
But if anyone want to get benifits so this is the time to invest. Invest and hold. I only believe in Bitcoin because this is not in anyone's hand. Satoshi is no where. But others projects have the owners so they can scam at anytime.

Anywhere there is money, expect some level of fraud and scammers trooping to that area. If money is concentrated one place, scammers will come there to take advantage of people that have little knowledge on how the thing work because they know innocent people will also come there.

Always do research, no short cut, this is the main reason why many people loss money in crypto, they don't want to follow normal process, they want to feel how it is to be a good crypto investor with a success story.

[tabas]

Hopefully, we don't just get the same reason when the bull run is done. Anyway, it's still quite far to think of it and everyone were amazed of what Luna / Do Kwon did of investing to Bitcoin to make it look great that their project is backed by Bitcoin reserves. But apart from that, there were more shady things and something else with that. Everyone learned there that still nothing beats Bitcoin and no people, no project that it controls it but only itself and the technicals beyond it, which had become its natural ecosystem.