We live in perilous times and need to be extra careful because several projects are up to take advantage of the gullibility of cryptocurrency enthusiast. I feel very disappointed when I see people investing in projects out of greed. These projects always seem to have a strategy to lure her victims.
Human greed is difficult to eliminate, especially in investing, but it will not be a problem if everyone puts forward research before investing in all projects, and for the sake of not easily fooled by the project and for the sake of eliminating the project strategy to attract victim. 
Topic: Be aware, so many scam coins are around (Read 3690 times)
Agree that scam coins sometimes have projects that look legit and are able to fool potential investors.
There's a lot of them, the reason why they were able to raise funds in through crowdsale is because investors believe on the potential of the project, but after the sale its the crucial stage and the reality says that only few has delivered of the total tokens or coins created in crowdsale. To invest in new projects, in my opinion we really need to be vigilant because sometimes it is difficult to distinguish legit projects from scam projects.
Every time we invest, we need to ensure we understand it by making a research, but it's no guarantee that we will be successful, sometimes timing is very important and the good timing is when the market is bullish. Deep research about the coin is the key to avoid being scam because scammers are so greedy. If the coins whitepaper was good enough then go for more research before going deal with it. So For me, don't rush things about entering or investing into a newly found project, long time researching is really needed. But as ther market has alot of coins to offer i cam recommend this coin that has a good potential and this is the ACI COIN.
I have learned that scammers have their own way too for them to look like a very legit project, they were very wise now too compare too, they also evolved their way to scam people, they are even launching platform but in fact they are just buying it in some developer that was failed before so they can show the community that they were legit.
Agree that scam coins sometimes have projects that look legit and are able to fool potential investors. To invest in new projects, in my opinion we really need to be vigilant because sometimes it is difficult to distinguish legit projects from scam projects.
Those new coins is promising their investors as far as they can so that they will invest to them. Little did the investor know is that they will be scammed because in first the value of the coin that you have is high but sooner or later it will go down because the developers will not gonna take care it of since their main goal is to scam people.
The weirdest thing that new developers do with new projects this days is promising good returns back to investors who invest on them, this won't do any good but turn off people who are still looking forward to invest on such project, any project team that promise good ROI is flashing danger to investorsto be more useful and bring help to the entire industry. Be furious with your money invest only to whatever you fully understand.
We live in perilous times and need to be extra careful because several projects are up to take advantage of the gullibility of cryptocurrency enthusiast. I feel very disappointed when I see people investing in projects out of greed. These projects always seem to have a strategy to lure her victims.
Those new coins is promising their investors as far as they can so that they will invest to them. Little did the investor know is that they will be scammed because in first the value of the coin that you have is high but sooner or later it will go down because the developers will not gonna take care it of since their main goal is to scam people.
The weirdest thing that new developers do with new projects this days is promising good returns back to investors who invest on them, this won't do any good but turn off people who are still looking forward to invest on such project, any project team that promise good ROI is flashing danger to investorsto be more useful and bring help to the entire industry. Be furious with your money invest only to whatever you fully understand.
Those new coins is promising their investors as far as they can so that they will invest to them. Little did the investor know is that they will be scammed because in first the value of the coin that you have is high but sooner or later it will go down because the developers will not gonna take care it of since their main goal is to scam people.
The weirdest thing that new developers do with new projects this days is promising good returns back to investors who invest on them, this won't do any good but turn off people who are still looking forward to invest on such project, any project team that promise good ROI is flashing danger to investors 
Those new coins is promising their investors as far as they can so that they will invest to them. Little did the investor know is that they will be scammed because in first the value of the coin that you have is high but sooner or later it will go down because the developers will not gonna take care it of since their main goal is to scam people.
Of course scammers are smart people to be able to make others believe in what they say and also what they bring, if scammers are not smart there will be no one who wants to participate in the projects they bring and for whitepapers it is sometimes difficult to judge a project just from reading the whitepaper and also their website, sometimes we can still be fooled even though we have made our own observations about the project and for me we need someone to share advice about the project that we observe.
