Topic: Don't put your full trust on exchanges regarding scam projects. (Read 808 times)
IDAX I think is about to exit scam. They stopped all withdrawals and never respond to any request. Also decide to remove their native token IT and promised to convert it to usdt but seems impossible for now. Be careful guys, even a well established project can turn into your worst nightmare. Rumors the ceo of the said exchange was arrested.
December 02, 2019, 02:13:08 AM
True, I have seen some of the projects with intense website with proper roadmap and big MNC's as their partner and they do even mention that they will be listed in one of the big exchanges but eventually everything turnout to be a hoax and a project names Athero is the best example about it as they were so promising and said they were is talks with big exchanges and dumped it on mercatox.
It's how the scammers fool people about their projects. At first, you'll think that it's looks very legit but deep down inside of the owner's mind is to fool people and scam their money. It's not only the fake projects have problems about their project but also projects that can't survive in the long run.
December 01, 2019, 04:30:51 AM
If exchange enlist a scam project just for profit of few hundred thousand bucks it will be very difficult specially for new investors to avoid investing in that scam project. Since investors have put there trust in the exchange.
That's a good message. We all (new or old investor) must do proper research before investing into any project.
That's a good message. We all (new or old investor) must do proper research before investing into any project.
October 19, 2019, 11:24:26 AM
True, I have seen some of the projects with intense website with proper roadmap and big MNC's as their partner and they do even mention that they will be listed in one of the big exchanges but eventually everything turnout to be a hoax and a project names Athero is the best example about it as they were so promising and said they were is talks with big exchanges and dumped it on mercatox.
It's how the scammers fool people about their projects. At first, you'll think that it's looks very legit but deep down inside of the owner's mind is to fool people and scam their money. It's not only the fake projects have problems about their project but also projects that can't survive in the long run. 
October 18, 2019, 09:04:42 AM
That's absolutely true! Listing on the exchange has no guarantee that the project will not be scammed. Because in fact after the project was listed on several exchanges, many of them ignored the development they had planned and eventually their core team disappeared without news. This is what investors should be aware of, making sure that their team has experience and also their data has been verified, because this can make you feel more secure in entrusting your funds to them.
The credibility of the exchange is needed to support everyone not to be affected by fraud projects. The exchange team must be more careful and selective to include tokens or coins on their list. I really hope that in the coming exchanges such as binance, hitBtc, kucoin, and many others will give good performance to always selectively insert tokens or coins from various types of projects.So, I think it will reduce the growth rate of fraudulent projects that are very disturbing for investors and prize hunters.
Actually we have a reason to worry since actually we don't know on how the dev would react and what they are thinking since there are several coins/tokens has been listed on big exchange before turned scam and chances that it will happen today since many scammers level up and if you see how good there presentations today you will see in quick blink that they are legit and huge scammers can pay huge amount since they will surely know that they can regain what they pay since many people would think that they have potential because they are listed on big exchange.
True, I have seen some of the projects with intense website with proper roadmap and big MNC's as their partner and they do even mention that they will be listed in one of the big exchanges but eventually everything turnout to be a hoax and a project names Athero is the best example about it as they were so promising and said they were is talks with big exchanges and dumped it on mercatox.
October 18, 2019, 05:42:21 AM
That's absolutely true! Listing on the exchange has no guarantee that the project will not be scammed. Because in fact after the project was listed on several exchanges, many of them ignored the development they had planned and eventually their core team disappeared without news. This is what investors should be aware of, making sure that their team has experience and also their data has been verified, because this can make you feel more secure in entrusting your funds to them.
The credibility of the exchange is needed to support everyone not to be affected by fraud projects. The exchange team must be more careful and selective to include tokens or coins on their list. I really hope that in the coming exchanges such as binance, hitBtc, kucoin, and many others will give good performance to always selectively insert tokens or coins from various types of projects.So, I think it will reduce the growth rate of fraudulent projects that are very disturbing for investors and prize hunters.
Actually we have a reason to worry since actually we don't know on how the dev would react and what they are thinking since there are several coins/tokens has been listed on big exchange before turned scam and chances that it will happen today since many scammers level up and if you see how good there presentations today you will see in quick blink that they are legit and huge scammers can pay huge amount since they will surely know that they can regain what they pay since many people would think that they have potential because they are listed on big exchange.
October 17, 2019, 11:47:46 PM
That's absolutely true! Listing on the exchange has no guarantee that the project will not be scammed. Because in fact after the project was listed on several exchanges, many of them ignored the development they had planned and eventually their core team disappeared without news. This is what investors should be aware of, making sure that their team has experience and also their data has been verified, because this can make you feel more secure in entrusting your funds to them.
The credibility of the exchange is needed to support everyone not to be affected by fraud projects. The exchange team must be more careful and selective to include tokens or coins on their list. I really hope that in the coming exchanges such as binance, hitBtc, kucoin, and many others will give good performance to always selectively insert tokens or coins from various types of projects.So, I think it will reduce the growth rate of fraudulent projects that are very disturbing for investors and prize hunters.
October 17, 2019, 12:37:20 PM
OP is right, I also noticed it that lots of projects that conduct ico or IEO, got dumped when listed on an exchange, lots of these exchanges are only concerned about listing, trading and withdrawal fee, after the team dump, the price does not pick up to the initial price after dumping
October 17, 2019, 10:20:59 AM
I just realized that so many ICO / coins have died up to now. that's even more than 300 lists. Well, if I see this, I might have supported more than 5 ICO projects that were scams. however, this thread makes us aware of one thing that so many people are cheating us out there, so be careful when choosing projects is something that needs attention.
because of this, until now I did not really hope with the project being developed. in addition, I also do not give all my trust to the exchanger regarding a project.
because of this, until now I did not really hope with the project being developed. in addition, I also do not give all my trust to the exchanger regarding a project.
October 17, 2019, 09:31:41 AM
That's absolutely true! Listing on the exchange has no guarantee that the project will not be scammed. Because in fact after the project was listed on several exchanges, many of them ignored the development they had planned and eventually their core team disappeared without news. This is what investors should be aware of, making sure that their team has experience and also their data has been verified, because this can make you feel more secure in entrusting your funds to them.
The credibility of the exchange is needed to support everyone not to be affected by fraud projects. The exchange team must be more careful and selective to include tokens or coins on their list. I really hope that in the coming exchanges such as binance, hitBtc, kucoin, and many others will give good performance to always selectively insert tokens or coins from various types of projects.So, I think it will reduce the growth rate of fraudulent projects that are very disturbing for investors and prize hunters.
October 17, 2019, 09:18:12 AM
Usually Exchange puts the coin/token into their exchange because the project pays a fee.
If the exchange has good credibility then they will be more selective in accepting a project entering their exchange.
In crypto world we must be smart and must always be willing to carry out our own research on what project are good, not just based on where the coins/tokens are listing.
That's absolutely true! Listing on the exchange has no guarantee that the project will not be scammed. Because in fact after the project was listed on several exchanges, many of them ignored the development they had planned and eventually their core team disappeared without news. This is what investors should be aware of, making sure that their team has experience and also their data has been verified, because this can make you feel more secure in entrusting your funds to them. If the exchange has good credibility then they will be more selective in accepting a project entering their exchange.
In crypto world we must be smart and must always be willing to carry out our own research on what project are good, not just based on where the coins/tokens are listing.
October 17, 2019, 08:54:22 AM
There is a saying, "Not your private key, Not your coins".
I many messed up with exact wording but the statement is very similar. Good one OP.
I personally prefer mixers over exchanges because exchange requires you to provide your informations and if you decline, you won't be able to use it. I find it very risky because trusting now a days is a very dangerous thing especially if it involves large amounts for everyone is being greedy over everything profitable, they even have interest with non-profitable assets out of their greed. That's why remove the gullibleness out of your body and mind for you are also removing the risk along with it. I many messed up with exact wording but the statement is very similar. Good one OP.
legendary
Activity: 2380
Merit: 4265
eXch.cx - Automatic crypto Swap Exchange.
October 02, 2019, 03:41:38 AM
The mistake of a beginner who does not do research and does not find out the latest news on the coins held makes them ultimately lose themselves.
In my opinion the exchange should always make it a priority to keep their customers informed on information that could affect the development of a project like swapping of blockchain, migration to mainnet or forks although some well reputed exchange are doing this, other aren't and this is costing Investors.
The projects having this changes should also make it a priority to inform every exchanges their projects coin/token are been traded on to inform their customers of the development. The industry in general should learn to cooperate and share information within each other and finally the patronizer of those Project should make it a priority too, to stay updated with the projects they have invested in.
October 01, 2019, 01:02:12 AM
The mistake of a beginner who does not do research and does not find out the latest news on the coins held makes them ultimately lose themselves. There are lots of coins that have been listed in several markets and even those that have been listed in the coin market still don't guarantee the credibility of the coin. Trading volumes are down, there is no development of dev and there is no interest in traders to buy the coins so that the coins are finally stopped and the losers are investors.
I experienced it myself. My mistake of never looking for the latest news updates about the coins I held was making me lose.
I experienced it myself. My mistake of never looking for the latest news updates about the coins I held was making me lose.
September 30, 2019, 10:42:56 AM
To be honest, most of exchange just seeking for money form listing fees. No one looking at project backgrounds and how potential that project. They need just money and they will list token even with proven fake teams. What will do traders, they have to trust exchange and there is no other way. If you are trader then without trust you will not make deposite on any exchange. But main thing is, before choose a coin for trade you should research about that coin how its potential. Listing a coin on exchange doesn't mean project is potential. So there is also free responsibility for traders.
Yes mostly exchange added coin or token because the fee, but I saw on Binance Twitter account they said even the developer paid for 400 or 4000 BTC if they know the developer is fake or shit they will not added the token to their exchange.
So trader need to make own research about token or coin they want to trade even in good exchange they need to be selective.
September 30, 2019, 06:52:51 AM
To be honest, most of exchange just seeking for money form listing fees. No one looking at project backgrounds and how potential that project. They need just money and they will list token even with proven fake teams. What will do traders, they have to trust exchange and there is no other way. If you are trader then without trust you will not make deposite on any exchange. But main thing is, before choose a coin for trade you should research about that coin how its potential. Listing a coin on exchange doesn't mean project is potential. So there is also free responsibility for traders.
I see binance got so picky on listing on there exchange they have so many requirements before they list a coins and actually I'm trading with there new listing and leave the coin when I get the profit but I can't still recommend to give a full trust since huge possibilities that they will run off and scam people even they are listed on top exchange, But for small exchanges I don't give damn on them since I will not surely buy nor play them with fire.
September 30, 2019, 06:11:48 AM
To be honest, most of exchange just seeking for money form listing fees. No one looking at project backgrounds and how potential that project. They need just money and they will list token even with proven fake teams. What will do traders, they have to trust exchange and there is no other way. If you are trader then without trust you will not make deposite on any exchange. But main thing is, before choose a coin for trade you should research about that coin how its potential. Listing a coin on exchange doesn't mean project is potential. So there is also free responsibility for traders.
September 30, 2019, 03:15:26 AM
Most (if not all) exchange aren't interested in the safety of your funds as you assume, they're only after their profit, don't relay on just the fact a project's coin or token is tradable that make it a legitimate project to invest in. Learn to carryout more research, don't put your trust on exchange to prevent you from losing your funds to scam projects.
I completely go with you on this. Everyone is after making money and there is no written confirmation or any rule that the coin listed on an good exchange needs to be great project. Probably the project might be paying a whole sum of funds for listing.
Two or 1 and 1/2 year ago there was a coin that dumped very hard over night for some scam done by the founder do not exactly remember the name. The coins was performing well till the news and that coin was also listed in almost all the exchanges.
They are actually do that for a sort of promotion since if they can list there coin on good exchange then it will benefit them to gain more money to scam since many people will think that the coin have a potential since it was listed on big exchange that's why I always put a safety net on my investment and do some hit and run on past ICO's and never go back on buying on them since I mark all of them as short term investment only.
September 30, 2019, 03:04:59 AM
Most (if not all) exchange aren't interested in the safety of your funds as you assume, they're only after their profit, don't relay on just the fact a project's coin or token is tradable that make it a legitimate project to invest in. Learn to carryout more research, don't put your trust on exchange to prevent you from losing your funds to scam projects.
I completely go with you on this. Everyone is after making money and there is no written confirmation or any rule that the coin listed on an good exchange needs to be great project. Probably the project might be paying a whole sum of funds for listing.
Two or 1 and 1/2 year ago there was a coin that dumped very hard over night for some scam done by the founder do not exactly remember the name. The coins was performing well till the news and that coin was also listed in almost all the exchanges.
September 30, 2019, 02:19:50 AM
Usually Exchange puts the coin/token into their exchange because the project pays a fee.
If the exchange has good credibility then they will be more selective in accepting a project entering their exchange.
In crypto world we must be smart and must always be willing to carry out our own research on what project are good, not just based on where the coins/tokens are listing.
If the exchange has good credibility then they will be more selective in accepting a project entering their exchange.
In crypto world we must be smart and must always be willing to carry out our own research on what project are good, not just based on where the coins/tokens are listing.
That's why when they want to be listed on big exchange they need to wait longer because if this scam project will be listed on their exchange it will affect their reputation. they will end up getting some negative feedback from their community.
As you can see, you need to wait for long to get your coins listed in Binance exchange even some legit project will need to go to this procedure.
and in some other exchanges needs to have the community decides if the coins or tokens will be lists on their exchange. by making users vote for those coins or tokens.
And that's the good thing in binance they make sure to look carefully on coins background before they get added on exchange but we shouldn't still rely on this information only since there are some instance that they will spend more money for extravagant exchange listing just to gather more traffic,traders and more funds so a smart move will always on our mindset and always take the profit as long we hit the winning trade.
Jump to: