Potential Scams to Watch Out For in the 2024 Bull Run!

[pakhitheboss]

Hey! newbie community,

With Bitcoin trying to create a new ATH and in the current market condition, there would be an influx of new members on BTT. As a newbie, you are prone to get caught in unrealistic offers here and with new projects that will sound extremely profitable. I have been a member of this forum for approximately six years. During this time, I have observed numerous scammers becoming active whenever the market is experiencing a bull run. To prevent newcomers from losing their investments, I decided to share some of my experiences.

In the current market conditions three most common and effective scams you will encounter. These three scams are so effective to date that scammers tend to use it whenever they see the market is in a bull run and would use them for their benefit.

• Pump-and-Dump schemes
• Fake news and FUD
• Rug pulls

There are numerous topics about these three scam techniques within the forum and also available on Google. If you want to know what they are then copy the sentence and search as it does not make any sense for me to again go through them here. What I am interested is providing you with newbies to identify such scams. Let's start with the first one and then we will discuss the others one by one.

Pump-and-Dump schemes

They are not something that any newbie should focus on as it will get you destroyed if you believe in them. The scammers would first invite anyone to join a channel on telegram where they will show how much gain every joined user has made. If you do join the channel and see such a user and then view their profile you would 90% of the time you would find it to be a user telegram bot. All you would need to do is to check the username and you will not find it. You will see the info with the username which means it is a user bot. Stay away from such telegram channels or WhatsApp channels that give unrealistic hope and promise good gains.

Fake news and FUD

Beware of news circulating in social media and chat groups as they are always dangerous. It is imperative to verify any news coming out from those networks and those circulation in the mainstream media. I have seen how bad it can be in the 2021 bull run and do remember that influencers are not gods or people you can follow blindly it is better to do checks before believing in them or anyone. One simple task you can do is follow the social media handles of cryptocurrencies where you have invested and check with mods of those platforms whether the news is correct. Remember fear, uncertainty, doubt, and fear of missing out is the biggest reasons a newbie incurs a loss in cryptocurrency investment.

Rug pulls

Another devastating scams involve developers abandoning a project after taking investor's funds. Be cautious of projects with anonymous teams or unaudited smart contracts or a new shit coin project wherein you trying to ride the hype will lose everything. It is again important to check the project papers and roadmap to assert that the new project is good for investments. However, it is risky as there are new projects with a lot of promises that have done this scam without much effort.

Let's keep the conversation going if the senior members and above think there should be more that should've been added to this topic please reply. I might have missed something.

Thanks.

[1715095376]

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[1715095376]

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[Wakate]

The pump and dump scheme and new projects launching without any plans of staying longer in the market is something we need to watch out for. There are many new projects shooting out of nowhere trying all means to entice investors to invest so they can crash the project after making some profits. These are not new methods used in the market to get money and expenses spend on the fake project. There are other things we need to consider before we invest in any new projects because many investors would lose their funds because of greed or getting fast profits by investing in get rich scheme projects. It is better for us to keep investing in known projects than new ones that would not last in the market.

[hd49728]

One scam I want to warn newbies.

Stay far from platforms that give you high APY like 15%, 20%. An example is the collapse of Terra and its stable coin UST in 2022.

The Reign of Terra: The Rise and Fall of UST/

There are many new platforms in DeFi promise users with high APY like that or even higher. See what happened in the past and be cautious with their promise and self-protect your capital.

[I_Anime]

tPump-and-Dump schemes

this one is pretty common especially for those that have the mindset of getting rich overnight , due to the high return they would make from the token they would neglect the risk attached to it (that why in this space one need to be cautious) , and one thing about this token is that they have no purpose, and developers aim is how they would make some short-term profit through the token , and once the token pump they quickly sell , causing that  particular coin to dump and those that invest on it hoping for a long-term Profits, their funds would endup dumping with the coin.

Fake news and FUD

We most time find such on social media like Twitter and YouTube then the others. You would see an individual speculating about particular coin expecially shitcoins , without them having much Idea about this space, misleading others because their aim is to get more reactions and views  on their posts .  Because that where they normally get there money from, while some newbies who are new in this space would carry their hard earns and invest in that same coin and most time market won't move their way and they may endup with losses.

