Topic: Be aware, so many scam coins are around - page 20. (Read 3690 times)
There are a lot of projects out that one needs to be watchful. As an investor you have to carefully study the plan of a project before investing. Some projects starts up with a good plans and end up to be scam. For me it's better to get the details rights from the onset. Noone can tell if one project could exit scam.
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 three you mentioned are true but few
There are several worse tokens such as kwatt, scc and even equal token
Research apart; we have to be smarter with our decisions
The main problem of our market today is the scam projects that create tokens, which eventually become just not necessary. I think that this will really be a profitable business, especially if you now try to create resources that will be interesting in the future.
but it is not easy to do it with the amount of fraud that occurs, investors will be very careful in investing in new projects so that it makes it difficult for projects that are truly serious and eventually fail as well.now we should have to find ways to reduce the number of frauds that occur because this cannot be allowed to continue because it can damage the crypto image.
I believe that with the current state of the crypto ecosystem, when people spend some time to read and research more about a particular crypto project, you will get enough information on whether the project is a scam or not. People are just concern about the profit they will gain instead of them thinking about how feasible and achievable are the aims of the project in relation to the condition of the crypto space.
Profish had a nice signature campaign last year I think. But, I guess that it is a scam since the signature campaign itself is sketchy. This is why we need to be aware of any coins. And we should conduct more researches regarding on what coin we will invest on.
This is not good for legit projects, i wish people not join this kind of airdrops and research before, because more
and more people lose money on this coin if they buy it, i think some % of people join these airdrops because they not have money to invest on another coins but i wish this to change and have only legit projects.
and more people lose money on this coin if they buy it, i think some % of people join these airdrops because they not have money to invest on another coins but i wish this to change and have only legit projects.
I remember Privcy and Profish to have that massive signature participants during those times of their promotion. It was the few coins that I've seen to be already listed to an exchange while they are having an ICO and I thought that wasn't possible before but they did. Well, I thought that it is a legit project but the devs abandoned the project and dumped as much coins that they have. Same with privcy, I think I already saw some warnings about them before.
I don't know about other projects but I was aware of privacy coin ,at that time I was still using my mining rigs and I did came across privacy coin which was running on cryptonight algorithm ,after checking the website very well is looks more like a HYIP project to me because I've seen such design used on the website on a hyip 'high yield investment platform' website before
Lucky that I did not waste my time in the profish campaign, I tried to visit their website, but something fishy with their website it just ordinary with a little blog catching fish.
if we want to work harder in analyzing the project then it really helps us to avoid fraud.so in this case we don't have to complain too much and focus on choosing projects because not all projects are bad.
and my advice is not easily affected by the site or anything because fraudsters are also smart to trick people.
Good thing I didn't stumbled to any of these projects. Of course these scammers will continue to scam using different identities to themselves and naming different kinds of projects. It would be better to see a project going out attending important events showing how serious they are with their project. It should be a project not tweeting about their project only but through partnership and future plans. I see a lot of projects offering airdrop and I checked their twitter account, to my surprise they only tweeted about airdrop which immediately made me identify that it was a fake project.
Thanks for the warning OP.
Thanks for the warning OP.
It's good to know that you discovered their intentions and techniques on how to scam people. It's a lesson that we should learn. We must be careful next time and think of the best things to do to get rid of scammers. I have the same experience before and I tried to avoid airdrops. Doing some research upon joining helped me to choose a good project and coin.
However careful you might want to think you are, sometimes you still manage to fall into this scammy project that will take your effort as a bounty hunter and reward you with nothing, while as an investor, it's a different ball game, because in this regard both financially and emotionally you have have partake in the project and in the end it turned out to be a scam 
it is a very bad experience indeed, as an investors it even get worse because you just loss your capital scammers , so yes very important be careful.
it is a very bad experience indeed, as an investors it even get worse because you just loss your capital scammers , so yes very important be careful. agree with you, mostly ico project start on middle 2018 until now has many of them was fake, after they rob investor money, didnt pay bounty participant, and then run after that.
indeed, in the past there have been many projects like that, so we returned to how to choose them so that they could get good. I once joined a scam project and I felt very lost at that time in 2018 maybe a bigger deceptive project so far the way we can do it is always more careful and alert. 
Lucky that I did not waste my time in the profish campaign, I tried to visit their website, but something fishy with their website it just ordinary with a little blog catching fish.
The main problem of our market today is the scam projects that create tokens, which eventually become just not necessary. I think that this will really be a profitable business, especially if you now try to create resources that will be interesting in the future.
these sorts of threads are ok to a point. i'm all for warning people of scams but as we all know many coins get called a scam simply because it is too like a project that someone is invested in and they see it as a rival. the problem is mud sticks. so when someone cries scam because they think a coin will take supporters away from their project they harm that coin even if it has the potential to forward crypto and it's tech. please remember that just because a coin is good and has a large following, it doesn't mean that coin can't be bettered with newer and better tech
I do not know of now, but the rate at which people fell victim of scam in the past few months was quite alarming.
I believe a lot of people have learnt their lessons.
I use mercatox and I know of some projects that are scam, so I am always careful of them.
I believe a lot of people have learnt their lessons.
I use mercatox and I know of some projects that are scam, so I am always careful of them.
In order not to fall into the hands of fraudsters, it is better to participate in investing in new projects in the IEO.
IEO is conducted by major exchanges and they act as a guarantor of a fair transaction.
IEO is conducted by major exchanges and they act as a guarantor of a fair transaction.
Yes, this is the market that as a result of it was formed so many scams and all kinds of fraudulent schemes,but in any case the tightening and measures,regulirovanie and implementation of all sorts of things,so that soon all these manipulators and fraudsters will leave the market,and I am sure thatin the near future the world will be cleaner and brighter
I also think that in a few years the cryptocurrency market will not be the same as now. scammers who are now deceiving new users will no longer be allowed to be here 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
Thanks for your advice. I am a newbie and I really need such posts. It is really difficult to decide to join or invest in some ICOs. There are many risks. Even if I invest in ICOs that don't have potential, it's really bad1. 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
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