Topic: Be aware, so many scam coins are around - page 16. (Read 3659 times)
We can avoid a project scam. we can see the simplest things from whoever the team is in the project. When a team that is in the project has no credibility and is seen falsifying information as much as we can, we immediately avoid it and even we can provide references to other people that the project is worth avoiding.
Better to invest in cryptos that already listed in exchanges than investing in ICO's it is really risky you know, many scam projects nowadays so be careful what you invest.
For your info, profish was listed in exchange, it's nothing hard to list a coin nowaday. Just pay a little fee to the exchange. They will never analysis and allow people to trade that coin.
I have heard enough about crypto coins going scam ,the coins I'm most scared of are the ones that doesn't look like scam but are really scam ,you keep holding unto them as if they will make you rich in future but in the end its nothing but scam
That is true there is a lot out there we need to be careful for investing or promoting of many projects that all they want is stoling the money from their investors or they did not paying the bounty hunters for their works, so we need to be more aware of this.
Well to be honest, there are so many coins around that have been the greatest scams in the market. Many of the tokens sold via ICOs have been biggest scams of the crypto market. From the perspective of an investor, I would never go for something that does not promise gain of value. And a good project will do so that is why it is important for every investor to make sure the project of the coin they are investing in is great enough to attract demand and hence rise in value.
After the boom period in 2017 the crypto market has gone more vulnerable to the hackers and the scammers. So, it is the responsibility of yourself to keep away from this hacking and to be victim of the fraud as the crypto market is not regulated.
Better to invest in cryptos that already listed in exchanges than investing in ICO's it is really risky you know, many scam projects nowadays so be careful what you invest.
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
That's a good idea to remind us to be on alert on coins that might be a scam. But anyways, since we are here in cryptocurrency, isn't it obvious that being alert and vigilant on our accounts and wallets are the basic security on this trend?
I don't think this news to be new to us again because scam project is more than 60%, that is why you have to be careful in any project you want to invest in.
Yes i was also observed that after market is in a bullrun situation 2017 to early 2018, many bounty did not pay well and others are not paid as well. Much better for us now to be aware and watchful because scammers are everywhere and do their best effort they can to find a victim.
Scammer now are everywhere in the cryptocurrency if the project or person have a lot of funds that is their target so please be aware to every person or to the coin or the project that you invested we need to be vigilan for this now to secure our money that no one can scam us.
This is not a new thing again but this kind of warning will continue to be relevant because this scammers are coming with new tactics everyday that is strange to many and even many newbies are coming into the industry everyday and they might fall victim of old scammy strategies if warning like this is not being hammered everyday.
There are still too much fraud projects on the market and I wonder why people are still investing in them? Is it too difficult to make a research before putting your hard earned money into each project? It would save you so much money.
People are very lazy creatures. Therefore, it is too lazy to check every project. And to invest their money just think, and suddenly you get lucky.
That is some example of ICO scams. They are so many of it right now circulating the internet. Be aware and be knowledgeable about what kind of token you are buying or promoting. Some of them are just copying other cryptocurrencies so you should do a background check about the project.
There are still too much fraud projects on the market and I wonder why people are still investing in them? Is it too difficult to make a research before putting your hard earned money into each project? It would save you so much money.
Thanks for the information, there has been lots of scam ico going on ever since, the latest one is chain just look for a name of the coin you wanna bring and add chain to the name, then bring up some shady partnership, I just hope regulations might help in curtailing all this
It is imperative that the Bitcointalk community is wary of these projects. Thanks for the heads up. I think I'm aware of profish. I avoided the bounty campaign some months ago when I saw the price on mercatox. The team behind it is also not responsive
yes, we must always be careful before investing because we see that there are lots of ico that end up in fraud and I think investors also know this, on the other hand now many investors are reconsidering before investing in ico.
This is always happening many scam coins around so we should be very choosy on investing into a project. Do not invest on what we cannot afford to lose, face the risks in crypto that we might lose and earn. But ofcourse study the project first before investing like in Ico.
Thank you so much mate for bring here this helpful information. I agree with you that there have lot of scam and fake projects. Especially icos, there have so many fake ico and we need to be careful about them. Before make any investment we need to check the project very closely.
From 2017 till date they never stopped coming, the highest number of these scam coins was recorded in 2018 I think, these days Devs don't think about project development anymore they are basically just out to rip people off their hard earned minutes and elope. It's saddening
There are just too many of them, most of the recent crypto projects popping here and there are out with the sole intention of enriching themselves, once has to look carefully before indulging else you might lose your hard earned runs forever
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