[cryptoaddictchie]

Rug pulls

Another devastating scams involve developers abandoning a project after taking investor's funds. Be cautious of projects with anonymous teams or unaudited smart contracts or a new shit coin project wherein you trying to ride the hype will lose everything. It is again important to check the project papers and roadmap to assert that the new project is good for investments. However, it is risky as there are new projects with a lot of promises that have done this scam without much effort.

Yes this is a must unless the person is a total degen or a risk guy that ape into any shitcoins out there. This isnt bad if you arent scared and okay to lose but for newbies who are starting to invest they should avoid any of this. I am doing some of these but I advise others not to try cause this is a risky one and the return is not guaranteed. Well Id earn from some of these but I know that my money is at staked whether I lose or not. Memecoin or shitcoins are good profit makers but the damage it left from late investors or trender will make their capital gone or close to zero.

[Mpamaegbu]

Pump-and-Dump schemes

They are not something that any newbie should focus on as it will get you destroyed if you believe in them.

This is something newbies don't like to hear and that's why they keep repeating the same mistake all the time! Even among high ranked members here, there are those who still belong to such groups and they call themselves degen hunters. I've closely monitored a few of these groups and have come to realize that most of them just pick a shitcoin, buy enough quantity of it before exposing it to the group. That's their modus operandi. Newbies should avoid them at all cost for the peace of their mind.

[PX-Z]

The pump and dump schemes or signals are only for newbies hunting scammers, most experienced traders/users does not use them. But these experienced users sometimes got fooled by new promising project on bull run then it will be dropped by the team later on, or just scheming its investors, it's always about them on bull run, nothing new about them.

[Ndabagi01]

The pump-and-dump scheme is most common during a bull market. Many newcomers and old investors will be looking forward to making a large profit on their small or large investment in those coins. While many things do not go as planned, a few do, and if they neglect their greed, they can make a fortune. It is essentially a risk-taking game in which the smartest players always win.

This is a scam that cannot be taken away and it’ll be prevalent this bull run too. Do your own research to ensure the safety of your coins, or better yet, invest in a cryptocurrency that is worth investing in rather than a pump and dump that will cause you to lose all of your money at once.

[tabas]

Don't forget about the fake airdrops and giveaways. Many are still becoming a victim of these schemes because they think that it's not going to spend them money. But with such airdrops and giveaways, many of these scams are wanting the participants to spend for gas fees and on top of that, there's a probable commission from them. That is why I am not fond of these because those that have a high risk appetite are the ones participating with those and sometimes, out of ignorance, there are victims that are even filling out forms and they voluntarily give their private keys as if it's really a requirement.

[Zaguru12]

This is something newbies don't like to hear and that's why they keep repeating the same mistake all the time! Even among high ranked members here, there are those who still belong to such groups and they call themselves degen hunters. I've closely monitored a few of these groups and have come to realize that most of them just pick a shitcoin, buy enough quantity of it before exposing it to the group. That's their modus operandi. Newbies should avoid them at all cost for the peace of their mind.

Degen hunters are people I consider as gamblers to me they are worse than future traders in terms of risk management. They just go in on low Market cap tokens on a trending ecosystem. Right now this degen hunters are mostly common on memecoins since that’s where the easiest 100x comes from. The best place to find them is on X platform shilling their projects or projects they have bought and want more investors so they could pull out. If they managed to get a one coin that pumps they spread that narrative and this lure many gullible people into following their future calls. To me this type of scam can never be eliminated as long as one of this coins pull through.

Don't forget about the fake airdrops and giveaways. Many are still becoming a victim of these schemes because they think that it's not going to spend them money. But with such airdrops and giveaways, many of these scams are wanting the participants to spend for gas fees and on top of that, there's a probable commission from them. That is why I am not fond of these because those that have a high risk appetite are the ones participating with those and sometimes, out of ignorance, there are victims that are even filling out forms and they voluntarily give their private keys as if it's really a requirement.

Airdrops are all on the raising at the moment and although some pays it is like a waste of resources to me. I am not even much worried about those that loses money on gas fees but Scammers easily get people through this airdrops by giving them phishing links to connect their wallets to and they end up wiping out large amounts of their funds. It is also something I don’t think can stop but my only advice is use a different device and a burner wallet.

[Gladitorcomeback]

Airdrops are all on the raising at the moment and although some pays it is like a waste of resources to me.

We cannot judge anything properly until we enter byself and research on all aspects. I was thinking same like you but now I am entered in the world of airdrops for more than six months and believe the Airdrop rewards is much more than our expectations. One single project will give you more than 10k if you fulfill all criteria of airdrops. If we farm more than 10 projects at a time then you can guess the profit.

I am not even much worried about those that loses money on gas fees but Scammers easily get people through this airdrops by giving them phishing links to connect their wallets to and they end up wiping out large amounts of their funds. It is also something I don’t think can stop but my only advice is use a different device and a burner wallet.

Yes spending gas fee is not a big problem and honestly I think there should be spending fee in all airdrops to restrict the airdrop hunters to use multiple accounts. I have joined telegram group where people using more than hundred account for one airdrop. wheen any airdrop have a gas fee spending mechanism,it will restrict such peoples to use maximum 2-3 accounts.

Yes Airdrop wallet should not be used as a Main wallet and only contain small fee for all network.. Airdrop hunters should not be in hurry to claim first but wait for other people comments. sometimes project social platform got hacked and hackers sending scam site to claim token and hunters using main wallet to claim which causes wallet drain.

[Luzin]

Perhaps you should be wary of crypto influencers who claim to be crypto experts who appear during bullruns. Yes, there are many people who claim to be experts, but they are only using it for their own benefit. So beginners must be well aware that when they join there are many threats that are ready to provide losses for them. They lie about being experts and give advice, in the end they only become victims of the disposal of the influencer team.

[Barikui1]

Hey! newbie community,

With Bitcoin trying to create a new ATH and in the current market condition, there would be an influx of new members on BTT. As a newbie, you are prone to get caught in unrealistic offers here and with new projects that will sound extremely profitable. I have been a member of this forum for approximately six years. During this time, I have observed numerous scammers becoming active whenever the market is experiencing a bull run. To prevent newcomers from losing their investments, I decided to share some of my experiences.

In the current market conditions three most common and effective scams you will encounter. These three scams are so effective to date that scammers tend to use it whenever they see the market is in a bull run and would use them for their benefit.

• Pump-and-Dump schemes
• Fake news and FUD
• Rug pulls

There are numerous topics about these three scam techniques within the forum and also available on Google. If you want to know what they are then copy the sentence and search as it does not make any sense for me to again go through them here. What I am interested is providing you with newbies to identify such scams. Let's start with the first one and then we will discuss the others one by one.

Pump-and-Dump schemes

They are not something that any newbie should focus on as it will get you destroyed if you believe in them. The scammers would first invite anyone to join a channel on telegram where they will show how much gain every joined user has made. If you do join the channel and see such a user and then view their profile you would 90% of the time you would find it to be a user telegram bot. All you would need to do is to check the username and you will not find it. You will see the info with the username which means it is a user bot. Stay away from such telegram channels or WhatsApp channels that give unrealistic hope and promise good gains.

Fake news and FUD

Beware of news circulating in social media and chat groups as they are always dangerous. It is imperative to verify any news coming out from those networks and those circulation in the mainstream media. I have seen how bad it can be in the 2021 bull run and do remember that influencers are not gods or people you can follow blindly it is better to do checks before believing in them or anyone. One simple task you can do is follow the social media handles of cryptocurrencies where you have invested and check with mods of those platforms whether the news is correct. Remember fear, uncertainty, doubt, and fear of missing out is the biggest reasons a newbie incurs a loss in cryptocurrency investment.

Rug pulls

Another devastating scams involve developers abandoning a project after taking investor's funds. Be cautious of projects with anonymous teams or unaudited smart contracts or a new shit coin project wherein you trying to ride the hype will lose everything. It is again important to check the project papers and roadmap to assert that the new project is good for investments. However, it is risky as there are new projects with a lot of promises that have done this scam without much effort.

