Beware of scam projects out there ⚠️⚠️

[Franklyn-wood]

Why are some people acting surprised? There have been numerous cases similar to the one the OP is describing and more often than not, I believe that most investors/adopters of shitcoins know the risk they're taking. Such coins are a pure gamble, some are created simply to scam users (I remember a case where a coin seemed to be pumping but its users couldn't actually sell it and it then fell on its death), or are simply hyped too much but turn out to be failures.

As long as they're people who are after quick money, such schemes will exist. Those who are okay with the associated risks may proceed with caution and understanding the consequences of their actions.

The awareness going on mostly on this forum about dangers involved in some of this coins may look like an opportunity but most time the risk involve is higher that the benefits that will be gained after some times of mining. A friend of mine sometime was traped with offers of getting whopping bonuses after mininy that coin,

[puloweh555]

Also beware of going to those projects to invest on them, they truly exist but until we go to them before we could fall a victim of their trap, there are dumps and pumps project that many are introducing to crypto networks and trying to use as come against others willing to invest in order for them to make profit but ended up in losses, shitcoins truly exist and we must be able to avoid them by all means.

That's why so many people still talk about crypto fraud, even those who aren't familiar with it, even those who aren't familiar with it, think of all crypto as a scam including Bitcoin. In reality, this happens to most altcoins but the impact is that the average person will refer to all cryptocurrencies. Hmm.

What happened to $ESPORTS made big news this year. When the team controls the supply through multisig it's no longer a project but rather a liquidity scheme to exit the market. It's clear they're defrauding retail traders into almost nothing leaving them with tokens that are worth next to nothing.

A warning for all of us especially myself. Always avoid altcoins especially new projects because most of them will die. It's better to avoid risk and not waste time on new projects it's better to stay focused and prioritize Bitcoin in your portfolio for the long term. Cases like this should always serve as a lesson or reminder that shitcoins are truly ruthless and you should avoid them as much as possible.

[Achalugo BTC]

The awareness going on mostly on this forum about dangers involved in some of this coins may look like an opportunity but most time the risk involve is higher that the benefits that will be gained after some times of mining. A friend of mine sometime was traped with offers of getting whopping bonuses after mininy that coin,

Personally, I don't engaged myself with anything mining, even though the end will be profitable, I don't like it and mining is not for everyone though, as some might be profitable from it, while some might not. But, its essential for one to be more info, which they are to do more research, so that if they can confirmed every information, so that they will be at the safer side and avoid much risk that will lead them to financial issues, because some people don't bother to do what its right, as they thinks it will stress them, and they don't want to disturb themselves.

[tabas]

Personally, I don't engaged myself with anything mining, even though the end will be profitable, I don't like it and mining is not for everyone though, as some might be profitable from it, while some might not. But, its essential for one to be more info, which they are to do more research, so that if they can confirmed every information, so that they will be at the safer side and avoid much risk that will lead them to financial issues, because some people don't bother to do what its right, as they thinks it will stress them, and they don't want to disturb themselves.

Just remember that if it's about the actual mining, it requires the actual equipment which are the asic miners if this is for bitcoin. And for the alts, they're the gpus and other for the consensus algorithms they are required to mine. Many projects have been using these consensus algos to attract investors that they're mining this, that and everything at the expense of their users. What you do is right, just don't deal with them and avoid engaging to it because who knows if someone you're talking to is really good at talking and convincing and you might fall for it.

[RockBell]

The awareness going on mostly on this forum about dangers involved in some of this coins may look like an opportunity but most time the risk involve is higher that the benefits that will be gained after some times of mining. A friend of mine sometime was traped with offers of getting whopping bonuses after mininy that coin,

Personally, I don't engaged myself with anything mining, even though the end will be profitable, I don't like it and mining is not for everyone though, as some might be profitable from it, while some might not. But, its essential for one to be more info, which they are to do more research, so that if they can confirmed every information, so that they will be at the safer side and avoid much risk that will lead them to financial issues, because some people don't bother to do what its right, as they thinks it will stress them, and they don't want to disturb themselves.

And not just mining but there are a lot of scam strategies that is already there that will need to be corrected on time and every one is just trying to be careful because there is just a lot of scam projects out there and it's even very difficult when you are finding it very hard to tell because even does that are trying it out can not even guarantee you about anything then what do you do you flee from it is better that way and you can actually tell when something is scam when something is fishy it will always leave a smell somewhere so all you just need to do is for you to do your research so that you don't even put your money in something that you will regret it won't go well at all, just do research before any other thing.

[taufik123]

-snip-
But if there is a demand, then there will be a supply. As long as people are stupid and greedy, there will be many such projects, and everyone who has gained experience once will have a chance to avoid repeating their mistakes. And how many mistakes there are is always the choice of the "buyers-investors" themselves.

This kind of project always sells well in the market because they use the ticker that is trending right now and the scam developer plotter with the same team always does the same pattern which will only eventually drain the already big growing liquidity like the coin mentioned by OP.
looks promising with various developments and quite good increases, but then everything will be taken instantly and there will be a rug, but some do slow rugs so that they are not detected easily and people still believe to buy them.

Everyone may already have experience with this kind of project, but they have never managed to avoid it, there are some that succeed and others remain contributors to liquidity. Hoping to get in early but in reality it was the final contributor.

[HajiBagi]

It is not a surprise to see those type of tokens that got hype and end horrible, we have seen the one that is worse than this one and anyone who is not new to cryptocurrency and to this forum will know that it is not a surprise because there is no coin that can be trusted except bitcoin, i don’t know if i am the only one that does not have interest in other coins if not bitcoin because i have seen how people lose their money at the end when trying to buy other coins.

Investing in bitcoin is the best way to avoid not being scam because it is not a coin that you will buy and start panicking, investing in bitcoin can give you a rest of mind and also give you the chance of earning a good profit when the price rise but when you don’t appreciate good things like bitcoin and you want to make a quick profit you will end up losing your money on altcoins that are not good and being over hyped by the scammers.

[AYOBA]

I don't know what is making some investors to used huge amount of funds in such new  project without thinking that the project is new in the industry, am not saying you should not use huge amount of funds to invest but don't let it be some projects that showcase some signs of failure in the future, which is what this project investors are experiencing now and if they are not careful to think positive, it may lead them to loss everything at the end. Assume they invest this kind amount of funds in bitcoin, it wouldn't create fear in them because other investors would have encourage them not to sell than to continue holding the bitcoin.

The reason most of investors use such kind of huge amounts of funds to invest in new projects is because of how some people hype the projects. You cans see that if they lunch new projects today instead of them to be observed the project for the main time to in order for to give them the actual results of the projects, is it really or fake one but they won’t; that’s why most of them lose their money at the end of day.

As for me I will not go and waste my funds on altcoins that will not bring single profits in future, after knowing how the market of the entirely altcoins goes this season I will never advise anyone to invest there while they is Bitcoin if you invest you even have peace of mind they will not be any over thinking about the scammers.

[dansus021]

A literally a dozen new coins are created every day, it could be a shitcoin, memecoin, rugcoin, or whatever coin you name it. Scam project is out there waiting for us to buy or do transaction with it and take our hard money. I do believe thta some guy outhere who hangout on social media talk about crypto and buying 5 lambo one of it is scammer.

Marlon Ferro or as known as GothFerrari do social enginner and steals from people. In your case ESPORT owner maybe now buy some expensive tequila in a bar with bunch of chick. "this space is full of scams and all" and we need to be aware of it

[DYING_S0UL]

Classic rug pull scam technique, this is nothing new, and has been going on for years now. There is always this pattern, dev hype ups the project only to abandon it later on, while pulling all the liquidity out and fleeing with investors funds. That is why those who are new to crypto should always avoid the too good to be true projects (shitcoins). They normally ends up as scams. They may seem as a quick way to profits, but that's a trap. They would promise you to the moon, and would leave you with nothing but worthless assets.

[MusaMohamed]

Classic rug pull scam technique, this is nothing new, and has been going on for years now. There is always this pattern, dev hype ups the project only to abandon it later on, while pulling all the liquidity out and fleeing with investors funds. That is why those who are new to crypto should always avoid the too good to be true projects (shitcoins). They normally ends up as scams. They may seem as a quick way to profits, but that's a trap. They would promise you to the moon, and would leave you with nothing but worthless assets.

Altcoin projects are very useless, scam and can die in very different ways like planned scams at beginnings by their founders and developers or just dying with time when those people could not adapt to changes and trends in blockchain and cryptocurrency industry. There are many altcoin projects failed after they were created abundantly with hot trends in the industry while their founders and core members did not know how will keep developing their projects well after project launches.

