How to avoid a scam project? - page 8.

Furious 7

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Quote from: cute nmp on May 30, 2023, 01:18:55 PM

So many scam projects out there one has to make very good research before investing in any project to avoid been a victim of scam.The market is full of scam one need to be very careful to avoid loosing their funds.

Even though paying attention to these conditions is a good thing because we are looking for and researching first whether this will end in a scam or not but on the other hand it is too time consuming in my opinion especially by doing something like this does not mean you will not be scammed in the end because of the possibility it is always there as long as you are struggling with new projects that are not clear.
The current condition is when we search every day, it's not even certain that we will find 1 good project in a day with the many fraud conditions currently.
The simplest way is to avoid it for whatever reason. Even though in the end we will be a little closed with a good new project but as long as we believe in what we are doing and want to be free from fraud I think it's not a problem.

AakZaki

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Quote from: bayudndy on May 30, 2023, 01:33:51 PM

It's important that you pay attention to what you're doing. If you really care and pay attention, it will become easier to distinguish real projects from real scams. Therefore, it is necessary to have a good knowledge base to be able to protect yourself and avoid the risks that scam projects pose. Research what investment projects are doing as well as how their progress is. Analyzing them and comparing the results of discussions with others can further enhance your verification assessment. However, no single precaution can provide absolute protection, but staying up-to-date, conducting thorough research, and being vigilant about projects can greatly reduce the risk of becoming a victim of scams.

Doing research as you describe I might have done. In the past there have been many successful projects even without doing research because very few scammers have appeared. But the longer time and crypto started giving good profit, many scammers started to appear. It takes extra effort to do research, sometimes the research that is done produces good grades, but in the end the project that is followed is still a scam and deceives many people. This is a risk that could happen to anyone.

bayudndy

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It's important that you pay attention to what you're doing. If you really care and pay attention, it will become easier to distinguish real projects from real scams. Therefore, it is necessary to have a good knowledge base to be able to protect yourself and avoid the risks that scam projects pose. Research what investment projects are doing as well as how their progress is. Analyzing them and comparing the results of discussions with others can further enhance your verification assessment. However, no single precaution can provide absolute protection, but staying up-to-date, conducting thorough research, and being vigilant about projects can greatly reduce the risk of becoming a victim of scams.

cute nmp

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So many scam projects out there one has to make very good research before investing in any project to avoid been a victim of scam.The market is full of scam one need to be very careful to avoid loosing their funds.

FahriZah

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At the moments find out scam projects is very difficulties because now launching huge priject and first of all need to verifying what is the project teams mission and what are Doing thire and active sicial media like twitter tweets,telegram chat group response and others social media activities.

marcous

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Quote from: arufox on May 30, 2023, 11:05:28 AM

I agree with you that over time the scammers will get smarter by using all kinds of methods. Therefore, besides we have to analyze in-depth on a project we also have to have the courage to face the potential risks that can be experienced. In addition, never invest in a project just by looking at the benefits offered, you must be able to evaluate team members, white papers, and so on.

Scammers have good knowledge to develop projects based on hype from crypto community, but they are very greedy to deceive investors of every new project to steal fundraising on token sale and they don't report the use of funds so it is high risk of investing with new projects, so it is better to avoid project investment new to reduce the risk of loss because even though the project partnered with a popular exchange does not guarantee future profits.

arufox

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Quote from: TelolettOm on May 25, 2023, 06:40:41 PM

Quote from: arufox on May 24, 2023, 08:50:44 AM

Indeed, everyone always wants to avoid fraudulent projects. However, avoiding fraudulent projects, especially new projects, is not easy. Moreover, day by day the fraudsters are increasingly sophisticated in presenting new projects to attract investors to invest so that their goal is to get money from investors. Therefore, before investing in a new project, we must be able to carry out an in-depth analysis and must be prepared for all risks.

Fraudsters/scammers become smarter or more sophisticated because people are aware of their actions. If they did the same ways, people will be easier to identify them. So, we shouldn't be so surprised if they improve their ways, too. However, scam/fraudulent projects must have suspicious parts, we just need to find out the parts by analyzing them deeply. If we can't find suspicious parts on a project, we can assume it is a real project.

To analyze, we must evaluate the whole of a project. Check the WP, their social media, their official site, team members, and the legalization of the project itself.

I agree with you that over time the scammers will get smarter by using all kinds of methods. Therefore, besides we have to analyze in-depth on a project we also have to have the courage to face the potential risks that can be experienced. In addition, never invest in a project just by looking at the benefits offered, you must be able to evaluate team members, white papers, and so on.

Smitty Werben Man Jensen

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Quote from: deean_3one on May 29, 2023, 08:39:48 PM

Quote from: FireDAO CY on April 26, 2023, 02:55:32 AM

There are so many new projects launching everyday and some of them can be good and some of them can be a scam as well. How can we identify it well? Perhaps we should have more discussion about it so we all can learn from everyone's experience.

For me, it is very difficult to distinguish whether a project is a scam or not. Because many of the projects I participated in turned out to be scams. But he said there is a way to find out about scam projects. People say we should read their websites and white papers. We have to research many projects in order to know the characteristics of scam projects.

Website, white paper and community are very important to see whether the project can potentially be a scam or not,
there are lots of new projects and ending scams because the community is small and the website does not display information related to the team,
so this is why I have a third opinion that you should research first.

Amejoaquim

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I have a simple things to do for avoid a scam project, this is what i do:
1. If the project don't have whitepaper i'm not gonna invest on that project.
2. Anonymous teams. I don't buy in to anonymous teams' projects.
3. Teams that have faces attached to them. Go to google images and reverse-trace the images. Then you can decide it fake or not.

Dr.Osh

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Quote from: Rupok on May 29, 2023, 07:53:59 AM

It has become very difficult to avoid becoming a victim of scam schemes. There are many good projects that are getting scammed. Scams have become a really big problem in the crypto space. People's dependence on new projects is decreasing a lot. People cannot find out many good projects only because of scams. But I think one of the reasons for this is the decentralized nature of blockchain.There are many new projects which even after thorough analysis turn out to be scams.Innovative projects show nine out of every 10 projects work a huge potential for scams to emerge.

Well, a project that's good at first doesn't necessarily last. that's why we are emphasized to continue to conduct research on a project on a regular basis. sometimes, quite a lot of CEOs focus on development at the beginning of the development of their projects, but over time this will decrease and then disappear. this is the thing that I find most often from new projects. many projects are abandoned, or even become a scam. So, do your research in depth and continuously. if you feel that the project can not survive, then you just need to sell it.

deean_3one

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Quote from: FireDAO CY on April 26, 2023, 02:55:32 AM

There are so many new projects launching everyday and some of them can be good and some of them can be a scam as well. How can we identify it well? Perhaps we should have more discussion about it so we all can learn from everyone's experience.

For me, it is very difficult to distinguish whether a project is a scam or not. Because many of the projects I participated in turned out to be scams. But he said there is a way to find out about scam projects. People say we should read their websites and white papers. We have to research many projects in order to know the characteristics of scam projects.

shinratensei_

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Quote from: Rupok on May 29, 2023, 07:53:59 AM

It has become very difficult to avoid becoming a victim of scam schemes. There are many good projects that are getting scammed. Scams have become a really big problem in the crypto space. People's dependence on new projects is decreasing a lot. People cannot find out many good projects only because of scams. But I think one of the reasons for this is the decentralized nature of blockchain.There are many new projects which even after thorough analysis turn out to be scams.Innovative projects show nine out of every 10 projects work a huge potential for scams to emerge.

honestly differentiating between scams and good projects are in general quite easy, it's that it requires you to make some analysis before hand in which also requires knowledge, but I think the concern of getting scammed by the devs now has changed to being scammed from malicious contract interaction.

lately there has been some news in regard of many dapps that actually implements malicious contract to drain money of their customers which is really scummy way of scamming people out there.

this issue really incur losses towards those that interacted with smart contract heavily, right now don't ever trust some random smart contract and dapps if you don't want to get scammed when investing in altcoin or anything related to that, because too much risk of losing money honestly.

i think this should be added into the list of project scamming, other than being outright rugpulled.

barlo357

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Quote from: FireDAO CY on April 26, 2023, 02:55:32 AM

There are so many new projects launching everyday and some of them can be good and some of them can be a scam as well. How can we identify it well? Perhaps we should have more discussion about it so we all can learn from everyone's experience.