Scammers are good in telling lies, they are good in speaking, they will think well with what they are going to say that will impress investors, so it is up to us how we are going to check their lies. So for me better to focus and invest in existing project already, those who are already listed and have a working product rather than those who were just starting.
Deep research about the coin is the key to avoid being scam because scammers are so greedy. If the coins whitepaper was good enough then go for more research before going deal with it. So For me, don't rush things about entering or investing into a newly found project, long time researching is really needed. But as ther market has alot of coins to offer i cam recommend this coin that has a good potential and this is the ACI COIN.
I have learned that scammers have their own way too for them to look like a very legit project, they were very wise now too compare too, they also evolved their way to scam people, they are even launching platform but in fact they are just buying it in some developer that was failed before so they can show the community that they were legit.
Since scammers have already developed a new and improved way to victimize other people, we must really need a hand to hand help to educate and help each other by informing each other of whatever we found about a certain project so that we will all be aware that such project is a scam so that wr can avoid getting engage into such project to be able to lessen the victims of such scams. By this way, we can create a safe working space of cryptocurrency for everyone. By this, we can worry less about the work space we are currently into in which we will all benefit because we can secure that we are only engaging and working into a safe and reliable project. Still, deep research and thorough research done by yourself to educate your own is the best weapon we can acquire so that we will not be a victim of such scam projects.
Deep research about the coin is the key to avoid being scam because scammers are so greedy. If the coins whitepaper was good enough then go for more research before going deal with it. So For me, don't rush things about entering or investing into a newly found project, long time researching is really needed. But as ther market has alot of coins to offer i cam recommend this coin that has a good potential and this is the ACI COIN.
I have learned that scammers have their own way too for them to look like a very legit project, they were very wise now too compare too, they also evolved their way to scam people, they are even launching platform but in fact they are just buying it in some developer that was failed before so they can show the community that they were legit.
Now that most of the people are well aware of scam ICOs, scammer has found another way to scam people. I have observed 3 projects till now which I will list here and give you a highlights how they scam people, specially the newbie.
1. Privcy
Privacy was a free airdropped coin which was distributed freely over the community for helping promoting the project. Later, they decide to reward more to the holder of the coin in airdrops. The more coin you hold, the more airdrop coin you get. Newbies started to buy coins for getting more airdrop coin and DEV were selling their coin. I am sure they had a lot of fake accounts participating in the Airdrop. Can you believe they scammed people in such a way? Now, the project is died, 24 hour volume is- $620 which was less than $100 couple of weeks ago.
2. Profish
Profish was an ICO which came into the exchange before the bounty end. They were listed in mercatox and used to have some fake volumes. I don't know what happened to their ICO but they sold a lot of coins through mercatox and later, the price is now 1 or 2 satoshi from 650 satoshi. This is also a dead project. They scammed people.
3. Helios Protocol- Be aware
Helios Protocol is now airdropping coin to their community. This attract my eyes when I see user vectisitch was vouching the project. He was a moderator in privcy, so, there's no doubt that both of the project are from same person and this helios shit is also going to scam money. I want to alert you guys not to invest in this scam project.
Here is the vouching comment- https://bitcointalksearch.org/topic/m.50087444
1. Privcy
Privacy was a free airdropped coin which was distributed freely over the community for helping promoting the project. Later, they decide to reward more to the holder of the coin in airdrops. The more coin you hold, the more airdrop coin you get. Newbies started to buy coins for getting more airdrop coin and DEV were selling their coin. I am sure they had a lot of fake accounts participating in the Airdrop. Can you believe they scammed people in such a way? Now, the project is died, 24 hour volume is- $620 which was less than $100 couple of weeks ago.
2. Profish
Profish was an ICO which came into the exchange before the bounty end. They were listed in mercatox and used to have some fake volumes. I don't know what happened to their ICO but they sold a lot of coins through mercatox and later, the price is now 1 or 2 satoshi from 650 satoshi. This is also a dead project. They scammed people.
3. Helios Protocol- Be aware
Helios Protocol is now airdropping coin to their community. This attract my eyes when I see user vectisitch was vouching the project. He was a moderator in privcy, so, there's no doubt that both of the project are from same person and this helios shit is also going to scam money. I want to alert you guys not to invest in this scam project.
Here is the vouching comment- https://bitcointalksearch.org/topic/m.50087444
"The more coin you hold, the more airdrop coin you get."
Reading that already tells me that I should drop the hodling. There is no way that an experienced hodler would fall for that. Thankfully you indicated "newbies". This ain't familiar projects for me, but I am quite swayed on the methods these scammers do. Even with high discounts in pre-sale of coins, I am already raising an alarm to it.
Deep research about the coin is the key to avoid being scam because scammers are so greedy. If the coins whitepaper was good enough then go for more research before going deal with it. So For me, don't rush things about entering or investing into a newly found project, long time researching is really needed. But as ther market has alot of coins to offer i cam recommend this coin that has a good potential and this is the ACI COIN.
I have learned that scammers have their own way too for them to look like a very legit project, they were very wise now too compare too, they also evolved their way to scam people, they are even launching platform but in fact they are just buying it in some developer that was failed before so they can show the community that they were legit.
in the cryptoqurrency space is a place of money, so do not be surprised if a lot of scamers do the action in this industry, on the other hand scamers are the biggest problem in the cryptoqurrency industry, they also always have a way to fool the victims. and it is important for us all to always be careful before taking any part in this industry, scamers are always around us.
It is good that we are all helping hand on hand to keep our mates here in the forum be updated and aware of the latest happenings and discoveries on what we have recently discovered roaming around the forum to let other people know about such existing scam projects that they must avoid so that the victims will be lessen and the best is that no single victim will fall into their trap. It is really in need that before jumping or getting engage into such projects is we must first educate ourselves about the background of the project by doing thorough research so that we can figure out more information regarding the project for our own good sake at first and once proven is that we can share it to others. We can create a safe working space for all of us here in the industry we are all into which is basically working into cryptocurrency if we will be helping out each other, educating each other and also helping ourselves first to understand cryptocurrency so that we can avoid and not fall into scam projects out there.
Deep research about the coin is the key to avoid being scam because scammers are so greedy. If the coins whitepaper was good enough then go for more research before going deal with it. So For me, don't rush things about entering or investing into a newly found project, long time researching is really needed. But as ther market has alot of coins to offer i cam recommend this coin that has a good potential and this is the ACI COIN.
Scammers have many other ways to get victimized, Like Token Swap.
You will receive coins of 100 USD worth but suddenly the developers announce that there is a token swap which will have a 3-1 ratio and therefore the coins we hold will result in lower value.
You will receive coins of 100 USD worth but suddenly the developers announce that there is a token swap which will have a 3-1 ratio and therefore the coins we hold will result in lower value.
Such swaps are not legal. If they are doing a token swap, they need to make sure that everyone who owns the tokens are properly compensated. If someone initiates legal action, then the ICO promoters will be in big trouble. But to their credit, very few of the victims will go for the legal option and even if someone takes action these guys will vanish with all the money.
Scammers have many other ways to get victimized, Like Token Swap.
You will receive coins of 100 USD worth but suddenly the developers announce that there is a token swap which will have a 3-1 ratio and therefore the coins we hold will result in lower value.
You will receive coins of 100 USD worth but suddenly the developers announce that there is a token swap which will have a 3-1 ratio and therefore the coins we hold will result in lower value.
Scammers are less these days compared to the volume of them in the ICO golden months. There were lots of coins which just airdropped an ERC20 token and posted rubbish on their website in the name of whitepaper and roadmap, paid the exchange and listed on them in order to pump their token and then one day just sold their own token and vanished. People nowadays are investing with caution and education about this is needed to make new investors not fall for these.
It's true that scammers these days are lessen compared to the golden months of ICO in which there are a lot of investors who are getting scammed because of some shit or trash coins in which they are set up some tokens or coins and when the projects start to run the tokens are high and good enough but they didn't have exchangers then when the project finish already the exchangers will also become up and the tokens and coins will dump and eventually will vanished so fast so the investors are the one who are getting blame and being so sad because they up to go to the developer of the project and ask why the tokens or the coins suddenly dump and vanished in the market. Until now there are still some projects like this but not like on the golden ages of the ICOs in which almost all of them are getting scammed. Jump to: