Topic: How to check if an altcoin is a scam - page 3. (Read 967 times)
That's according to dappradar what about your experience? I think everyone has experience and scrutinizes every project that will be followed, especially a dapp that is connected to a personal wallet with a foreign website beforehand to buy altcoins. I read in this thread maybe I'm not the same because of the views of some people, I agree that altcoins also have the right to show the process, including the initial purchase on dex, even many have profited from this initial purchase, because if it is already on cex in my opinion people's trust is enough and that's where trading takes place, not for investors to buy cheaper, some people may believe, but it doesn't have to be listed on the favorite cex instantly because many dex also behave and have good character until now. the most important thing is that the web is secure not cloning phishing. Also many altcoins have become giants starting from dex and following in cex. if in doubt I make it a habit to use a new wallet or can revoke / disconnect completely even with the service.
As an individual, even with enough research you may still fall in as victim for scammers. Crypto scammers are just becoming more expert this days. They make things so real that it becomes difficult to identify a scam project from the real one. But my question here is "how do this institution investors make their research?" Do anyone here know any institution investors that one can follow for good projects?
every popular investors like binance labs and so on always announce their investment in their blog, or if you want to know which project are invested heavily by some big investment company try dropstab this platform present you with the data, but for larger insitutional investment company that manage billions they usually just gonna stick with the major coin like bitcoin and ethereum since they have big capital investing in it worth it for them because 30% increase alone already grow their billions dollar capital and will easily give them hundred millions of dollar increase.its simple math really, the big investment company always stick with relatively low risk asset.
Scammers mostly target retail investors because institutional investors have the resources and manpower to research a project before making any investment. So there is no way an institutional investor will fall for some high-paying farming contract by some scammers. There are mostly some retail investors who chase high rewards in multiple project and end up being rug-pulled by one of the projects along the way. The most common way for scammers to attract retail funds is by providing a high incentive for joining the project.
That's correct, since institution investors use higher funds for investment, they make sure they are focusing on the right project before puting in a dime. I have never heard, a whale in the market got scammed by scam project. So if only we can dig deeper then you can find the right coin to invest in. But since most scam project now have so qualities of a legit project, it would be difficult to just differentiate them by doing small research.
As an individual, even with enough research you may still fall in as victim for scammers. Crypto scammers are just becoming more expert this days. They make things so real that it becomes difficult to identify a scam project from the real one. But my question here is "how do this institution investors make their research?" Do anyone here know any institution investors that one can follow for good projects?
Scammers mostly target retail investors because institutional investors have the resources and manpower to research a project before making any investment. So there is no way an institutional investor will fall for some high-paying farming contract by some scammers. There are mostly some retail investors who chase high rewards in multiple project and end up being rug-pulled by one of the projects along the way. The most common way for scammers to attract retail funds is by providing a high incentive for joining the project.
That's correct, since institution investors use higher funds for investment, they make sure they are focusing on the right project before puting in a dime. I have never heard, a whale in the market got scammed by scam project. So if only we can dig deeper then you can find the right coin to invest in. But since most scam project now have so qualities of a legit project, it would be difficult to just differentiate them by doing small research.
Some of the things op had listed can be available on crypto project and the project still ended up to be a rug pull.
Many of these devs that are always creating new projects in the market allowing investors to put the money and withing a specific time, the token disappears and the liquidity drop to zero. Many of these scammers that are found of creating multiple project knows all these things and for their project to have large number of investors they would do everything possible to lure investors to put their money.
You are right, most of this scammers they know what investors are looking for they try to imitate what the standard of what Real projects exhibit. People just need to be very careful with the project they are looking up to, some projects looks real but always end up to be a scam project. Many of these devs that are always creating new projects in the market allowing investors to put the money and withing a specific time, the token disappears and the liquidity drop to zero. Many of these scammers that are found of creating multiple project knows all these things and for their project to have large number of investors they would do everything possible to lure investors to put their money.
Scammers can do anything just to capture the interest of investors, some projects that claims to be good can end up to be a scam project. Investors just need to be careful.
Scammers mostly target retail investors because institutional investors have the resources and manpower to research a project before making any investment. So there is no way an institutional investor will fall for some high-paying farming contract by some scammers. There are mostly some retail investors who chase high rewards in multiple project and end up being rug-pulled by one of the projects along the way. The most common way for scammers to attract retail funds is by providing a high incentive for joining the project.