Let's keep the conversation going if the senior members and above think there should be more that should've been added to this topic please reply. I might have missed something.

Thanks.

I actually think that almost all that you mentioned her are quite associated with alt and shit coin, because if you are a Bitcoin investor that is investing only on Bitcoin, you wouldn't be bothered by any sorts of Fomo, Fud, rug pull and pump and dump, because all of this have nothing to do with Bitcoin, it's all have the trade mark of shit coin and alt, so to me, the best way of avoiding such, especially in this particular period that we are now is to invest only on Bitcoin, to be at the safer side.

And another thing is that, it's quite normal this days that in every bull season, scammers are always looking for someone or something to prey on, and it's mostly newbies that falls for them easily, so I would advice our newbie to thread with caution, and stay away from any coin that is not Bitcoin, until they are knowledgeable enough to navigate their way easily, without being deceived by scammers.

[Outhue]

I actually think that almost all that you mentioned her are quite associated with alt and shit coin, because if you are a Bitcoin investor that is investing only on Bitcoin, you wouldn't be bothered by any sorts of Fomo, Fud, rug pull and pump and dump, because all of this have nothing to do with Bitcoin, it's all have the trade mark of shit coin and alt, so to me, the best way of avoiding such, especially in this particular period that we are now is to invest only on Bitcoin, to be at the safer side.

And another thing is that, it's quite normal this days that in every bull season, scammers are always looking for someone or something to prey on, and it's mostly newbies that falls for them easily, so I would advice our newbie to thread with caution, and stay away from any coin that is not Bitcoin, until they are knowledgeable enough to navigate their way easily, without being deceived by scammers.

Are you saying that all we need is just Bitcoin? I think this is only best for beginners who have not too many knowledge about crypto yet, if they feel like they are running out of time it's better that they invest only in Bitcoin, because it is way safer and less complicated unlike other altcoins.

But let me tell you the truth, I was able to acquire 30% more Bitcoin because of altcoins, many alts that I have bought since 2022 have done so well than Bitcoin itself, one did 20x in a period of six month of holding, I took 80% of the profit and buy more Bitcoin, this is one of the way it's done, if you don't know, you should know it now.

I know that altcoins are high risk investment than bitcoin, but lack of knowledge is why many things are happening to people in altcoins than Bitcoin, but the insane return of investment belongs to altcoins.

[Lida93]

One scam I want to warn newbies.

Stay far from platforms that give you high APY like 15%, 20%. An example is the collapse of Terra and its stable coin UST in 2022.

The Reign of Terra: The Rise and Fall of UST/

There are many new platforms in DeFi promise users with high APY like that or even higher. See what happened in the past and be cautious with their promise and self-protect your capital.

There has been series of warning before now and more will be made as we go on but do the newbies really do take them into account, I don't really think so. Because if they do we won't be getting complain and another about scams related to this warnings as given.

What I perceive about newbies is that there newbie nature pushes them to want to test new waters ignoring all delicate warnings by believing that they might have to different experience benefiting to them. But how possible is that when dealing with a scam project, you can't be faster than the project owners, the story and experience will always be same.  A story of a defenceless prey and attacker because they have all the tools and resource needed to win.

[tabas]

Don't forget about the fake airdrops and giveaways. Many are still becoming a victim of these schemes because they think that it's not going to spend them money. But with such airdrops and giveaways, many of these scams are wanting the participants to spend for gas fees and on top of that, there's a probable commission from them. That is why I am not fond of these because those that have a high risk appetite are the ones participating with those and sometimes, out of ignorance, there are victims that are even filling out forms and they voluntarily give their private keys as if it's really a requirement.

Airdrops are all on the raising at the moment and although some pays it is like a waste of resources to me. I am not even much worried about those that loses money on gas fees but Scammers easily get people through this airdrops by giving them phishing links to connect their wallets to and they end up wiping out large amounts of their funds. It is also something I don’t think can stop but my only advice is use a different device and a burner wallet.

It's not just actually about the gas fees and potential scams that will put your effort into waste. But once you obliged and verified as required by many of them, there's a big chance that your identification will be sold on some other markets where they'd probably sell that. Only these scammers and cons are the ones taking advantage of the participants and that's why I don't join any of them. IMO, it's just pure luck when someone gets to have a decent reward with these airdrops and if they happen to be profitable with it, then I am happy for them but I'd avoid the majority of them.

[Mpamaegbu]

~

Degen hunters are people I consider as gamblers to me they are worse than future traders in terms of risk management.

Yes, they're. It's blind investment approach, especially when the trader isn't an insider to the project or has someone who is and who tells them what's happening in there so they can better take and made an informed decision.

By the way, everything in life is about risk. It's a struggle out there and only the prudent and shrewd guard themselves judiciously from scammers in this industry.

[Myleschetty]

The pump and dump schemes or signals are only for newbies hunting scammers, most experienced traders/users does not use them. But these experienced users sometimes got fooled by new promising project on bull run then it will be dropped by the team later on, or just scheming its investors, it's always about them on bull run, nothing new about them.

The pump and dump with the signal provider scam is not only for newbies. For the record, memecoin investors are also the prey of the pump dump scam because the meme coin market is where most whales play their pump dump game while they divert the profit into Bitcoin.

[albon]

Thank you, OP, for your constructive contribution here. Any beginner can avoid falling into the potential scam schemes of scammers by knowing the common fraud methods, techniques, and tactics used by scammers well and how to deal with them if encountered. Indeed, there are numerous scam operations, and those with malicious intentions do not stop developing their weapons to lure victims. Rug pulls are one of the most effective methods they use. With the increase in the new investor sentiment in the bull market and their desire to make profits through new currencies, scammers seize the opportunity to create these RugPulls coins with malicious contracts and list them on DEX platforms, providing links and instructions on buying them.

With Bitcoin approaching halving. Scammers send messages containing phishing sites to investors, offering them the opportunity to win 1BTC after connecting their wallets and guessing the price of Bitcoin at the time of halving. I can also add that beginners should not trust entirely in emails, and they should check before opening any hyperlinks and not connect wallets to suspicious sites. Moreover, attention should be paid to artificial intelligence, as they should not trust everything they see, hear, or read. AI can easily fabricate anything and can be misused by scammers to increase the rate of fraudulent activities.

[BABY SHOES]

As long as there is a bull market, fraud will increase and it is up to us to be aware of these indications.

I will tell you a little about my friend whose wallet was drained by the X.com fake news by connecting the metamask wallet to a phishing site similar to the official one.

It started when he joined a certain project by following a long testnet but on that day the project's X account tweeted about the distribution of eligible tokens but had to connect to the metamask wallet first, but he thought about connecting and then after that there was a notification that his Ether was sent to himself with around $ 1237, of course he was weak because this was his first time getting a drainer.

After being investigated through the official discord that their X account was hacked and from this incident no one is responsible except self-awareness.
It is true that scammers will continue to spread phishing links on X with accounts that have blue or yellow ticks.

[arwin100]

Pump-and-Dump schemes

They are not something that any newbie should focus on as it will get you destroyed if you believe in them.

This is something newbies don't like to hear and that's why they keep repeating the same mistake all the time! Even among high ranked members here, there are those who still belong to such groups and they call themselves degen hunters. I've closely monitored a few of these groups and have come to realize that most of them just pick a shitcoin, buy enough quantity of it before exposing it to the group. That's their modus operandi. Newbies should avoid them at all cost for the peace of their mind.

Because they always think that there's always easy way for them to earn and if they just spot the shit coin that pump x1000 times then they became rich easily for that. But they forgot to realize how hard to spot those kind of token perform that huge and for sure they go broke first for a lot of scam they encounter before they found that what they called gem on those shitcoins.

So its better for them to take all easy on each investment they made especially for those shitcoins since for sure this will be the common thing will exist especially now the bull run is approaching and we already see a lot of meme token rise and other play to earn scam games release because they know a lot of people will seek an opportunity to earn and that is perfect time for scammers to deceive a lot of people so we need to be aware and careful on those scams.

[AVE5]

Hey! newbie community,
Let's keep the conversation going if the senior members and above think there should be more that should've been added to this topic please reply. I might have missed something.

