Topic: Crypto scams flourish most during bull runs. - page 2. (Read 363 times)

Ponzi may be outdated but not rug pulls. All I see are new shitcoin advertisement. Most of those coins will remain shitcoins and people will lose their money to the project owners.
So many different CEX advertising their business, and all these exchanges will just disappear with customers funds in the future. These are things that will keep happening because people don't learn.

The offers don't have to be good for rugpulls to happen, all those high yield projects still exists but a normal project with no stake feature will still scam anyone, all they have to do is confuse people that the project is the next best thing and the team or dev will slowly dump on investors.

If you have to go for alternative crypto coins, make sure the team is the best part, it's hard to get scam by teams that have good reputations in their past lives, like a project I invested some money on in 2022, the team are game builders from Activision and EA games, they are well known, and the risk was worth it after all, it's now one of the most performing in my crypto wallet. 

Bitcoin is the most reliable, less risky investment in crypto space, it's the only one I can recommend to anyone, but people cares more about how much they will make, that's why they want the next big thing.

It's true that scammers don't take breaks they operate everyday of the year looking for victims to steal from, but Bitcoin bull run season is also a boom season for them to scam more people because many newbie investors will enter the market. As the OP has stated areas to watch out for it's important for anybody that's looking to make the most of the bull season to be very cautious and carry out thorough research before putting their money in any crypto projects, because scam projects will be on the increase. The Bitcoin ETF approval is a new angle that scammers will also utilize to scan victims because the concept is new to most crypto users, it is an area that should be very well researched so scammers will not tell you make believe stories to steal from you.

Being scammed is easier to spread than having a good experience on bitcoin. It's true that there are still people up to this date that is still think that bitcoin is a scam even without even trying to use it or having it. They are scared of the unknown. This is why I think that if we want a true bitcoin adoption, we need to fill people with knowledge about bitcoin and cryptocurrency. This can reduce the victims of these scammers who are taking advantage of bitcoin and the whole cryptocurrency. Even having a basic knowledge of bitcoin can reduce the chance of you getting scammed. This is what happened way back when internet is still new, people are still skeptical about it and scared to use it. Things had change when people got the knowledge of how to use it and now, everyone use it. I believe that we will come to the point that it will happen to bitcoin and no one will become ignorant about it.

---

During a bull market, a massive flow of people will come to cryptocurrency. It is seen as an opportunity of scammers as the chance of them having a victim sky rocketed. I had experience various scam methods and it keeps evolving every bull market. Let's be careful because I'm sure that there will be new scam methods that will be executed during the bull market and also their good old scam methods that are still effective to newbies.

Scammers have been the more reason why most people refuse to invest in bitcoin, thinking that bitcoin is a scam. Its actually true that the bullish season and the ETF approval will increase the rate of scammers online, but that would not stop us from knowing their true identity. Like me I always know their activities especially on Facebook. Now the price of bitcoin is rising so do their activities on trying to scam people also increased. I see them on facebook always telling people that they are investment company which you will invest bitcoin or USDT with them and they will trade it for you and you will make x2 profit, and that is a big fat lie which implies that their motive is actually to scam people. So I believe it's only a fool will fall for such cheap lie or scam. How on earth will somebody send bitcoin to an unknown address or person hoping to make profit instead of seeking for knowledge on how to invest.

You're absolutely right, there are a lot of ways that things happen, and new ones get involved in crypto, and the market is now on a good move, and we hope that E.T. F has been approved and after that we will not get to see the right stuff and Protect From scammers and see on top of the upcoming regulation.
After ETF, many things that are now will go on a good path and the chances of the Scam will be very less and from which we both the new and the profitable investor can earn a good profit.


I remember very well when I came into this market, I also had a scam of 600 dollars which happened in 2018, after that slowly I understood the market and invested in myself and after that I got into it after researching a lot of things, first of all there are many free and free websites and scan websites in the market that people invest in. Which I also did on a mining website and it caused us a lot of loss, And I assured the approval of ETF is also a good proof that all the investors can invest safely and we don't have to rely on any other site.

In the world of crypto, sadly, scams are a common problem. All year round, there are people trying to trick others into giving them money. The real issue comes when a lot of new people join during exciting times. Some folks invest without really understanding how things work, just because others say it's a good idea. These newcomers, not knowing much about crypto, become easy targets for bad people. If you're already in the crypto world, it's important to help these newbies understand that they need to be careful. There are always dishonest people trying to take advantage of those who don't know much. So, stay alert and protect your money.

Nah, forget about researching. Just invest into Bitcoin, and you're good to go.

Kidding aside, whenever I want to re-allocate my funds, or when I want to invest into other altcoins, I always spend hours researching because it will help you decide whether it's a good investment or not. Of course you can't research on other altcoins if you don't have knowledge yourself on what you're doing so better gather some knowledge first that will help you.

More scammers emerge during the bull run because many investors are excited about investing into different coins. There's a famous quote and that is "When emotions are high, intelligence is low." This is the reason why some people are getting scammed. They're too excited that they forget if that investment is legit or not. Be vigilant, be aware, and always look if the website you're browsing is the official website. Scammers, and phishing websites are the most common ways of getting funds from other investor, but it works.

With regards on your side note, I don't usually store my funds into an exchange, but for sure there will be some that will store it there. Why? So that they can sell it faster.

I love that part. It's the nutshell in your post. I've always maintained that too. It's sad that many people don't think of investment from that angle. They think some other dudes can preempt or determine the market to give them certain ROIs. No one can determine what the market does. We're at best speculators and the market is the master. The earlier people know that, the better for them.

Like someone said, the bull season is a time for bullshit 😏. We've to expect all manners of nonsense and worthless projects coming to the market now than they did a few months ago, and many more will come a few months from now. It's the pattern every circle.

upto this point you think we have people here that still their investment in exchange account? This is impossible to believe with the high rate of which everyone keeps saying of not your key not your coin and people will be so dom to keep their coin in exchange. Well there is nothing to argue because I believe there are people who are not in anyway connected to this forum that may not have that idea to move there coin from exchange to a non-custodial wallet.

During periods like this scammers tend to utilize the opportunity of the increase in demand for crypto projects and come up with varieties of techniques just to lure victims. This is the period where most investors are eager to invest in any project due to the Fear of Missing Out and so scammers make use of this opportunity. It is more like the market days for crypto investors so as we are all getting ready for gains scammers are also devicing their means to make money because it is during this period that people are easily caught off guard.

This scamming technique is getting old that when i still see people fall for this trick it pisses me off, like how can i just expect free money from some random company without working for it. It sounds ridiculous, no one has any free money to offer you so we need to be careful and take note of that. I’d rather see someone fall for rug pull scams or fall for fake projects as a s result of not carrying out the necessary research before investing.

It’s all not good though, we should be careful in this time of the market because the percentage of scammers active in the industry usually increases by a whole lot during these times.

Crypto scams flourish both during the bull run and bear run markets. Scammers are always changing strategies when there is a bull run, but we should know that people are being scammed both during the bear and bull run. When it comes to bull run, you will see lots of coins entering the crypto space. That’s when you see scammers taking advantage. You will find it difficult to identify real coins and scam coins. You will never believe some coins are fake after doing research about them. That’s why we should be careful when investing in new projects, because you are likely going to invest in scam coins.

Yeah, you are right, rug pulling is a scam that is very popular during the bull run. Any coin with too much hype, don’t be surprised if they end up rug pulling. But the Ponzi scheme is even more popular during the bear market. Lots of people will have lost a lot of money, and they will be desperate to find a way to recover from their losses. If they are being introduced to any Ponzi scheme and they are being brainwashed that they will get a high reward without risk, most people will end up diverting funds there.

Everyone does claim to be a professional trader when there is a bull run. We are soon going to start seeing different signal providers, we just have to be very careful. Most of them are just scammers trying to get from people. Don’t believe anyone that claims to be a signal provider. If you want to trade, learn to do your analysis yourself and trade, don’t depend on anyone.

Although crypto scams are also happening when the market is bearish, but I really think that it's more possible when the market is experiencing a bull run. Probably because the market is very bullish and that everyone will expect that all good things will happen, and that's where scammers will also take advantage of the market by deceiving newbies and naive investors to invest or trade in their own scam projects.

Bull run is not only the best time to profit but it's certainly where people are also highly susceptible to losses as scamming is also rampant that time.

Ponzi schemes and rug pills are some of the outdated scams that almost everyone is aware of, and scammers will not use them this time because they know they will not give them enough victims.

Scammers are always in the crypto space, but they always have targets for bull run seasons because they are very sure that people with no knowledge about cryptocurrency will rush into cryptocurrency due to FOMO. Scammers will give them sweet offers that will convince newbies with no experience. As a newbie who is willing to make money from cryptocurrency, they will tend to accept serious offers that will promise them a high return because of their greed and willingness to make quick profits.

This thread will serve as a reminder for our newbies in the forum to be careful, know the right channel to invest in, and avoid being greedy.

When you explain the bull run to someone who is new to cryptocurrency they get really excited by the thought of making massive profits from cryptocurrency investments. These kind of people do easily invest in new cryptocurrency, it's usually easy because they know that a bull run is coming and that all alt currency have a chance of being affected by the surge in price of bitcoins so they become more willing to invest in altcoins sometimes, even without taking time to do their personal research which we will usually end them in regrets. Bitcoin remains the best choice to invest and caution should be taken while investing in new cryptocurrency because scammers are also active these period, so that they can gain at least more bitcoins before the bull run kicks off proper.

The way crypto teams are innovative with ideas, so does scammers. When Elon dedicated his time to Bitcoin in the last bull run, there were lots of impersonation about Elon give aways. I literally got tired of Elon giveaways scammers because they just didn't stop. Don't be surprised if you see Gary Gensler becomes the new trend for scammers to get the attention of the newbies into crypto and the painful part of that, people always fall for them at any opportunity.

Bullrun has money, lot of colleague of mine made money last bullrun and I also know some of them that lost money because they weren't inform, the only thing they hear others discuss is I bought that and I got profits, I did this and that but they didn't ask how and where not to, that's how some of them dash away the money they couldn't even invest into the hands of scammers and this scams where even the cheapest but all was because of lack of information.

This is common in every industry, not just the crypto space, where scammers tend to use the trends to exploit newbies (beginners in every industry) who are willing to invest in such trends, maybe as a result of hearing testimonies of people who succeed with them. One thing is very certain: no enlightened person who has good knowledge of the crypto space will fall victim to such a scam, except that person who is just willful to throw away some money even after knowing the truth.

As it has been said earlier, what derives such action could be greed. Yes, most people missed out on Bitcoin when it was first launched and thereby misconcepted Bitcoin to every other shitcoin that promises some too good to be true results. Hence, due to greed investors invest in them hoping to reap good returns as those who have held Bitcoin since day 1. One thing I'm convinced of is that this scam project has already existed for like months now, just waiting for moments like this to shout their shots.

Scam have always been and this doesn't have to do with wether we are on the bullish or bearish season before such is being felt by the crypto community, we must just be very careful of not allowing ourselves fall under their trick whenever they are using occasions like this to perpetrate evil, we should know that scam is real and they try to use the only most trending avenues to launch their crooked ways aiming at those that will not be that sensitive on some of their tricks.

Scammers are always in the market but they always wait for the right time to release their fake scam projects at the time when people are vulnerable to buy them. Times like this are when this people will want to release fake projects thereby luring and deceiving people into buying their fake tokens with enticing offers. Beware of crypto scams, it has render many people lose all of their hard earned money after investing in them. No matter how good a project looks and is showing a lot of potential to make it in the market, always conduct a thorough research as it won’t cost you anything to know the risks to what you’re trying to invest into. These are good times in the market and also a time where many fake projects will be released, be careful not to fall victim of the unknown.

Acts of greed and lack of proper knowledge are what lead most crypto newbies to fall victim to some of those cheap scams. Those who have years of experience in the crypto industry may not be victims because they have studied and have also learned from the experience of other victims.

Cryptocurrency is not a get-rich-quick scheme. Because of this conviction, most people feel it is right to believe that crypto can pump and make them overnight millionaire. They can see a project that offers to give them a huge APY (annual percentage yield), and because of how attractive the offer might be, they will end up investing in such a token.

There was a thread I came across last week; I can't find the thread again. The OP was actually saying that if an investor always handle every crypto investment offer as a suspected scam, they will not easily fall victim to scammers. In essence, I would say that everyone should be very conscious of their investments and holdings during this period.