Wolong - The game of deception with Dogecoin market manipulation is a very good article which can enlighten altcoin enthusiasts about how altcoin market can be manipulated, even very easily, and it is still not the worst which belongs to scam and dead altcoins.

[coinlary]

Lol. What were you expecting ? The next Bitcoin  .
It's not new and have  been quite normalised in the current age of the Internet.  Those investing already knows what they are signing before any deposit.unless you're a newbie in that space, which means you will eventually be used as their exit.

They are always planned, before launch they already have a target for exit and FYI most people you see investing could be part of the plan 

[Baki202]

There are altcoins that will give you peace of mind compare to others that won't allow you to sleep and what most people are always looking after is how to make quick profit and for a start that should not be in the calendar and the best thing will be for a calculative person to know how to take advantage of situation instead of looking for something quick that can land them in trouble because most people's gaze is always on the profit and making a quick one and they should do something better because that will.be the only thing that I feel that it will help from this scammers avoid wanting to make quick profit.

I don’t think any altcoin do give peace of mind completely, just that some of those altcoins are less risky compare to other, and I will say most people are always looking for altcoins with high risk because they believe coin like that is what can give them the kind of reward which they want. Most of all this old altcoins are not just going to pump the way all this shitcoins that are entering the market are going to pump, so instead of investing in altcoins that have really been in the space for a very long time, they prefer to go for a coin that was launched few weeks ago.

People are just so desperate to
Make money, that’s why they always after all this new projects, they want quick money, which they just going to lose even the one they are having. Invest in bitcoin and have peace of mind, if you are planning to hold bitcoin for long time, after investing in it, you don’t even have to monitor the price, or panic that something bad is going to happen to the coin.

Times are hard and everyone is looking for opportunities that they can make money from and this is just live there pressurea that have pushed people into doing exactly what they are not suppose to do, there is no excuse but so ever put because of how different we are there some people that they easily bow to to pressure ia stead of seeking solutions is instead of sobbing and there are a lot of scam projects that people don't just do there investigation before trying them out the only thing they consider first is how they want to milk it but at the end of the day they will be the one losing money instead of them to invest into real projects they are looking for something cheap to get a big amount from and it does not work that way.

[Coin_info]

Advice: We all should just focus on investing in Bitcoin, I know a lot of us already have this sentiment, but for those who are just starting, and those thinking just like me, that maybe I can cash out from a shit project,

The strangest thing about scam project is that some people know that it is a scam project but they still want to just try and see if they can make money quickly off of it and then leave but they end up becoming victims. Many people will not learn no matter how much others try to warm them about it because some people just like to experience things on their own as it teaches them better.

[Achalugo BTC]

Just remember that if it's about the actual mining, it requires the actual equipment which are the asic miners if this is for bitcoin. And for the alts, they're the gpus and other for the consensus algorithms they are required to mine. Many projects have been using these consensus algos to attract investors that they're mining this, that and everything at the expense of their users. What you do is right, just don't deal with them and avoid engaging to it because who knows if someone you're talking to is really good at talking and convincing and you might fall for it.

Well said mate, avoiding them totally is just the way forward because there are some persons who are good at convincing one and you might fall for them if you are not discipline or self aware enough, until the damage has already be cause, that's when they will realized themselves. Except one is very sure about and verify it to be true before they can go ahead and mined, if not, they should know that someone else is using them.

[Patikno]

Lol. What were you expecting ? The next Bitcoin  .
It's not new and have  been quite normalised in the current age of the Internet.  Those investing already knows what they are signing before any deposit.unless you're a newbie in that space, which means you will eventually be used as their exit.

They are always planned, before launch they already have a target for exit and FYI most people you see investing could be part of the plan 

Those with extensive experience in crypto should already understand the schemes of scam projects, but beginners need to pay close attention to avoid falling prey to scams that can be very detrimental to investors. In essence, beginners often overlook various scams, especially those involving shitcoins. Fraudsters often lure potential victims with sweet promises, and this happens all too often. Even, the shitcoin slogan says "the next Bitcoin" like you said also often appears. So, I think there is no harm in discussing this topic here, and this sub-forum is also dedicated to beginners who want to learn more.

Therefore, I emphasize to beginners not to be easily lured by sweet promises from projects that seem promising. The results of their projects may not be as sweet as they claim. I suggest beginners should avoid shitcoins, because I believe beginners will not be ready for the risks, or consequences.

[VarJames]

Good day forum, hope you'll are doing good wherever you're located.