You can use tokensniffer to get more details about the tokens. It will show the red flags that would make you reconsider to buy it or not.

Website: https://tokensniffer.com/

If you want more than tokensniffer, you can check their community, mostly on telegram and know more about it.

Rupok

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It has become very difficult to avoid becoming a victim of scam schemes. There are many good projects that are getting scammed. Scams have become a really big problem in the crypto space. People's dependence on new projects is decreasing a lot. People cannot find out many good projects only because of scams. But I think one of the reasons for this is the decentralized nature of blockchain.There are many new projects which even after thorough analysis turn out to be scams.Innovative projects show nine out of every 10 projects work a huge potential for scams to emerge.

blockman

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Quote from: v3liana on May 28, 2023, 11:25:53 PM

Dont let your greed blind you to something too good to be true.

And from being greedy, those projects that are promising great gains will be the ones where the newbies will fall. But if you're doing research and you don't buy with those easy promises and you're not a greedy guy then you're unlikely to be a victim of those. While there are projects that are obvious when they're promising untrue profits, you get the idea from them.

Quote from: v3liana on May 28, 2023, 11:25:53 PM

Research everything you put your money into completely, and sleep on it before you dive in. Good luck!

DYOR as we say and that's not going to fail an investor to avoid those scam projects. If you're researchful and resourceful, you'll get to have the ideas of different projects and might see some hint from within.

RAshartem

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There is a problem with this problem. Many altcoin participants know that the project is a scam, but they will still participate in it without hesitation. Otherwise, how did the 10U God of War come about? In fact, I suggest that the author change the topic: how to select high-quality projects? This would be a good topic, or recommend me a solid project you investigate, and of course give your reasons.

RussianEnglishTranslation

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Quote from: FireDAO CY on April 26, 2023, 02:55:32 AM

There are so many new projects launching everyday and some of them can be good and some of them can be a scam as well. How can we identify it well? Perhaps we should have more discussion about it so we all can learn from everyone's experience.

The easiest way to see if something is a scam or not is if there is a real working product and the project solves a real world problem. 0xMR for example has no team tokens and the team operates a mixer. Q Blockchain for example is the first blockchain with a legal layer and is regulatory compliant. XRP is used for international remittance and CBDCs.

v3liana

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Dont let your greed blind you to something too good to be true. Research everything you put your money into completely, and sleep on it before you dive in. Good luck!

lepbagong

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Quote from: Nazmul012 on May 23, 2023, 04:31:02 PM

Its Very critical judge a brand new project. greatest roadmap, Promotion by influencers, announcing airdrop with reward can't be trusted.
Now bear is on the trand. So if you want to get yourself out of being scam, just avoid new project. Secondly avoid those old altcoins, which haven’t any potential. But if you are interested with new project then confirm that, they have decent community support. Running Idos, following roadmap and they let you Know their update in time

for now I really agree with you to avoid any new projects, because the potential to become a scam can happen very easily, because the current indicators are still not recovering and there is still a crisis which has resulted in the crypto sector also being affected. it's more to invest in old coins that are ranked the best because they are safer, it must also be remembered that the situation is about to enter the era of the halving period where there will be a gradual increase, so there is no time for speculation anymore. especially with a new project where even though the community is very well maintained and that will not be able to make sure it will be safe.

TelolettOm

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Quote from: arufox on May 24, 2023, 08:50:44 AM

Indeed, everyone always wants to avoid fraudulent projects. However, avoiding fraudulent projects, especially new projects, is not easy. Moreover, day by day the fraudsters are increasingly sophisticated in presenting new projects to attract investors to invest so that their goal is to get money from investors. Therefore, before investing in a new project, we must be able to carry out an in-depth analysis and must be prepared for all risks.

Fraudsters/scammers become smarter or more sophisticated because people are aware of their actions. If they did the same ways, people will be easier to identify them. So, we shouldn't be so surprised if they improve their ways, too. However, scam/fraudulent projects must have suspicious parts, we just need to find out the parts by analyzing them deeply. If we can't find suspicious parts on a project, we can assume it is a real project.

To analyze, we must evaluate the whole of a project. Check the WP, their social media, their official site, team members, and the legalization of the project itself.

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