How many scams have you caught?

[justdimin]

So far we have come to know about many scams and many scams have been discussed in this forum. The biggest fraud I have seen and known is the SBF fraud. The fraud committed by FTX is considered to be one of the biggest frauds ever. Investors have lost huge amounts of money due to this scam and many investors have lost confidence in crypto platforms and exchanges.

Yes. FTX is one of the biggest but not the biggest of all I believe when considering mt.gox and in terms of BTC. With that said, many people are used to it. They can lose their confidence but that is only for a while and later on they will come back again.

Mixer campaigns have cheated but those cheats are nothing compared to the FTX cheat because the FTX cheat is one of the biggest cheats I have ever seen. SBF was heavily penalized for this massive fraud even though investors did not get their money back due to his conviction.

Are you referring in the mixer signature campaign in the forum? Maybe some are cheaters, in a way that they don't pay the manager and their participants. If you are only referring on the mixer itself/alone, again maybe some can cheat because they don't return their customer's coin. For the legit ones, I think you can't call them a cheater because their primary purpose is only to enhance the user's privacy. And I think not all who does that are cheaters.

Maybe millions, billions, and so on... dollars can be involved sometimes. So, it is actually possible that they can be bigger than the amount involved in the FTX scandal but the case of FTX is different. They are more harsh since a lot of people have been affected.

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[Dr.Bitcoin_Strange]

It's been said hundreds, if not thousands, of times that "scammers are everywhere." You just have to be very careful and conscious of where you put your money, to whom you give your privacy information, the sites you log in to, and the links you click. Scammers are on social media, and they can also send emails to you requesting that you sign up for something or claim some rewards that you have won. All that is just to trap you. If you are aspiring to invest in Bitcoin or are already an investor, your priority should only be to accumulate Bitcoin and also store your coins in a self-custodial wallet, which makes you the only person in charge of your asset if you give out your secret phrase to anyone.

[synchronym]

I invested money in several schemes after which I lost a lot of money. I don't want to remember old things anymore. I feel very bad when I think about scams. We should all be wary of such scam schemes. Such  schemes trap people and embezzle their money. So we have to be careful to prevent ourselves from this scam .

[Abu-Naim]

I have seen many cases of fraudulent projects on this forum https://bitcointalk.org/index.php?board=83.0
What I want to ask you is how many times have you been caught in a scam project?
And what factors deceived you?
Please share your experience with me so that I can be careful in the world of cryptocurrency.
Thanks.

The promises made by a project team always draw my attention.
There is a project that I believed in back then, they promised great returns, and I invested in the project even though it was not a large sum, and seeing that the project has been promoted here in the forum and it was launched in API protocol that will promise big profits, I decided to invest in it again. I realized it was greed that led me to believe such a project would reward me, and I was duped because I can't get my money back.

The lesson to always remember is to avoid becoming greedy.

[kentrolla]

I have come cross so many scam projects especially from bounty section wherein the white papers will be plagiarised and they will morphed their image with Linkedin profile of somebody else, They will claim to hit the cap cap without an valid private or pre sale and I was part of an bounty named COOP/GMD more than an year ago suddenly i along with few were tagged stating we won $500 each and when I initiated the process to get the prize they took us to different page where we were asked to synch our trust wallet and also were asked to retire it through a different site which asked us to deposit minimum amount tin orde to withdraw and luckily I am aware what happens pls that as it's a made up site to keep extracting money in form of minimal deposit before withdrawal and later realised it was a fake group some scammer has checked the bounty sheet and added all the participants from their to this fake group.

[tvplus006]

...Please share your experience with me so that I can be careful in the world of cryptocurrency.

The number of different types of fraud in cryptocurrency is as large as in real life and they are all usually based on the greed of users who want to get a lot of money in the shortest possible time. So if someone offers you to get an unrealistically large profit, you'd better immediately refuse such an offer, since such offers are usually offered by scammers.

[electronicash]

I have come cross so many scam projects especially from bounty section wherein the white papers will be plagiarised and they will morphed their image with Linkedin profile of somebody else, They will claim to hit the cap cap without an valid private or pre sale and I was part of an bounty named COOP/GMD more than an year ago suddenly i along with few were tagged stating we won $500 each and when I initiated the process to get the prize they took us to different page where we were asked to synch our trust wallet and also were asked to retire it through a different site which asked us to deposit minimum amount tin orde to withdraw and luckily I am aware what happens pls that as it's a made up site to keep extracting money in form of minimal deposit before withdrawal and later realised it was a fake group some scammer has checked the bounty sheet and added all the participants from their to this fake group.

thats where the scams usually happen since there never was a way to verify and scammers are becoming very smart too when it comes to hiding their identity as part of the team. i have encountered countless times back in 2017. although my investments are just few, i was still scammed.

the newest scams that i have encountered so at this 2023 are the scams in telegram regarding buying telegram usernames. some tricky users are doing this and even the social media account services are accepting BTC. it's funny sometimes they think they know very well crypto when you ask them their USDT bep20 address they give you their bech32 BTC address.

[TelolettOm]

I have seen many cases of fraudulent projects on this forum https://bitcointalk.org/index.php?board=83.0
What I want to ask you is how many times have you been caught in a scam project?
And what factors deceived you?
Please share your experience with me so that I can be careful in the world of cryptocurrency.
Thanks.

Scam projects that make them look like very legit projects, but it turns out they are just taking advantage of us, after they get it, they run away. I've experienced this several times, fortunately I didn't put money into their project, but at that time I participated in their bounty program several times. worked for several months and finally got nothing. And it turns out that they are indeed scam projects under the guise of legit projects. Even though I have analyzed the project and it looks very convincing, in reality, it is really a scam.

Apart from that, we often come across airdrops with the promise of big prizes. However, one of the conditions is to enter important data from us, some even ask them for private key or private key data or send a certain amount of funds to their platform to disburse the prize. This happens very often. And in reality, there are still many victims who are caught in scams like this even though it has happened many times.

[Wexnident]

I have seen many cases of fraudulent projects on this forum https://bitcointalk.org/index.php?board=83.0
What I want to ask you is how many times have you been caught in a scam project?
And what factors deceived you?
Please share your experience with me so that I can be careful in the world of cryptocurrency.
Thanks.

I'd say some of the first few projects I participated in? I wouldn't call them scam per se (I think, might be wrong), just that they promised results that were far and above and my dumb ass fully believed it. When their coin was released the project simply dumped downward really hard making the time and effort I gave it useless. After that, I simply stopped providing for new projects. Even if profits were low, I only settled for projects that were already known for a long time and hardly checked on the new ones. I do study on some that I gain an interest in, but I limit it to solely studying them. Investing/Participating? Nope.

[Silberman]

I have seen many cases of fraudulent projects on this forum https://bitcointalk.org/index.php?board=83.0
What I want to ask you is how many times have you been caught in a scam project?
And what factors deceived you?
Please share your experience with me so that I can be careful in the world of cryptocurrency.
Thanks.

I have been scammed once before but not on this market, just lost a couple of tens of dollars and I still learned a lot from the experience, and probably the best advice I can give you is the simplest one, which is to use your common sense, if you see a bunch of developers promising their investors that their coin is going to give them massive profits then this is a clear sign that such a project is a scam, as no one can really give you the security that their coin can produce those kind of profits, so as long as you use your common sense you should be fine and you will be able to avoid most scams.

[dothebeats]

There are far too many in my local crypto community. In a Facebook group that I belong to, I'm one of those who report potential scams to admins that are managing the group. We're able to nip the bud right even before it blooms, and I'm glad that I'm a part of busting those schemes right even before they claim a victim. All in all, I think I helped catching over 20 scams in my local community in the span of 5 years, most of which are Ponzi schemes promising extravagant returns after x amount of days.

[taufik123]

-snip-but at that time I participated in their bounty program several times. worked for several months and finally got nothing. And it turns out that they are indeed scam projects under the guise of legit projects. Even though I have analyzed the project and it looks very convincing, in reality, it is really a scam.

You are in the same era as me, since Bitcoin reached ATH in late 2017, there have been more scam projects advertised with Bounty, and even they don't use experienced managers.
It looks like there are so many scam projects that we receive that in the end we just get scammed and get nothing and are just wasting time.
But it is a lesson so that before participating in any bounty campaign, always do research, but in sufficient detail because they used to fake identities well.

Apart from that, we often come across airdrops with the promise of big prizes. However, one of the conditions is to enter important data from us, some even ask them for private key or private key data or send a certain amount of funds to their platform to disburse the prize. This happens very often. And in reality, there are still many victims who are caught in scams like this, even though it has happened many times.

Airdrops asking for personal data may already be quite common, but if an airdrop asks for a Private Key, obviously it's already a real trap.
Only fools would give away their private keys just for worthless airdrops.