Some of the things op had listed can be available on crypto project and the project still ended up to be a rug pull.
Many of these devs that are always creating new projects in the market allowing investors to put the money and withing a specific time, the token disappears and the liquidity drop to zero. Many of these scammers that are found of creating multiple project knows all these things and for their project to have large number of investors they would do everything possible to lure investors to put their money.
You are right, most of this scammers they know what investors are looking for they try to imitate what the standard of what Real projects exhibit. People just need to be very careful with the project they are looking up to, some projects looks real but always end up to be a scam project. Many of these devs that are always creating new projects in the market allowing investors to put the money and withing a specific time, the token disappears and the liquidity drop to zero. Many of these scammers that are found of creating multiple project knows all these things and for their project to have large number of investors they would do everything possible to lure investors to put their money.
Scammers can do anything just to capture the interest of investors, some projects that claims to be good can end up to be a scam project. Investors just need to be careful.
thanks for all the heads up about how to check them as scam or legit but for me if ever
i consider investing in one altcoin? Will just drop the name here and I will let the community answers
this for me because we have lots of great altcoin checker here , those bounty hunters and those
airdrop hunters are mostly great at these so they will surely help me out about how to find and
what is the faith on that certain project but thank you for this sharing.
i consider investing in one altcoin? Will just drop the name here and I will let the community answers
this for me because we have lots of great altcoin checker here , those bounty hunters and those
airdrop hunters are mostly great at these so they will surely help me out about how to find and
what is the faith on that certain project but thank you for this sharing.
New projects may not always bring high potential. Be careful before participating in new projects that can be scams. New projects must research different sites. All the information about who is managing the project can be found out and then it can be said as expected. New things may go well in the beginning but may also face tough challenges later on.
Nowadays, most new projects are low quality projects or scam projects. It is rather difficult to find out potential projects. Sure, we must be very careful to analyze the new projects and decide to join them. We can't focus on analyzing the whitepaper of the projects only, the developers become smarter to create good whitepaper. Sometimes, the whitepaper of the projects look very convincingly but in reality they are just projects with no clear improvement. And it is true that in some cases, the projects stopped suddenly and there are no more updated information from the teams/developers. As the results, the investors lost their funds because it is stolen by the scammers.
I agree with your suggestion, although not all tokens can be on their blacklist, loading all the data takes time and I think the best thing to learn is to pay attention to the etherscan regarding supply and holders, comments usually occur when someone has experienced something bad/ Good.
Some altcoins can still pass KYC, have a licence, pass some audit verification, and still be scammed. It's very easy, and it's common during this period to acquire information that could be used to pass such verification. Such verification is common online, and that's why the dark web has been declared a bad place because they sell things like that.
We should always do our own research and see how serious those who are offering some tokens to us are and if what they say they are creating is being created and developed as they say they are developing, because most of them are just making fake promises and using that means to raise funds from investors, but at the end they end up using up the money for their own selfish interests.
We should always do our own research and see how serious those who are offering some tokens to us are and if what they say they are creating is being created and developed as they say they are developing, because most of them are just making fake promises and using that means to raise funds from investors, but at the end they end up using up the money for their own selfish interests.
I also agree that some are difficult to detect because at first they do it according to plan, then after getting the money they do things that investors don't want, basically all the money is turned back into the market.
New projects may not always bring high potential. Be careful before participating in new projects that can be scams. New projects must research different sites. All the information about who is managing the project can be found out and then it can be said as expected. New things may go well in the beginning but may also face tough challenges later on.
Nowadays, most new projects are low quality projects or scam projects. It is rather difficult to find out potential projects. Sure, we must be very careful to analyze the new projects and decide to join them. We can't focus on analyzing the whitepaper of the projects only, the developers become smarter to create good whitepaper. Sometimes, the whitepaper of the projects look very convincingly but in reality they are just projects with no clear improvement. And it is true that in some cases, the projects stopped suddenly and there are no more updated information from the teams/developers. As the results, the investors lost their funds because it is stolen by the scammers.Because of this fact, I suggest to prioritize investing in old projects that have good reputation. The top projects can be the main target of our investment because they must be safer than the new projects.
Despite a lot of threads discussing How to avoid scams or to know scam projects still, a lot of individuals have fallen into their traps. I don't think all the tips really work, not for greedy souls and not those who think about easy money.
Perhaps, it was necessary to have an idea of which one is worth investing in and which one is a scam. But the big question mark is how to determine them when we don't spend time searching and knowing more about a particular project. To determine if that project is a scam, that lies on our capabilities.
Right now the problem is sometimes those scammers share fake airdrop url to hack users wallet and many users are falling for it. If we don't want to be more skeptical about clicking any airdrop link we found in the internet and cross-checking them from the project's twitter handle or their discord account then there is no way we can get rid of this kind of activity. Same things will keep happening and there will be nothing we can do. We need to spread awareness about it.Perhaps, it was necessary to have an idea of which one is worth investing in and which one is a scam. But the big question mark is how to determine them when we don't spend time searching and knowing more about a particular project. To determine if that project is a scam, that lies on our capabilities.
I saw a wallet's private keys shared in a telegram group where some tokens were kept worth like $1000 and the tokens were indeed trading on reputed exchanges. Now here comes the catch, the tokens require some ETH/BNB to transfer them. As soon as you send the amount for gas, they move it out and repeat the process.
Some of these scams want you to connect your wallet and wipe out the funds as you mentioned.
From a recent scam I also remembered zkPEPE - a well-advertised airdrop with beautiful profit, which ultimately “sucked” money from the fee.
One thing you must know is, all this points just helps a little bit to increase ones security or aid a bit in knowing where we are putting in our money but it doesn't guarantee anything. because tokens can surpass all this points listed by Op and yet be a scam.
I have seen tokens that are pure scam but lasted for a long time in order to prove a point that they aren't scam just to bring interests of investors and as soon as the target is gotten they disappear from the chart.
The only thing we have to do is (DYOR) do your own research on anything you wish to invest in and because of the rate of scam project that is why we hear most of the time that only invest what you can afford to lose, hence nothing is guaranteed.
I have seen tokens that are pure scam but lasted for a long time in order to prove a point that they aren't scam just to bring interests of investors and as soon as the target is gotten they disappear from the chart.
The only thing we have to do is (DYOR) do your own research on anything you wish to invest in and because of the rate of scam project that is why we hear most of the time that only invest what you can afford to lose, hence nothing is guaranteed.
In my opinion, these checks are vital and necessary. Notwithstanding, new projects may be genuinely started with high prospects. But things may not go well as hoped for due to some circumstances.
New projects may not always bring high potential. Be careful before participating in new projects that can be scams. New projects must research different sites. All the information about who is managing the project can be found out and then it can be said as expected. New things may go well in the beginning but may also face tough challenges later on.But the best thing to do is to just only invest in old projects, they have records and use cases that are enough to think about earning a profit.
In my opinion, these checks are vital and necessary. Notwithstanding, new projects may be genuinely started with high prospects. But things may not go well as hoped for due to some circumstances.
New projects may not always bring high potential. Be careful before participating in new projects that can be scams. New projects must research different sites. All the information about who is managing the project can be found out and then it can be said as expected. New things may go well in the beginning but may also face tough challenges later on. 
Despite a lot of threads discussing How to avoid scams or to know scam projects still, a lot of individuals have fallen into their traps. I don't think all the tips really work, not for greedy souls and not those who think about easy money.
Perhaps, it was necessary to have an idea of which one is worth investing in and which one is a scam. But the big question mark is how to determine them when we don't spend time searching and knowing more about a particular project. To determine if that project is a scam, that lies on our capabilities.
Right now the problem is sometimes those scammers share fake airdrop url to hack users wallet and many users are falling for it. If we don't want to be more skeptical about clicking any airdrop link we found in the internet and cross-checking them from the project's twitter handle or their discord account then there is no way we can get rid of this kind of activity. Same things will keep happening and there will be nothing we can do. We need to spread awareness about it.Perhaps, it was necessary to have an idea of which one is worth investing in and which one is a scam. But the big question mark is how to determine them when we don't spend time searching and knowing more about a particular project. To determine if that project is a scam, that lies on our capabilities.
I saw a wallet's private keys shared in a telegram group where some tokens were kept worth like $1000 and the tokens were indeed trading on reputed exchanges. Now here comes the catch, the tokens require some ETH/BNB to transfer them. As soon as you send the amount for gas, they move it out and repeat the process.
Some of these scams want you to connect your wallet and wipe out the funds as you mentioned.
Despite a lot of threads discussing How to avoid scams or to know scam projects still, a lot of individuals have fallen into their traps. I don't think all the tips really work, not for greedy souls and not those who think about easy money.
Perhaps, it was necessary to have an idea of which one is worth investing in and which one is a scam. But the big question mark is how to determine them when we don't spend time searching and knowing more about a particular project. To determine if that project is a scam, that lies on our capabilities.
Perhaps, it was necessary to have an idea of which one is worth investing in and which one is a scam. But the big question mark is how to determine them when we don't spend time searching and knowing more about a particular project. To determine if that project is a scam, that lies on our capabilities.
Right now the problem is sometimes those scammers share fake airdrop url to hack users wallet and many users are falling for it. If we don't want to be more skeptical about clicking any airdrop link we found in the internet and cross-checking them from the project's twitter handle or their discord account then there is no way we can get rid of this kind of activity. Same things will keep happening and there will be nothing we can do. We need to spread awareness about it.
Despite a lot of threads discussing How to avoid scams or to know scam projects still, a lot of individuals have fallen into their traps. I don't think all the tips really work, not for greedy souls and not those who think about easy money.
Perhaps, it was necessary to have an idea of which one is worth investing in and which one is a scam. But the big question mark is how to determine them when we don't spend time searching and knowing more about a particular project. To determine if that project is a scam, that lies on our capabilities.
Perhaps, it was necessary to have an idea of which one is worth investing in and which one is a scam. But the big question mark is how to determine them when we don't spend time searching and knowing more about a particular project. To determine if that project is a scam, that lies on our capabilities.
These people are most likely a willing victim. I think they know the possibilities of a certain project being a scam, but they still want to take the risks because of the very attractive profit the project were offering. We may have a long lists of indications of a scam project, but any project could eventually become a scam regardless of how good the whitepapers is or how active the team behind it.
Not only that, most of the new alts created were terribly fail, which means it didn't bring any profit for the investors. This can be considered good as being scammed lol.
With hundreds of alts being created every year, it will be more difficult to make a research on what projects are most likely to succeed or the scam one. It's like 1 out of 100 ratio which would most likely to give you a good return. So, you need to find that 1.
Some of the things op had listed can be available on crypto project and the project still ended up to be a rug pull.
Many of these devs that are always creating new projects in the market allowing investors to put the money and withing a specific time, the token disappears and the liquidity drop to zero. Many of these scammers that are found of creating multiple project knows all these things and for their project to have large number of investors they would do everything possible to lure investors to put their money.
The steps listed by the OP are not bad, it is just that scammers are too good at what they do and they can create a bunch of projects that at first sight may not seem to have anything wrong with them.Many of these devs that are always creating new projects in the market allowing investors to put the money and withing a specific time, the token disappears and the liquidity drop to zero. Many of these scammers that are found of creating multiple project knows all these things and for their project to have large number of investors they would do everything possible to lure investors to put their money.
But it is precisely because of this we need to be very cautious, since a project that may seem to have everything in order could turn into a scam without any warning, and by the time you realize what is going, it will be too late to do anything and whatever money you invested in that coin will be lost.
Despite a lot of threads discussing How to avoid scams or to know scam projects still, a lot of individuals have fallen into their traps. I don't think all the tips really work, not for greedy souls and not those who think about easy money.
Perhaps, it was necessary to have an idea of which one is worth investing in and which one is a scam. But the big question mark is how to determine them when we don't spend time searching and knowing more about a particular project. To determine if that project is a scam, that lies on our capabilities.
Perhaps, it was necessary to have an idea of which one is worth investing in and which one is a scam. But the big question mark is how to determine them when we don't spend time searching and knowing more about a particular project. To determine if that project is a scam, that lies on our capabilities.
Right now the problem is sometimes those scammers share fake airdrop url to hack users wallet and many users are falling for it. If we don't want to be more skeptical about clicking any airdrop link we found in the internet and cross-checking them from the project's twitter handle or their discord account then there is no way we can get rid of this kind of activity. Same things will keep happening and there will be nothing we can do. We need to spread awareness about it.
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