Topic: Be aware, so many scam coins are around - page 17. (Read 3690 times)
This is fact, I have fallen for many of them in time past, the always use bounty hunters as a bait, and previously when I was still new to the space I just go about investing in projects shilled by these hunters, but that doesn't happen anymore, I always try to do my own research before investing
That's very true, there are a whole lot of cryptocurrencies that are being marketed with the intention of scamming investors their hard earned money. It's better to stay away from such cryptocurrencies and the only way to do this is to make sure you do a whole lot of background research before investing into any cryptocurrencies.
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
2018 was indeed a shitty year. The market conditions made it possible that only scam coins thrived. Once the fraudulent developers mentions mercatox, etheflyer or Latoken listing, he will subconsciously buy the minds of investors and dupe them
It is high time to end and discourage scammers as the market is being affected by such scammers. Each reports are being surfaced that scammers are cheating investors and bounty hunters. But what is interesting is that they are running their scams openly as if there are not any legal authorities to stop and book them. What the authorities are doing instead of sending them behind the bars? Strict regulations are in urgent need to check such scam business so as to make the market trusted.
Thanks for making people aware of scam projects that are plaguing the market so much that people are getting their interest off the market. No matter what strict rules are imposed, scammers find various ways to cheat investors and bounty hunters. They come up with various ways to make their plan of fleecing investors a success. But what we can do is just be vigilant and make such scammers exposed to the world through the power of media. We together can fight against such scammers.
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.
Well from year 2018 the number of the scam coin are really increasing there are so many scam ICO's that are really affected of huge dip that we experience, and maybe some other ico or scammers having a great opportunity to scammed others, we really need to be more carefull this time scam coin are everywhere and we can maybe loss our asset if we are going to invest on scam coin
Many ICOs are scamming the bad image of the cryptocurrency world, they are intentionally seeking profits by utilizing ICO, in various ways they make sure the crypto anthusiat to disburse their funds to buy their ICO products that actually do not exist, perhaps by giving information to colleagues colleagues in the forum or in other media to other anthusiast crypto so as not to get caught up in buying them, which is actually scammers.
I think there is no end to fraudsters, therefore we are here to be vigilant before taking part in investing in Iico, fraudsters roaming around us, ensuring that if you know there are oddities in this project it's better to avoid them. they always lurk anytime for someone who is careless or inattentive.
indeed we have to be careful because there are a lot of scam coins in circulation, not only are the newly finished ICO coins but many large coins that try to enter the market are also at risk of becoming scam coins, many coins currently have no value because the developer only takes advantage and not trying to develop the project properly
but new coins can be more dangerous than coins that already have big names in crypto. indeed we must always be careful in every decision we make, any coin can appear to be a scam and will harm us if we do not learn more.
indeed we have to be careful because there are a lot of scam coins in circulation, not only are the newly finished ICO coins but many large coins that try to enter the market are also at risk of becoming scam coins, many coins currently have no value because the developer only takes advantage and not trying to develop the project properly
Actually, there are hundreds of it this alone scam sections here compiled over 400 scam coins, not only three, even projects that are considered a good one are turning out to be a bad egg I joined a lot of coin's bounty campaign and until now they are delaying payment.
Scam coin have been around for a while now, is time everyone have to belive that not only coin who run after or before the token sale are only scam. Some major coin get listed in order to fulfill their scam, that's why you see them keep selling to any buyers until the price crash.
I think with time all these scams ICOs will be fixed and all filtered out as thearket keeps growing people become more wise. Thank you for sharing.
we all hope so, but the ICO situation is getting even worse here and in my opinion, the best year for the ICO project is in 2017 where many projects can achieve great success from now on which even more and more ICO scams.
I hope that in the future the condition will improve even more over time and there are strict regulations for every new ICO that will come out.
You can safely remove 90% of all coins currently on the market, they are all a big fraud that does not carry any benefit to society.
with the amount of coins that are now available, a 90% estimate is already well possible. unfortunately that means there are more shit coins than good coins and that is sad. but time will surely kill most shit coins and in the end only good projects will survive. you know, that some people have a good profit from scam projects - when newbies buying coins and believe in true of project - traders making good money.. so scam could be even profitable
Your idea is really bad, only this time I see someone thinking positively about a scammer. Yeah, it's profitable for scammer not for both parties. Traders who cheat beginners are the same as scammers, it will only reduce the crypto user population. It is strange to hear that someone who is cheated will benefit.
In my opinion you must be vigilant and don't be easy to believe in avoiding scammers.
you know, that some people have a good profit from scam projects - when newbies buying coins and believe in true of project - traders making good money.. so scam could be even profitable
Your idea is really bad, only this time I see someone thinking positively about a scammer. Yeah, it's profitable for scammer not for both parties. Traders who cheat beginners are the same as scammers, it will only reduce the crypto user population. 
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.
That is why I advertise only those projects in which I invest myself. And I participate in the bounty campaigns, first of all, not because of the award, but in order to increase the price of my investments.
I would not, not because of any money, advertise scam projects. I would not like to take on such responsibility.
Yeah, the market is getting filled with either scam coins or shit coins. Sadly, there are people out there that has invested thousands of money on coins that are useless aka shitcoins. They do not do any kind of research about those coins. They get caught by those fake volume created at different exchanges. If a coin is a clone of another coin, then there is a high chance that coin is to fail and be dumped in the future.
@Pffrt, thanks for the prompt alert.
This method of scam has been in the space for quite some time now, which was why i made the resolution that, any project team asking to buy more coins to receive airdrop i scam, because it is so common, except for some few ones that truly mean what they promise and can be trusted.
This method of scam has been in the space for quite some time now, which was why i made the resolution that, any project team asking to buy more coins to receive airdrop i scam, because it is so common, except for some few ones that truly mean what they promise and can be trusted.
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