[fauzan Ichsan]

In my area, cryptocurrency investment is actually booming, wrapped in multi-level marketing, where if we don't get downlines, our money will grow by 2% per day and if we get downlines, we will get a certain fee which is certainly very tempting. Unfortunately, many people don't understand the world of crypto, they are tempted by the profits and feel proud of being part of technological developments. and it's not a scam at this time, but with a Ponzi scheme, of course you're just waiting for a time bomb

[tjtonmoy]

What I want to ask you is how many times have you been caught in a scam project?

I have been caught in a scam project before. It was one time with one project. In 2021 but I can't remember the date. That project was called Merlin. It wasn't advertised in this forum. They ran a campaign in Medium. I lost $360+ on that project. They had this staking system where you get a reward for staking their token. I was a newbie and didn't know much. I staked all at once and then the whole project got hacked. Then I came to know that it was an exit plan all along. So I got scammed there. After that, I was very eager to learn to avoid those scams.

And what factors deceived you?

As mentioned above, I got caught and was not able to get out of it. But after that, I have seen many fishy projects that turned out to be a scam later on. Also, one of my friends got scammed on a project. I immediately recognized it. You can say like a gut feeling. It was related to Tron staking or something like that. You buy trx, you stake that in their platform, and when you try to withdraw, they ask for a fee from you for withdrawing your tokes. Like what the actual fuck. I have the asset in my wallet, take it from there. Why do I have to send more money to get my own money? This is what gave it away. I told him not to continue that and withdraw what is left there. He didn't listen to me and he got scammed.

[bettercrypto]

We have witnessed many scam projects in this industry. I am the one who has seen and heard about the big scandals I have seen here in the field of cryptocurrency, including those of Mt. Gox, Luna, Ftx, and other campaign projects that have come out.

So we must also know the correct procedures to avoid scam projects so that the victims of such scandals in terms of investment schemes can be avoided. Though, we know scam is everywhere nowadays.

[libert19]

I don't remember them anymore but being scammed made me mature enough to identify them, somehow it becomes natural to you. You see a discord/telegram PM shilling you something, and you instantly know it's scam.

You see half-assed project website, you see project claiming to be next Bitcoin/Ethereum, you see project guaranteeing promised returns — you know it's scam.

You see defi project audited by certik, you know it's not worth your time 

[cafter]

I am most of the times able to know that over promising and high returns in short term is a possible scam so I do not invest in it.
I will not fall into scams like a phone call for refunding and doubling money they are too easy to figure out that it is scam. I was scammed one time by a online cloud mining game when i was new.
I was earning crypto from PTC sites and investing in that but after investing for over 6 months I wanted to withdraw but the site introduced too many different ways to not give the money to players.
like introduced some levels in game, and players need to have 10 active referral to be able to withdraw, etc.

[lovesmayfamilis]

You must understand that when you see promises of a big income for work that is not worth the big money, it will always be a scam. In cryptocurrency, there are always more such projects than correct and real ones. Therefore, everything that seems too suspicious to be true to you is indeed a lie. Of course, this definition of fraud is intended for people who are deprived of any illusion that gifts are being given out on the Internet. If you are very skeptical of strangers who want to “help” you improve your financial situation, then you will forever become uninterested in scammers.

[Dr.Osh]

I think things like that are difficult to count, because there are so many people trying to cheat other people, starting from airdrops, giveaways, projects, bounties, and others. In fact, I have also bought several coins which ended up being a scam. Some things like this are easy to research, some are difficult. For those that are easy to research, sometimes they provide information that is not very clear, and only focus on the number of prizes or profits that we get. However, there are also things that are difficult to detect, such as the person really intending to build a project, but in the end they are trapped by greed and fraud.

[Silberman]

I think things like that are difficult to count, because there are so many people trying to cheat other people, starting from airdrops, giveaways, projects, bounties, and others. In fact, I have also bought several coins which ended up being a scam. Some things like this are easy to research, some are difficult. For those that are easy to research, sometimes they provide information that is not very clear, and only focus on the number of prizes or profits that we get. However, there are also things that are difficult to detect, such as the person really intending to build a project, but in the end they are trapped by greed and fraud.

It is true there are scams that are so blatant that only those that ignore all of those warning signs will throw their money at them, however there are some scams that are so well disguised, or that maybe at the start were not a scam but that eventually the people behind it decided to go towards that direction, that it is very difficult to protect yourself from them unless you purposely avoid most new projects as a self-imposed rule, a rule that makes sense especially if we consider that during the next years even more coins will be released, and every single one of them could turn into a scam without any warning.