Crypto scams flourish most during bull runs.

[Alpha Marine]

With the SEC's approval of Bitcoin spot ETF and with the next Bitcoin halving around the corner, we will most likely witness a bull run that has already begun.
According to research, crypto scams flourish during bull runs. This may because the increase in price makes it easy to convince people and greed and FOMO are also other factors that make people to be easily deceived.

Rug pulls and ponzi have been among the most popular forms of scams in these periods.
Some scammers come in the form of traders or trading companies and convince people to invest with them. Don't be naive.
One thing you should know is, if the offer is too good to be true, it's most likely a fraud. Traders don't control the market so no trader can guarantee you an unbelievable profit. They can't deliver those juicy offers they offer.

I know this topic might have been discussed a couple of times on the forum but I just want to emphasize it because of the trend I've been seeing on social media. I have been seeing a lot of crypto influencers advertising shit coins and other crypto projects. Even influencers who know nothing about crypto advertise crypto projects.

It's good to invest but do it wisely and with the right knowledge. Make sure to carry out your own research before buying any coins.

Side note: Try not to keep your investment in an exchange. Make sure to keep them in a noncustodial wallet.

[1714224094]

1714224094

[1714224094]

1714224094

[TravelMug]

I think it doesn't matter if we are in a bull run or bearish trend, scammers will be scammers. Although it is just magnified in the bull run as there are a lot of newbie investors and this is the target of this cyber criminals and scammers.

So it's very important and I think this is the number 1 thing that every crypto investors need, educate themselves on every project that they put their hard earn money. And as we have said before, “If it is too good to be true it probably is". Meaning, if the offer appear too ideal or promising, it's wise to approach them with a degree of skepticism and investigate further.

[Orpichukwu]

I know this topic might have been discussed a couple of times on the forum but I just want to emphasize it because of the trend I've been seeing on social media. I have been seeing a lot of crypto influencers advertising shit coins and other crypto projects. Even influencers who know nothing about crypto advertise crypto projects.

The topic has been discussed so many times here on the forum and outside the forum, and just a few minutes ago, a similar one was also created to warn users of the danger that might come afterwards.
 
To me, it's worth the discussion as something that is often discussed is good to refresh the memory of others about that issue, and there might have been many who have not seen such threads before due to their being new in the forum and others who might have disregarded the information as outdated. But what's most important is that you are passing on vital information that should be taken seriously, as the rate of crypto scams this season is going to increase and many victims will be recorded if time is not taken.
 
One thing is to create awareness of these scams, and another thing is to ask if these newbies in crypto who actually need to read about them will find the information educational, as it appears that most of them only come to this forum when they have successfully been scammed.

[SquirrelJulietGarden]

With the SEC's approval of Bitcoin spot ETF and with the next Bitcoin halving around the corner, we will most likely witness a bull run that has already begun.
According to research, crypto scams flourish during bull runs.

It's good to invest but do it wisely and with the right knowledge. Make sure to carry out your own research before buying any coins.

Scam exists anytime in any market but it's true that in a bull market, new projects will be created with their smart contracts to scam investors.

You can use a combination of Coinmarketcap and Wayback Machine to check how many cryptocurrencies exist with each year.

2017 https://web.archive.org/web/20171231045102/https://coinmarketcap.com/ with 1514 cryptocurrencies
2018  https://web.archive.org/web/20181231023300/https://coinmarketcap.com/ with 2094 cryptocurrencies
2019 https://web.archive.org/web/20191231050641/https://coinmarketcap.com/ with 4986 cryptocurrencies
2020 https://web.archive.org/web/20201231174111/https://coinmarketcap.com/ with 8153 cryptocurrencies
2021 https://web.archive.org/web/20211231022251/https://coinmarketcap.com/ with 16224 cryptocurrencies
2022 https://web.archive.org/web/20221231010102/https://coinmarketcap.com/ with 22156 cryptocurrencies
2023 https://web.archive.org/web/20231231005016/https://coinmarketcap.com/ with 2M+ cryptocurrencies

Find old cryptocurrencies, Proof of Work if you want safety. If you are greed, want to find hidden gems, you must know that many of them are hidden scams too.

[Ahli38]

In the Bullrun market, I actually saw it not only because many fraudsters appeared. But because there will be a time when crypto hype peaks and will also attract many beginners or people who are new to crypto. Because usually the FOMO wave is also followed by many people who are also interested in crypto. And many of them also do not have sufficient literacy or insight. Because not all beginners want to be patient and do research first before entering into crypto investment. Because sometimes more people enter crypto just because they are attracted by the ongoing hype and they want to get the same profits as crypto holders who have survived since the beginning and even since the bear market. And these new adopters will usually be targeted by fraudsters. And last season, Ponzi schemes emerged. So it's not surprising that this season will be the same. More altcoin projects will also emerge and indeed most of them create projects only to be pumped and then thrown away and abandoned. But I'm sure that in this bull run market, knowledge about crypto will spread more widely. So it is also easier for beginners to learn and avoid fraud. And actually a topic like this is also needed to warn beginners of the dangers that exist in a bull run market that come from fraudsters who will target beginners. I'm not worried about novice users on this forum. But it's the beginners outside the forum who are actually more vulnerable.

[Majestic-milf]

 It should not surprise you because everyone would be looking to gain more than the next person and scammers know this and will want to take advantage of the gullible ones and just like you mentioned that people fall easily because of their greed, I'd say some are victims of such scammers because they do not really have a background knowledge of Bitcoin and are too lazy to do their research.
 Of course during the bull season, the market is busy and Bitcoin looks more appealing to investors then but what many fail to grasp is that where there are promises of high turnover or profit with no side effects or losses, there's bound to be a catch. Fomo usually blinds most of these victims and they end up falling for scammers.

[Bushdark]

The Bitcoin ETF has started making the price of Bitcoin to flourish and very soon we may start seeing different crypto scam and fake cryptocurrency projects in the market. This is time when we have to invest wisely because there will soon be lots of scam in the market just like it happened in 2017 when there were different Ponzi schemes in the market making many investors to lose there funds because they thought it was the right decision for them. We might see something similar this season but might also be in different forms.

[Dr.Bitcoin_Strange]

Acts of greed and lack of proper knowledge are what lead most crypto newbies to fall victim to some of those cheap scams. Those who have years of experience in the crypto industry may not be victims because they have studied and have also learned from the experience of other victims.

Cryptocurrency is not a get-rich-quick scheme. Because of this conviction, most people feel it is right to believe that crypto can pump and make them overnight millionaire. They can see a project that offers to give them a huge APY (annual percentage yield), and because of how attractive the offer might be, they will end up investing in such a token.

There was a thread I came across last week; I can't find the thread again. The OP was actually saying that if an investor always handle every crypto investment offer as a suspected scam, they will not easily fall victim to scammers. In essence, I would say that everyone should be very conscious of their investments and holdings during this period.

[Jegileman]

Scammers are always in the market but they always wait for the right time to release their fake scam projects at the time when people are vulnerable to buy them. Times like this are when this people will want to release fake projects thereby luring and deceiving people into buying their fake tokens with enticing offers. Beware of crypto scams, it has render many people lose all of their hard earned money after investing in them. No matter how good a project looks and is showing a lot of potential to make it in the market, always conduct a thorough research as it won’t cost you anything to know the risks to what you’re trying to invest into. These are good times in the market and also a time where many fake projects will be released, be careful not to fall victim of the unknown.

[Dunamisx]

Scam have always been and this doesn't have to do with wether we are on the bullish or bearish season before such is being felt by the crypto community, we must just be very careful of not allowing ourselves fall under their trick whenever they are using occasions like this to perpetrate evil, we should know that scam is real and they try to use the only most trending avenues to launch their crooked ways aiming at those that will not be that sensitive on some of their tricks.

[Churchillvv]

This is common in every industry, not just the crypto space, where scammers tend to use the trends to exploit newbies (beginners in every industry) who are willing to invest in such trends, maybe as a result of hearing testimonies of people who succeed with them. One thing is very certain: no enlightened person who has good knowledge of the crypto space will fall victim to such a scam, except that person who is just willful to throw away some money even after knowing the truth.

As it has been said earlier, what derives such action could be greed. Yes, most people missed out on Bitcoin when it was first launched and thereby misconcepted Bitcoin to every other shitcoin that promises some too good to be true results. Hence, due to greed investors invest in them hoping to reap good returns as those who have held Bitcoin since day 1. One thing I'm convinced of is that this scam project has already existed for like months now, just waiting for moments like this to shout their shots.

[Antotena]

With the SEC's approval of Bitcoin spot ETF and with the next Bitcoin halving around the corner, we will most likely witness a bull run that has already begun.
According to research, crypto scams flourish during bull runs. This may because the increase in price makes it easy to convince people and greed and FOMO are also other factors that make people to be easily deceived.

The way crypto teams are innovative with ideas, so does scammers. When Elon dedicated his time to Bitcoin in the last bull run, there were lots of impersonation about Elon give aways. I literally got tired of Elon giveaways scammers because they just didn't stop. Don't be surprised if you see Gary Gensler becomes the new trend for scammers to get the attention of the newbies into crypto and the painful part of that, people always fall for them at any opportunity.

Bullrun has money, lot of colleague of mine made money last bullrun and I also know some of them that lost money because they weren't inform, the only thing they hear others discuss is I bought that and I got profits, I did this and that but they didn't ask how and where not to, that's how some of them dash away the money they couldn't even invest into the hands of scammers and this scams where even the cheapest but all was because of lack of information.

[Stepstowealth]

It's good to invest but do it wisely and with the right knowledge. Make sure to carry out your own research before buying any coins.

When you explain the bull run to someone who is new to cryptocurrency they get really excited by the thought of making massive profits from cryptocurrency investments. These kind of people do easily invest in new cryptocurrency, it's usually easy because they know that a bull run is coming and that all alt currency have a chance of being affected by the surge in price of bitcoins so they become more willing to invest in altcoins sometimes, even without taking time to do their personal research which we will usually end them in regrets. Bitcoin remains the best choice to invest and caution should be taken while investing in new cryptocurrency because scammers are also active these period, so that they can gain at least more bitcoins before the bull run kicks off proper.

[Hyphen(-)]

Rug pulls and ponzi have been among the most popular forms of scams in these periods.
Some scammers come in the form of traders or trading companies and convince people to invest with them. Don't be naive.
One thing you should know is, if the offer is too good to be true, it's most likely a fraud. Traders don't control the market so no trader can guarantee you an unbelievable profit. They can't deliver those juicy offers they offer.

Ponzi schemes and rug pills are some of the outdated scams that almost everyone is aware of, and scammers will not use them this time because they know they will not give them enough victims.

Scammers are always in the crypto space, but they always have targets for bull run seasons because they are very sure that people with no knowledge about cryptocurrency will rush into cryptocurrency due to FOMO. Scammers will give them sweet offers that will convince newbies with no experience. As a newbie who is willing to make money from cryptocurrency, they will tend to accept serious offers that will promise them a high return because of their greed and willingness to make quick profits.

This thread will serve as a reminder for our newbies in the forum to be careful, know the right channel to invest in, and avoid being greedy.

[Vaculin]

Although crypto scams are also happening when the market is bearish, but I really think that it's more possible when the market is experiencing a bull run. Probably because the market is very bullish and that everyone will expect that all good things will happen, and that's where scammers will also take advantage of the market by deceiving newbies and naive investors to invest or trade in their own scam projects.

Bull run is not only the best time to profit but it's certainly where people are also highly susceptible to losses as scamming is also rampant that time.

[Issa56]

According to research, crypto scams flourish during bull runs.

Crypto scams flourish both during the bull run and bear run markets. Scammers are always changing strategies when there is a bull run, but we should know that people are being scammed both during the bear and bull run. When it comes to bull run, you will see lots of coins entering the crypto space. That’s when you see scammers taking advantage. You will find it difficult to identify real coins and scam coins. You will never believe some coins are fake after doing research about them. That’s why we should be careful when investing in new projects, because you are likely going to invest in scam coins.

Rug pulls and ponzi have been among the most popular forms of scams in these periods.

Yeah, you are right, rug pulling is a scam that is very popular during the bull run. Any coin with too much hype, don’t be surprised if they end up rug pulling. But the Ponzi scheme is even more popular during the bear market. Lots of people will have lost a lot of money, and they will be desperate to find a way to recover from their losses. If they are being introduced to any Ponzi scheme and they are being brainwashed that they will get a high reward without risk, most people will end up diverting funds there.

Some scammers come in the form of traders or trading companies and convince people to invest with them. Don't be naive.

Everyone does claim to be a professional trader when there is a bull run. We are soon going to start seeing different signal providers, we just have to be very careful. Most of them are just scammers trying to get from people. Don’t believe anyone that claims to be a signal provider. If you want to trade, learn to do your analysis yourself and trade, don’t depend on anyone.

[Nheer]

According to research, crypto scams flourish during bull runs. This may because the increase in price makes it easy to convince people and greed and FOMO are also other factors that make people to be easily deceived.

During periods like this scammers tend to utilize the opportunity of the increase in demand for crypto projects and come up with varieties of techniques just to lure victims. This is the period where most investors are eager to invest in any project due to the Fear of Missing Out and so scammers make use of this opportunity. It is more like the market days for crypto investors so as we are all getting ready for gains scammers are also devicing their means to make money because it is during this period that people are easily caught off guard.

Rug pulls and ponzi have been among the most popular forms of scams in these periods.
Some scammers come in the form of traders or trading companies and convince people to invest with them. Don't be naive.
One thing you should know is, if the offer is too good to be true, it's most likely a fraud. Traders don't control the market so no trader can guarantee you an unbelievable profit. They can't deliver those juicy offers they offer.

This scamming technique is getting old that when i still see people fall for this trick it pisses me off, like how can i just expect free money from some random company without working for it. It sounds ridiculous, no one has any free money to offer you so we need to be careful and take note of that. I’d rather see someone fall for rug pull scams or fall for fake projects as a s result of not carrying out the necessary research before investing.

It’s all not good though, we should be careful in this time of the market because the percentage of scammers active in the industry usually increases by a whole lot during these times.

[Adbitco]

Side note: Try not to keep your investment in an exchange. Make sure to keep them in a noncustodial wallet.

upto this point you think we have people here that still their investment in exchange account? This is impossible to believe with the high rate of which everyone keeps saying of not your key not your coin and people will be so dom to keep their coin in exchange. Well there is nothing to argue because I believe there are people who are not in anyway connected to this forum that may not have that idea to move there coin from exchange to a non-custodial wallet.

[Mpamaegbu]

Traders don't control the market so no trader can guarantee you an unbelievable profit. They can't deliver those juicy offers they offer.

I love that part. It's the nutshell in your post. I've always maintained that too. It's sad that many people don't think of investment from that angle. They think some other dudes can preempt or determine the market to give them certain ROIs. No one can determine what the market does. We're at best speculators and the market is the master. The earlier people know that, the better for them.

I know this topic might have been discussed a couple of times on the forum but I just want to emphasize it because of the trend I've been seeing on social media. I have been seeing a lot of crypto influencers advertising shit coins and other crypto projects. Even influencers who know nothing about crypto advertise crypto projects.

Like someone said, the bull season is a time for bullshit 😏. We've to expect all manners of nonsense and worthless projects coming to the market now than they did a few months ago, and many more will come a few months from now. It's the pattern every circle.

[LogitechMouse]

~
It's good to invest but do it wisely and with the right knowledge. Make sure to carry out your own research before buying any coins.

Side note: Try not to keep your investment in an exchange. Make sure to keep them in a noncustodial wallet.

Nah, forget about researching. Just invest into Bitcoin, and you're good to go.

Kidding aside, whenever I want to re-allocate my funds, or when I want to invest into other altcoins, I always spend hours researching because it will help you decide whether it's a good investment or not. Of course you can't research on other altcoins if you don't have knowledge yourself on what you're doing so better gather some knowledge first that will help you.

More scammers emerge during the bull run because many investors are excited about investing into different coins. There's a famous quote and that is "When emotions are high, intelligence is low." This is the reason why some people are getting scammed. They're too excited that they forget if that investment is legit or not. Be vigilant, be aware, and always look if the website you're browsing is the official website. Scammers, and phishing websites are the most common ways of getting funds from other investor, but it works.

With regards on your side note, I don't usually store my funds into an exchange, but for sure there will be some that will store it there. Why? So that they can sell it faster.