A way to be safe from Rug pull

[jrrsparkles]

Rug pulls are a common scam in the crypto space, especially with meme coins. Fortunately, there's a Twitter account dedicated to exposing these scams and helping you stay safe.
X-ANTI SCAMMER on twitter actively monitors and follows the accounts of known scammers, keeping track of their rug pull contract addresses. And over the past few months, their work has proven to be 100% accurate in identifying and warning about potential rug pulls. I'm sure this will be helpful for memecoins degens.

If they help to expose scammers of crypto in anyway that will be helpful but I beg to differ they can predict with 100% accuracy of all the rug pulls because it's a scam that started legit and run away with investors money once they made enough so unless you have been a part of the project and known the intention from the very beginning it's impossible to predict the rug pulls from legitimate cause literally they're same.

[Belarge]

Rug pulls are a common scam in the crypto space, especially with meme coins. Fortunately, there's a Twitter account dedicated to exposing these scams and helping you stay safe.
X-ANTI SCAMMER on twitter actively monitors and follows the accounts of known scammers, keeping track of their rug pull contract addresses. And over the past few months, their work has proven to be 100% accurate in identifying and warning about potential rug pulls. I'm sure this will be helpful for memecoins degens.

Thanks alot for bringing to our awareness these piece of information, it's very helpful for ends, atleast most of us now have a clue about these scamming projects and their characteristics. It's commonly known in the space and we should be very careful when dealing with the system. There's more projects that have become a threat and compromised our chances of earning enormous profits in the system. We ought to be very careful with our dealings and always watch our back because scamming is currently the orders of the day.

[Mate2237]

It's very hard to do that. Everyday, hundreds even thousands new scam tokens always being issued in solana blockchain. The smart guy will never ever bet on these new meme tokens.

Except, they were degens. It's very hard to know that which token that was not a honey pot tokens these days.

So many scammers now.

Solana network is welcoming newly launched scamming token and people didn't know so they thought since Solana is a good altcoin those tokens that are using the network is also good but the opposite is the case. And I think many have died. And the dead of those nonsense tokens from the network made the network free from the congestion. The scammers are not using separate network but combine network either with Solana or Ethereum. They also disturbed bitcoin small through the ordinals.

The scamming tokens are getting more in these days so to I ow the best is hard. Like Blum, Hamster Kombat and Tapswap are the ones I know but I don't know if they are legit because people are saying that they are not. Rug Pulls is still effective and after that post there have scammed cases.

[Dunamisx]

Rug pulls are a common scam in the crypto space, especially with meme coins. Fortunately, there's a Twitter account dedicated to exposing these scams and helping you stay safe.

If you're not too quick about making money and you're also not being greedy in making successful achievement over a short period of time, then you will not fall in their hands o this category, what happens is that you will discover some of these shitty projects developers making shillings on their offers in which they will polish well to make it looks more attractive and fast track the promotional time frame on it in other to quickly execute their targets for scam on those that will be investing and the next you see is their withdrawal and the entire project lack funding and investors to make it sustainable.

[electronicash]

thats a cool niche. something that isn't very common on twitter. most of the crypto accounts on twitter are often just shills. i checked all their posts whether they shout on one of the memes i bought, so far they didn't mention any of them so i'm fine.

i'd follow just so i'd be aware which one they think will rugpull anytime. saving just a little amount of my memecoin investment before it goes zero will still be a big help.

[Kristiyana]

Rug pulls are a common scam in the crypto space, especially with meme coins. Fortunately, there's a Twitter account dedicated to exposing these scams and helping you stay safe.

Twitter has been very helpful in terms of exposing most of the scam accounts because what Twitter does is that if a certain amount is use to scam people of there investment they will tag the account so that people will no longer fall victim of such but still people need to be very careful because most scammers will still create a new account in other to accomplish there goal and also Rug pull normally happen in meme coins which has resulted so many persons to lose there investment.

[wheelz1200]

Easy way to not be a victim is don't buy into these fly by night tokens that get contually built.  Buy something that has been around for a long time.  People won't do that because theor greed won't allow them to think rationally but it's really the only way.  Steer clear of fringe projects.

[batang_bitcoin]

Easy way to not be a victim is don't buy into these fly by night tokens that get contually built.  Buy something that has been around for a long time.  People won't do that because theor greed won't allow them to think rationally but it's really the only way.  Steer clear of fringe projects.