So, I came across a project recently and it had a horrible ending. At first there was a lot of buzz and hype around it, and it was pumping like crazy, untill it came crashing down.

https://www.talkimg.com/images/2026/05/27/UjZdw5.png    https://www.talkimg.com/images/2026/05/27/UjZUYI.jpeg     https://www.talkimg.com/images/2026/05/27/UjZa8d.png

This token, ESPORTS was created mid 2025, and it is dumping up to 90% this year. I once heard from the forum that shitcoins are just created to drain people's funds, take a look at what they're cashing out, $13M+, this is crazy, like this space is full of scams and all.

I use to sometimes try seeing if there are any good projects out there that I can take advantage of their pump, but this is scary, this is barely a year and it is dumping like this. I ain't touching shitcoins again.

No need for speculations, this is purely a rug pull, a dev project to cashing out big, there is no utility, no problem solving, just create, hype, and then rug pull to cash out.

Advice: We all should just focus on investing in Bitcoin, I know a lot of us already have this sentiment, but for those who are just starting, and those thinking just like me, that maybe I can cash out from a shit project, well, it's a gamble, so it might be possible, probably after loosing a lot of money to some scam devs, but don't, apply the DCA method, and you'll come out better at the other side.

Disclaimer: I did not invest in this, I only saw the news so I decided to share here.

Here are 10 twitter accounts on security that I read

Here you can constantly watch about new types of scams or hacks + interesting cases on tokens and different rug pools

elliptic
chainalysis
zachxbt
Beosin_com
QuillAudits_AI
CertiK
caseb
PeckShieldAlert
CertiKCommunity

[Outhue]

In this month, the coin increased to $0.836 before it started falling. It has falling to $0.04 . That was a massive fall of a coin within just one month.

It fell from 0.76 to $0.4 within 30 minutes 2 days ago. This is very common in crypto. The most noticable one last month was RaveDAO, but it is happening often.

This is sadly the reality of alternative coins, they can turn you into a millionaire in a month and turn you into a porr person in a day, they ride up in weeks but once they reach a high price it's always a good time to get off them, but sadly many people still knows how to marry those altcoin bags and it breaks their heart after.

I can remember investing $400 on a project in 2023 and in 2024 I was sitting on $9,000 among few others, I took out $4,000 and put that back into Bitcoin, alternative coins will always remain the best way to have some amount of bitcoin in a short time but that's if you know what you are doing. That $4,000 was the last I took out, the rest wasted, I could have sold all but half bread is always better than none, if I find myself in such opportunity again I am not going to take half out.

[Zanab247]

We have to be more careful of investing on altcoins, if you cannot take the risk in them or already developed a thicker skin with experience in altcoin investment, is not a good idea for you to go into them without making necessary assessment over anyone you are considering for an investment, there are many pump and dump project out there that are being introduced and they keep coming like never before without any utility until we invest on them before we discover the are nothing but it disappointment of the highest order.

You can only experience this scam drama like this in altcoins, because is very easy for scammers to use one or two strategy to deceive newbies and some old hodlers to fall victim to their scam project. I noticed that some of the things that is causing people to drive into the hands of scammers is greedy, because there are some altcoins they can invest and hodl for a short period of time to make profit that will suit them.

Since I started hearing those bad news about some people that loss everything to new project in the market, because they saw opportunity which is not real opportunity for investors to hope on. You can also carry out your personal research to know if it is true about what other people are saying about the next bull of the coin, before you can take the risk.

[Akbarkoe]

You can only experience this scam drama like this in altcoins, because is very easy for scammers to use one or two strategy to deceive newbies and some old hodlers to fall victim to their scam project. I noticed that some of the things that is causing people to drive into the hands of scammers is greedy, because there are some altcoins they can invest and hodl for a short period of time to make profit that will suit them.

Since I started hearing those bad news about some people that loss everything to new project in the market, because they saw opportunity which is not real opportunity for investors to hope on. You can also carry out your personal research to know if it is true about what other people are saying about the next bull of the coin, before you can take the risk.

It's not just greed, but also the fact that fomo is taking more and more victims in new projects that are deliberately created by irresponsible hired influencers who always say DYOR at the end of their sentences so that they can wash their hands of everything they've said.
 
This is not a strange thing that happens in altcoins, some are indeed very surprising to experience a significant decline there are also those who come out slowly and this is rarely realized by many people, but there are many cases like this, not excited but their decline is more than 90%