Thanks.

How ignored I as a just member is and not recognized to contribute to this thread but senior members and above are. 😢.
But if you permit me Op and other senior members here, I'd in after all being outlined in addition  to say that we should be very more careful with the exchange platform and the wallets in used in our holdings.
While trading during our assets during the bull run epic, let's be watchful with some phishing ADs which pops on the exchange platform during trading because some of them are malicious and could redirect you from your intentions and if it's not well observed, you may befalling on fraudulent deceptives probably with over hype and untrue high exchange rate.
Be aware that this significant could even happen in a reputable exchange.
So let's stay alerted that scammers are hovering and invading every angles to scam who maybe a victim.

[LogitechMouse]

• Pump-and-Dump schemes
• Fake news and FUD
• Rug pulls

If you're not new in cryptocurrency, you've probably seen these 3 scams that are being used by these scammers to scam newbie investors. While these 3 are some of the common ways, there are still some other ways that scammers are using.

1. Paid-task scam - I know that this isn't a popular way, but I'm thinking that they can use this to scam newbies. In this way, scammers will be giving tasks to a newbie and they will get paid. The catch is, in order for the newbie to get those money that he earned through doing tasks, they need to deposit money into their website. In this way, they might use Bitcoin to lure those newbies. They might be using Bitcoin to "fake" pay these ignorant newbies.
2. Meme coins - I know, I know that there are some meme coins that are now popping up out of nowhere and that's where the problem is. Since meme coins are getting hyped, some scammers might use the opportunity to scam newbies. Scammers will create a meme coin, market it to the public, collect the money then go away. Same with rug pull basically, but this is by using meme coins since it's currently hyped. At least you know how it is.
3. Investment scams - The most popular way scammers are using to scam new investors, but many are still falling for it. There's no need for an explanation for this as we know how this works already. Scammers will lure you to invest to their "project" which will be turning into a scam project when they get enough money.

There are many ways that scammers are using to scam people. The best thing for us to do is to watch videos online that can give us tips on how to know if that project is a scam or not, and asking here in the forum as well.

[Miles2006]

I think things like this are commonly seen in the altcoin section especially the new tokens, pump and dumb scheme commonly referred as hype and from what I have seen during this bull run mostly last week, people on twitter and other social platforms going crazy just for airdrops and giveaway a more are yet to come but it's best to stay smart. Let's not forget about different links everywhere during this period trying to lure people with the mindset of earning quick money and after clicking those link and go ahead to share your personal information it's finished. Secondly, this is the time fake exchanges are created and creating of fake websites for withdrawal and they might end up blocking the site, that's why it's not advisable to save your money in an exchange. Lastly, we see a lot of celebrity promoting scam projects unknowingly to them and people still intend to invest without making research, advertising a coin using an influential celebrity just to create FOMO, this is just common with altcoins.

[Y3shot]

The pump and dump scheme and new projects launching without any plans of staying longer in the market is something we need to watch out for. There are many new projects shooting out of nowhere trying all means to entice investors to invest so they can crash the project after making some profits. These are not new methods used in the market to get money and expenses spend on the fake project. There are other things we need to consider before we invest in any new projects because many investors would lose their funds because of greed or getting fast profits by investing in get rich scheme projects. It is better for us to keep investing in known projects than new ones that would not last in the market.

Greed as always been the main reason why so many people lose their money in new project just to make money by all means. New project are very risky and it is not what needs to rely on. Since cryptocurrency is very risky to invest in it will be better people should go after known crypto to invest on than choosing the new projects that one is not even sure if it is reliable.  Many new project we have in the market now are scam projects.

[CryptopreneurBrainboss]

In the current market conditions three most common and effective scams you will encounter. These three scams are so effective to date that scammers tend to use it whenever they see the market is in a bull run and would use them for their benefit.

• Pump-and-Dump schemes
• Fake news and FUD
• Rug pulls

You can't see a pump and dump scheme with Bitcoin, you'll only see the market increase and decrease based on the mood of the market and you aren't totally at lose when Bitcoin decrease because the price will definitely rise back after the corrections. Fake news and FUD are experienced by Bitcoin investors but if you don't allow the news to determine what happend to your Bitcoin bags you won't be affected.

Rug pulls aren't things that can happen to you as a Bitcoin investor so if you want to stay safe and free from all what OP mentions, avoid investing in altcoins and keep accumulating Bitcoin. When you invest into Bitcoin you won't have to be watchful for that much scams in the market,l because you'll be valuable to the scams that usually dominate the bear market. As you secure your Bitcoin firmly and you won't be among those falling a victim to the scams that'll be dominating the bull market.

Altcoin are where the scammers are concentrating as they know alot of ignorant investors will be, since they're all searching for the next crypto to pump so they're easy targets to scam.

[Hyphen(-)]

The pump and dump scheme and new projects launching without any plans of staying longer in the market is something we need to watch out for. There are many new projects shooting out of nowhere trying all means to entice investors to invest so they can crash the project after making some profits. These are not new methods used in the market to get money and expenses spend on the fake project. There are other things we need to consider before we invest in any new projects because many investors would lose their funds because of greed or getting fast profits by investing in get rich scheme projects. It is better for us to keep investing in known projects than new ones that would not last in the market.

Pump and dump projects have already taken up space and begun to extract money from unsuspecting and inexperienced beginners. These projects are now rampant in the crypto space, if you are not careful, you will easily lose money because when the coin is launched, it will look like a serious project that can guarantee you 20-30x, once you feel relaxed and give them a little trust, you will just wake up and see an empty wallet, but some people are becoming lucky if they understand the system, they will invest early and case out once they get a small profit, the gainers in such projects are not greedy.

[avp2306]

In the current market conditions three most common and effective scams you will encounter. These three scams are so effective to date that scammers tend to use it whenever they see the market is in a bull run and would use them for their benefit.

• Pump-and-Dump schemes
• Fake news and FUD
• Rug pulls

You can't see a pump and dump scheme with Bitcoin, you'll only see the market increase and decrease based on the mood of the market and you aren't totally at lose when Bitcoin decrease because the price will definitely rise back after the corrections. Fake news and FUD are experienced by Bitcoin investors but if you don't allow the news to determine what happend to your Bitcoin bags you won't be affected.

Rug pulls aren't things that can happen to you as a Bitcoin investor so if you want to stay safe and free from all what OP mentions, avoid investing in altcoins and keep accumulating Bitcoin. When you invest into Bitcoin you won't have to be watchful for that much scams in the market,l because you'll be valuable to the scams that usually dominate the bear market. As you secure your Bitcoin firmly and you won't be among those falling a victim to the scams that'll be dominating the bull market.

Altcoin are where the scammers are concentrating as they know alot of ignorant investors will be, since they're all searching for the next crypto to pump so they're easy targets to scam.

Those new investors just think about that this is happening on bitcoin since they don't really know what they are doing and just got anxiety attack when correction happen that's why most of them called bitcoin is dead since they just react at current dumping condition happening without look at the situation that this event normally happen that's why they lose.

If they are not investing to much on altcoin for sure they would never taught that rug pull exist on bitcoin and they will choose this one as their primary investment for long term and will ignore the idea of holding those shitcoins in the market since they would know that scams usually happened on that tokens.

Lots of scammers creating new tokens are spreading right now so they must be more careful on their investment and avoid getting hype with those new altcoins.

[KiaKia]

Watch out for bad links on every social media this days, no one is free from malicious link, they target Twitter the most but they are also on Telegram and Facebook, be careful what link you click, most of the time, its always us that gives scammers the access to our data and other information's without knowing.

Pump and Dump happens with altcoin investments, if you are a beginner and you have the passion for altcoin investment, do not look for them anyone, there are dozens of fake altcoins that come into the market almost everyday, go for altcoins that uses launchpads like Seedify and Dexcheck to raise fund for their projects, these few projects are more safer than those that get listed on Uniswap and have less marketcaps.

[Kristiyana]

Watch out for bad links on every social media this days, no one is free from malicious link, they target Twitter the most but they are also on Telegram and Facebook, be careful what link you click, most of the time, its always us that gives scammers the access to our data and other information's without knowing.

Pump and Dump happens with altcoin investments, if you are a beginner and you have the passion for altcoin investment, do not look for them anyone, there are dozens of fake altcoins that come into the market almost everyday, go for altcoins that uses launchpads like Seedify and Dexcheck to raise fund for their projects, these few projects are more safer than those that get listed on Uniswap and have less marketcaps.

Thank you so much for your information I really do appreciate, haven't known this I will know the kind of link to click and also the kind of telegram bot to participate on I have been following most of this channels on twitter, now that you make it clear to me I think I'm going to limit from visiting those site.

[Belarge]

Greed as always been the main reason why so many people lose their money in new project just to make money by all means. New project are very risky and it is not what needs to rely on. Since cryptocurrency is very risky to invest in it will be better people should go after known crypto to invest on than choosing the new projects that one is not even sure if it is reliable.  Many new project we have in the market now are scam projects.

The market is filled with risks, it'd undoubtedly understandable. The bull run is not over, infact its just starting and we might just be lucky if we're stacking up promising coins in the market. Greed will continue to show existence in the market because the presence of traders and investors invoked such to happen. I've come across gamblers that are ready to do everything within their position to enabled themselves sitting ontop and bringing in the stream flow of profits, moving sideways to their portfolio and also their pockets.

[pakhitheboss]

You can't see a pump and dump scheme with Bitcoin, you'll only see the market increase and decrease based on the mood of the market and you aren't totally at lose when Bitcoin decrease because the price will definitely rise back after the corrections. Fake news and FUD are experienced by Bitcoin investors but if you don't allow the news to determine what happend to your Bitcoin bags you won't be affected.

You have expressed yourself correctly. However, it doesn't seem very honest to be a BM of a meme coin that is being questioned every day. I do not understand why you are pursuing a false narrative that may ultimately harm you, given that you are promoting a low-quality coin. If that is the case, why do you continue to promote it?

Rug pulls aren't things that can happen to you as a Bitcoin investor

I have been following a project for a cryptocurrency that you are promoting now. However, I don't think that it has any positive aspects to it, as the owner of the project doesn't seem to care about it and doesn't reply to any questions or concerns on the announcement thread. Payment issues have also been a constant problem in the past. It seems like another scam in the making, and if anything goes wrong, you might end up being the one who receives the blame on the reputation board.

Altcoin are where the scammers are concentrating as they know alot of ignorant investors will be, since they're all searching for the next crypto to pump so they're easy targets to scam.

Do you believe the current signature campaign that you are a BM is legitimate and not a scam?

[Abu-Naim]

Thank you so much for your information I really do appreciate, haven't known this I will know the kind of link to click and also the kind of telegram bot to participate on I have been following most of this channels on twitter, now that you make it clear to me I think I'm going to limit from visiting those site.

This information is very vital, you should take them serious because it is very useful to us. If beginners lack orientation of such scams, it is always easy to scam them and they beginners will end up generalizing crypto as scam. However, it is not all links that you should click because of phishing attack, and you should avoid connecting your wallet to any kind of airdrop because there is a lot of scams going on In cryptocurrency space. Also avoid following all these social media updates especially telegram because scammers always like social media since people are always active and people are greedy.

[Issa56]

As long as there is a bull market, fraud will increase and it is up to us to be aware of these indications.

I will tell you a little about my friend whose wallet was drained by the X.com fake news by connecting the metamask wallet to a phishing site similar to the official one.

Scammers are coming up with a new strategy to scam people on a daily basis, so we just have to be smart so that we won’t end up falling victim. Some scam strategies look so cheap, but lots of people are still getting scammed. There are lots of scam patterns that have been discussed about previously, but in the next bull run, we should expect new strategies by scammers, but if you are smart, then you should be able to phish them out easily.

I don’t know why people still believe they can make free money from crypto, Airdrops are just wasting of time to me, some might be paying, but I will say it’s just few that do pay, and the risk involved in participating in airdrop is just kind of high, lots of people’s wallet have been drained just because they participated in airdrops that’s why we have to be careful. If anyone is connecting their wallet to any website, then don’t use your main wallet, you can create a new wallet and use.