The newbies won't listen to us if we give them that warning that they shouldn't invest on those tokens. They might even accuse us that we don't want to see them in profit, that's what they're going to think about that even if we're doing them a favor and we're giving them tips for their own cause. Even the red flags are obvious and visible, they just can't help themselves with that and what they're going to do is to let them experience on their own the taste of their own dosage.

[Jegileman]

They need to keep the account updated with information about suspected scam tokens even before the scammers succeed in scamming anyone.

That’s impossible. How will they know whether a project is a scam if it has not done anything? It’s risky to spread the fact that a project is a scam because it may not be a scam and the account may lose its credibility.

Despite many suspicions if they can’t actually prove that a project is a scam, then it’s all worthless.

I feel the same way as you do. What if there’s even personal differences between the project owners and the ones handling the twitter page, you never can tell because those instances can happen even if it does happen rarely. There should be proof to back up their claims of project been a rug pull. And the best way to know a rug pull project is by doin your personal research about it even after or never was it mentioned by any page of being a scam. It is good to keep safe from such projects, keep awareness and also tell and confirm by yourself if a project possesses such negative notion of a rug pull project.

[sulendra12]

Rug pulls are a common scam in the crypto space, especially with meme coins. Fortunately, there's a Twitter account dedicated to exposing these scams and helping you stay safe.
X-ANTI SCAMMER on twitter actively monitors and follows the accounts of known scammers, keeping track of their rug pull contract addresses. And over the past few months, their work has proven to be 100% accurate in identifying and warning about potential rug pulls. I'm sure this will be helpful for memecoins degens.

The best way to avoid those rug pull meme coins are just not involved with it. Simple. Meme coins are full of degens and only 1 or 2 of those are actually doing something and making a return for those who cares. It's just not worth it to cares of these meme coins, sure the reward is promising sometimes but with the risk they offer mostly, then just forget it.

[Hazink]

The best way to avoid those rug pull meme coins are just not involved with it. Simple. Meme coins are full of degens and only 1 or 2 of those are actually doing something and making a return for those who cares. It's just not worth it to cares of these meme coins, sure the reward is promising sometimes but with the risk they offer mostly, then just forget it.

People seem to be following the risk part these days; they don't want to miss out on what they call early gems or how they classify them.
 
Since some other memecoins have pulled off well, some people who are new to the market want to buy every new memecoin that's just launched before they could even make a name, as they believe it's the best time to make a big profit before the coin can start trending. Their ignorance leads them into the trap of most of those scam projects.

[mich]

Well for me to not be scammed like this is a easy way. There is alot of rug pulls from the new alt coin projects that we do not know alot about.

For me I do not get it why people want to invest in new projects. We have so many coins we can just just hodl and we will get big gains.

[X-ray]

If they help to expose scammers of crypto in anyway that will be helpful but I beg to differ they can predict with 100% accuracy of all the rug pulls because it's a scam that started legit and run away with investors money once they made enough so unless you have been a part of the project and known the intention from the very beginning it's impossible to predict the rug pulls from legitimate cause literally they're same.

I guess its just combination of analyzing the smart contract codes to find some code that not up to the standard of protocol and also figuring out where all the coin went, fair meme coin usually put everything as LP, even if there's leftover coin it went straight to the burning address not to the devs wallet, we could pretty much know that a developer is not honest when they are transferring some ERC20 token meme coin in to their wallet instead of putting all allocation either to the LP or to the burning address.
that way its easy to distinguish potential rugpulls.


usually though there has been many warnings from automated security audits in some site like dexscreener that allow us to know firsthand the risk involved with the smart contract but sometime people just don't give a damn until they lost their money for real.
if anyone don't wanna get rugpulled just stick with the coin that has made it to exchange or something seriously at least these probably already got reviewed.

[Bureau]

I checked thier tweets and they have been posting mostly contract addresses on Solana. It is not that easy to track rug pull as everyday there are new meme coins that are coming up. Still, it is impressive to see these guys going after the bad ones. I wonder what do the check to come to the conclusion. Followed them and will keep monitoring the tweets for safety.

[adaseb]

Meme coins on Solana are mostly rugs. Last month there was 500,000 tokens created and how many were successful ? Maybe 100, or maybe 200 or so. The rest were all pump and dump or rugs pulls.

This Is one of the problems with DEX. Usually with a CEX, they do their investigation and only list credible tokens because they don’t want their users to complain. But with a dex, anyone can launch a token and most just launch rug pulls because they want a quick buck.

[jrrsparkles]

If they help to expose scammers of crypto in anyway that will be helpful but I beg to differ they can predict with 100% accuracy of all the rug pulls because it's a scam that started legit and run away with investors money once they made enough so unless you have been a part of the project and known the intention from the very beginning it's impossible to predict the rug pulls from legitimate cause literally they're same.

I guess its just combination of analyzing the smart contract codes to find some code that not up to the standard of protocol and also figuring out where all the coin went, fair meme coin usually put everything as LP, even if there's leftover coin it went straight to the burning address not to the devs wallet, we could pretty much know that a developer is not honest when they are transferring some ERC20 token meme coin in to their wallet instead of putting all allocation either to the LP or to the burning address.
that way its easy to distinguish potential rugpulls.

This is kind of rug pull but anyone who really wanted to do an exit scam wants things to be absolutely perfect so they won't leave such easy trails and that's why I said it is impossible to predict them with 100% accuracy cause exit scam is something that's gonna happen in future but screening potential scam projects with these kinds of tools can narrow down a lot for an average joe.

[el kaka22]

There isn't any, people do not realize that rug pulls do nto tell you that they will rug pull, sure there are some risky stuff but people do not lose tens of millions of dollars or even over hundred million dollars on those simple obvious one s that you can list anywhere.

It is the ones that look as legit as it gets, and ones that look like they are going to do incredibly well, and ones that stay very good for a while, those do end up with something that takes a while and in the end it feels like they are doing the right thing but when you think about it, it is not that simple at all. Those eventually turn to scam, they reach millions of dollars, and then they say "enough with legit, lets scam" and that's where most people lose money.

[Alpha Marine]

As much as the account may try its best to spot scams, they can only pick out so much. I went through the account and most of the coins they flagged as scams are pretty obvious ones. The problem comes with the not-so-obvious ones. There are many scam coins that look legit and may even be around for a long time and build a community only for that community to get rug pulled.

One advice I'll give to people is to always take profits. Sometimes, because you want more profit you can get rug pulled when you could have simply taken the little profit you've made home.

hence why the best way to be safe is to actually educate yourself with these schemes so you don't need people telling you which are scams and which are not.

https://chainsec.io/scams

This is a pretty detailed article. It covers almost every kind of scam in the industry. I like how all through the article it says "bitcoin and cryptocurrency". That's separating Bitcoin from altcoins.

I hope you don't mind because I'm going to share that link with some of my people that I feel will need it.

[Webetcoins]

Rug pulls are a common scam in the crypto space, especially with meme coins. Fortunately, there's a Twitter account dedicated to exposing these scams and helping you stay safe.
X-ANTI SCAMMER on twitter actively monitors and follows the accounts of known scammers, keeping track of their rug pull contract addresses. And over the past few months, their work has proven to be 100% accurate in identifying and warning about potential rug pulls. I'm sure this will be helpful for memecoins degens.

Projects that have the potential to rug pull are pretty evident if someone does a bit of research before making investments. They will always have some sort of a thing that would give it away because they wouldn't be able to cover that part and someone with experience can easily tell that the project isn't here to stay but is only looking to earn some money from their investors and as soon as they achieve what they are looking for, they will run away with the funds.

This is the reason why investors need to make sure that they do a lot of research when they are making investments in altcoins, especially when they are doing it in projects such as meme coins or shit coins because these sort of projects tend to have a higher probability of becoming a scam.

[kotajikikox]

As much as the account may try its best to spot scams, they can only pick out so much. I went through the account and most of the coins they flagged as scams are pretty obvious ones. The problem comes with the not-so-obvious ones. There are many scam coins that look legit and may even be around for a long time and build a community only for that community to get rug pulled.

People definitely undermine the ability of some teams to invest a lot of their efforts and time into making you believe that they are a legit project that will be here for a long time. They do this obviously for more profits. The more they pretend the more people will trust them and spread the word = more profit for them. This is why there's really no definitive tell-tale signs of a rug pull project.

One advice I'll give to people is to always take profits. Sometimes, because you want more profit you can get rug pulled when you could have simply taken the little profit you've made home.

I second this. Don't be greedy and don't put too much confidence in whatever you are investing to!