Topic: Be aware, so many scam coins are around - page 24. (Read 3690 times)
You just need to be cautious in investing money. It's very important to learn first the project. Sometimes it's hard to predict which coin will be going to succeed or not or who's team will deliver a good service and who will only scam. If you find the team suspicious like they are offering the usual percent earn in your investment then you must have second thought in investing. Maybe they just want to lure people especially newbies that only invest because of hype.
This is very helpful so that many users here can be aware of scam coins around in crypto. We have to be much cautious if we make an investment in crypto. So many project that not worthy to join and put money into.
Yes, because the project currently wants to make a profit when the market is having this expensive price, they want to get Bitcoin in an easy way.
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
Very true but there are hundreds more scam tokens than just this
Which is why it is mandatory to conduct research well before ico investment or bounty participation
Very true. More than half the projects out there are cheap scams waiting to rip off so many unsuspecting individuals, very much waiting to ambush just about any naive individual. Unfortunately, people keep falling for them uncontrollably. The only thing that can indeed salvage this situation is, if regulations are finally put in place soon enough.
With scam project, you could go on with an unlimited list of projects. All we need to do is to be extra careful with the kind of project we join. Now even scam project look more attractive than the real ones making it difficult to distinguish.
~snip~
So, if what you mean is people scam by the dev team; maybe you can add this too:- abulaba token, bitcointalk forum ANN: https://bitcointalksearch.org/topic/ann-pri-ico-the-best-payment-in-the-world-3348816 ;
- vaynix ATM, bitcointalk forum ANN: https://bitcointalksearch.org/topic/pre-saleicovaynix-vendors-privacy-atm-3239397
- etc
I think there're hundreds of scam ICO's that you can read their announcement in this forum.
Forum Admin, staff and moderators do not moderate the ANN ICO thread, because their position must be on the neutral side.
So forum users must be smart in choosing which ICO platform they must choose to invest or be promoted in social media.
There are just so many of the in the market now. And they all start with promises when they are on ICO, getting the gullible investors to buy into their fake talks and updates. The one that pains me most is all these softcap, hardcap news that people buy into. 95% of them are fake and manipulated. If a project on ICO really hit softcap or hardcap, I don't think that project has any reason not to give the Investors good profit on listing.
hero member
Activity: 752
Merit: 500
Bcnex - The Ultimate Blockchain Trading Platform
These are the main drawbacks of Coinmarketcap! They never delist a token name early even after scamming a lot of people's money! There are many scam/dead coins name still alive in CMC even with some fake volume. So, sometimes noob people fall into these scams. We really need to be aware of it! Personally, I knew the Profish coin, it is a sure shot scam!
Scams are just getting too much everyday, one need to be very careful especially when trying to invest in all those new projects that are yet to prove their worth in the industry
Sometimes, all that is needed to tag a coin as scam is to take a look at the promoter,the integrity is a big pointer as most fraudsters are serial scammers. It is sad that some exchanges are accomplices to scams,wash trading,fake volumes or even listing them on their platform. It is a shame really,hopefully we will move past this someday.
So every month there are dozens of fraudulent projects and they all cheat people. There are projects that cheat right away, others can keep the project afloat for a year, and then fool their investors. One thing is good, that with each passing month there are more and more people who do not invest in fraudulent projects.
It is a fact that many coins created by scam developers who selling it and run with the money.
We must careful and do our own research so we can't getting scammed when choosing what coins to buy.
That’s true, the best and a more safe coin i think was listed on the exchanges already and on the top 50 coins. Most of the ICO are just a scam and a failed project so its better to put your money into something good and not just on any coin. Always be aware that its hard to make money now on a new coins. We must careful and do our own research so we can't getting scammed when choosing what coins to buy.
I also met a lot of fraudulent projects. I even lost count. The worst thing is that scammers are inventing more ways to cheat. You are doing the right thing, it is necessary to inform everyone about new ways of fraud.
I see a lots of changes in this market the scams are coming through this market very high in this year and trusting something will not be possible at this situation and making the profit also been very difficult for every investor to stay here for a long time I think this will be the more difficult situation I have ever seen in Crypto field.
I also see that there are so many coins or maybe token that is now really become a scam. From year 2018 the number of the scam ico increased and there are only few or legit ico that is now running, so I think we need to be more extra careful or choosy about ico to avoid being victimized by the scammer because I see that scammer is everywhere.
It is true that many ICO projects have turned into scam, but many of them were fair projects created by professional developers who were simply unsuccessful because of the bear market. Do not judge failures in the same way as scammers.
In this market there are a lot of scams, it will be very difficult to make a profit if we invest in new projects, I think we should invest long-term in the top coins in the market instead of investing in new projects
No wonder that now we are dealing with such a number of scam coins. Even good projects couldn’t properly take root into real life, it’s obvious that most of this will never work out.
Always good to know which coins are scam coins. Even if they are airdrops it is often not worth the effort as they require you to do certain tasks and it is a waste of time doing them if they aren't worth much or anything at all
it's true that many new altcoins are deceiving, so if you want to buy an altcoin it's better not to have new coins but the old altcoins on the market obviously won't cheat
Scams appear in many places and include crypto markets, those who are very easy to use and get into scam money the best way is to learn experiences and addicts really and not rush make a decision.
Jump to: