Topic: How to detect scam token on Binance Smart Chain (Read 555 times)

You can check data from those coin contract address and last transactions for exchange then you will understand this token legit or not. I got one scam token two days ago from Binance smart chain address then i gonna sold it but still lock there token contract. If you want know how many transactions they have then you can see lot of.

Very often, the name of such coins consists of the domain name. Scammers specifically act in such a way that after you failed to exchange such a coin for DEX, you will go to the domain of the same name and connect your wallet there. After that, coins will be withdrawn from your wallet.

Based on the information provided, it is not possible to understand which is a scam and which is not. Usually some projects are started to scam. They make every effort to attract investors. Scammers do not usually keep a close eye on any type of error. However, some scammers have always wanted to keep their identities secret so that any such incident should be put on the list of suspects.

I also very often see tokens going into the wallet by themselves without following anything and not knowing it at all, and that is a sign that the token is a scam, because entering for free unexpectedly is something to be suspicious of even if it should be ignored in the end.

coin scam dibsc can be seen from the unexpected distribution and non-existent price, where there is no progress in the project and bugs often occur

Scan any BSC Token before buy from this HoneyPot Detector https://honeypotdetector.net/

I think it’s really very difficult to judging or identifying a project based on their social media and whitepaper or something like that. Sometimes you will see a project so much promising and they have been raised millions of dollars even token price spike 10x from pre sale price but scammed within a month, I'm talking about CatenaX especially where i was a small investors.

Exactly, scammers only care about one thing and that is the money they can make, this is why they offer those huge discounts, people on their haste to make money do not stop to think what those discounts really mean.

After all if I was a developer and I knew that my project was legitimate and it had a chance to become incredibly popular I will never offer a discount on my coins, I will let the community to buy as many or as little of the coins as they want and begin to work right away to show them they did not made a mistake by trusting me, however when it comes to scammers we see the opposite, they are only interested in the marketing side of the project and do not really care about the potential development of their coin at all.

Your points are not totally valid. Maybe you don't know the supply of shiba Inu  and other top performing Meme coins. I was expecting to see how to runsome contracts and track some hidden agenda.

With higher values usually as scam coins and I have received many kinds of smart chain scam coin in my wallet although looks on swap have value above $500 until $2,000 but you was right need checking on poocoin. Almost smart chain binance coin always listed on dapp exchange like Pancake swap until Poocoin but most trusted to know about good or not some coin use Poocoin because you can see with how much USD value for coin locking or developer make liquidity, we know if potential and trusted coin will add liquidity above billion USD.

in this pase I'm sure they offer it at a fantastic price, such as discounts of up to more than 50%.
This is the trait of a scammer that is the easiest for me to meet, even their social media content only contains
tweets about public sales without their ecosystem or application.
In addition, they usually only make public sales on their own website without IDO or third parties and it is done from start to finish.
Unlike the truly successful projects, they usually promote directly to the big guys as their main investors, then leave a little allocation
for public sale as profit for the community who buys first to get a cheap price.

I understand.. recently I began to see most token sent to my wallet after I swap or execute any transaction with my wallet I kept wondering who could release such volume of token share to address on BSC the most funniest thing is that when you track the value of those tokens on poocoin you will see an equivalent in dollars which might be tempting to swap and immediately one does that his/her account will be sweep off. so i m really careful with BSC token irrespective that many project owners endorse it for easy transactions to their clients.

1. These are most commonly used word when describing blockchain or crypto currencies. These aren't some "ambiguous words or big grammars" like you stated. I don't thing anyone should be judging a project based of "words" or "grammars".

2. As far as I know there were some projects that had their identity verified, but they still managed to scam their investors. Not directly, but in such a way that nobody could blame them for losing money. And like you said, some teams uses fake name and images. and there are also projects that has anonymous developers, yet they never scammed anyone.

To be honest, most of the shitcoins or tokens are found in Binance smart chain. If it is some random token on BSC, it is very likely a scam.

yeah if its just the same as the past like ERC20 trends that are being heavily infested by some scams project then I guess BSC is just repeating the cycle and basically most of the projects that are in the platform of BSC are just some zero sum game altcoins that could be considered just a shitcoin.
everyone could literally make a profit out of these kind of altcoins but always remember that these kind of altcoins aren’t real investment because it depends in other side losing either due to momentum and maybe late in following the band wagon, regardless, still BSC is a platform thats heavily infested by some scams project better avoid it at all.

When we are going to invest, we must be careful in analyzing the projects we will choose, make sure we choose projects based on the results of
our own research and analysis. Don't rely on other people's opinions who aren't guaranteed to be accurate. That is the importance of studying
the crypto world well, so that we can avoid investing in scam projects. We can see how the development team describes their project, if indeed they
explain unsatisfactorily it should be a warning to us as investors. Due to good projects, have a team that can explain the project well and convince
investors that the project does have a bright future. Sometimes we really shouldn't be in a hurry to choose a project, there are many things that
we must confirm first before entrusting our money to certain projects.

If you are sincere in investing on a particular project, you need to do your homework because no one else does.
You can easily spot substandard projects on how they answer valid questions given to them.
If they are giving you generic answers with no defined path to take, they are only here for short-term.
Most serious projects have a comprehensive plan to execute their objectives.
But if you will see a generic roadmap with seemingly vague whitepaper content, better not pursue your plans.

When you are able to detect that project is scam, then you have faced newbies and they wont be able to get anything. You can only give yourself a badge of detecting a lazy, stupid and newbie cheater. I see only one way to detect - to lose money in it. All other methods are needless. All other methods will lead you only to detecting unsuccessful projects (which people often confuse with scam).

Knowing whether a project is legit or not requires you asking a lot of questions about the project. These can be some common–sense questions, but they can really helpful in helping you know what you’re dealing with here. It’s good to understand that the purpose that the team or developer has created the project; is it something unique, is it being helpful to the community?

All these questions are questions that should cross your kind when you’re looking for a project and they can really help you in knowing whether a project you’re seeing the smart chain is really worth it or not, or whether it is scam or not.

Scammers move were the money is, back then when ethereum had almost a monopoly compared to other smart contract coins most of the scams concentrated on the ethereum network, and this gave ethereum a bad reputation among some investors as a facilitator for those scammers.

But now that there is a huge level of competition in that market and the binance chain is extremely popular then it is understandable that now a great deal of the scammers have moved on and now they are trying to scam people in all kind of platforms.

What does this even mean? What does total supply have to do with anything? Well maybe if it's not dividable enough there would be a problem but if there's a max supply at all it's all good ans scarce.

There's so much more in crypto and learning everything here can take time but the guy already has some experience in the past because he did not believe in the claim that all erc20 are a scam. It is like they are saying that all cryptocurrencies are a scam or btc is a scam but of course, that is not true, and indeed that only a newbie person will have this mindset.

2018 can be called a bear season and the majority of the coins have fallen, this can give others a false impression that all erc20 coins on that year are trash but few have survived and they are now stronger but we didn't notice it because most people now focus on BSC tokens.

It means that you have learned a lot about everything in the past and also in the present because the ERC-20 token in 2018 is a trash token which will eventually become a scam and the BSC token whose owner is not clear will also become a scam in the end so it is actually already almost similar to the past although you are late to realize it now.

Once upon a time every erc20 token was a scam, that was the way of newbies that came into crypto space in 2018 ( bear market ) they probably make one or two investments that doesn't do so well as they hoped for, I wouldn't have made my 12,000$ in 2021 if I believed that all BSC projects are scam...learn to do research first before saying such statement.

It is incredibly important in this day and age to protect your capital by checking out the common signs of a rugpull.


These are honestly some of the more underhanded ways that the devs can scam you. They may not necessarily seem scammy to begin with, and may even have a great roadmap, but at the end of the day they can pull all sorts of tricks to manipulate supply and dilute investors and reward the devs disproportionally.

Well done OP on educating the newbs, this will save people thousands of lost coins.

The points you mentioned are a bit true but many of the Binance Smart Chain projects you mention are not scams.

(1) Usually I look for a scam binance smart chain project or not, judging by the Website, whitepaper, Roadmap, the team and the community, usually the scam projects are all bot communities, whether it's on telegram or twitter.

(2) The BSC project that is a scam, the project team guarantees a price of x100 when launching and does not carry out audits, KYC or AMA and lacks marketing and unclear vision, mission for the future.

(3) do some research to see the Smart Contract, how the token is locked or not I usually see in the honeypot, although it doesn't guarantee the project is a scam or not.

Looking for a good binance smart chain project is like looking for a needle in a haystack and don't be shy to ask the experts and experienced, The points I mentioned are not all true and do your own research.

Binance Smart Chain is really attracting a large number of developers and users thanks to its cheap and fast transaction costs compared to ETH. BSC is one of the fastest growing blockchains. So it will not be difficult to understand when scam projects on BSC are quite a lot. But don't equate them all, there are many serious and successful projects on BSC.
Scam projects, they are garbage, so they will develop and creep anywhere, not only on BSC, before when there was no BSC, ETH also had a lot of scam projects created.

Not easy for detecting with scam token on Binance Smart Chain but I see have possibility with looking how many days token locked, this really important to detect with scam token on Binance smart chain because if have guarantee about two or three years locked look safety for coin stable price, but without lock under two months only when time arrive for unlock price suddenly drop and removed liquidity on dapp exchange market, I think without see about how much supply, airdrop allocation but need to know with how long token locked for to know with keep stable price later.

Now it is very easy to detect them, if you only have marketing promotion on YouTube and by a couple of YouTubers, with a whitepaper where everything looks very impressive and only when you see the promotion they tell you that it has a pre-sale stage and then a public sale is probably that it is a scam, also another way to realize it is by their sponsors, if they see that their sponsors when sending an email asking to see if they are really sponsored and they answer no, it is another indication that it will be a scam.

Another way in which many fall for scams is through telegram groups, and that is when the project is already reliable, many make contracts and publish them to confuse people and many people buy and what they do is buying the wrong contract, this is the most common problem of decentralized exchanges.

It doesn't mean all of scam coins are developed by using Binance Smart Chain, but it’s true that right now i see most of SCAM coins in BSC if will compare with Ethereum blockchain although BSC is decentralized. And i think also it can be, scammers target BSC because here it's easy to create a new token. Scam coins existence in every blockchain comparatively low instead of BSC.

These points are good in the detection of scam projects but it's impossible to be exhaustive as scammers are always looking out for more ways to rip off unsuspecting investors. The point is for everyone to be careful in their cryptocurrency deals. The issue is not only peculiar to binance smart chain, but all the blockchain in the industry.

I do not think that identifying scam projects is difficult as it can easily be done with a 30 minutes research as long as you use some available tools on the internet.

However it is true that it is impossible to distinguish all the scams and as such you will be left with a difficult decision of investing in a particular coin or not, and with this in mind the best solution is what you have proposed, to stay away from new coins, this way most of the coins that were scams or were simply bad projects will collapse before you have a chance to invest in them, now will this reduce your potential profits if you eventually decide to invest in those coins anyway? Of course, but it will also reduce your potential losses as well, and I my opinion that is way more important.

Yeah, you are right but Binance will take action first before someone will get scammed. It wasn't new to see fake trade volume, fake developer's accounts, and so fake reviews. And I guess, it was our obligation as well to report things like this if we ever see them and protect others from falling into their hands.
Well, some are clear to see as a scam but many were good at hiding which is too hard to detect. We should be careful, otherwise.

I think being created by using BSC smart contracts doesn’t necessarily guarantees that the projects is low quality.
you know some projects aren’t too focused in creating smart contract platform, so their own blockchain could always be created at later date.
also, smart contracts exists for a reason, it’s some of purpose is cutting the required resources and time needed for building a projects that are rather focused outside the blockchain itself.
having their own private blockchain also requires great commitment so it’s another resources that’s gonna be wasted, using smart contract for starting up their project is definitely fine.

Please drop your contact email so our developers can respond to your questions and complains directly.
Thank You

Even if they are strict enough to filter out most of the scam tokens we also we need to remember that is not the only reason why projects fail in this market.

Projects also fail because of their developers enter a dispute, they did not had the ability to develop the project as they wanted, their vision was simply impossible to accomplish and many other several factors that can make a project fail, and you need to also protect yourself from those projects, because even if they are not managed by scammers the losses that you can suffer can be just as big.

I have to say that there is really not that much of an easy "if x happens then y token is scam" type of thing. A project could look like there is nothing wrong with it for years before they end up rug pulling and you would be disappointed.

You have to realize that the early days are the riskiest because they could get out and people would expect that at this point. However, if the project has been around for a year and made millions of dollars to the project founders then it would be harder for it to be a scam. In that case if you invest into something older in the BSC world then there is a lower chance you could lose your money, you won't 100x that easily, but you could at least not be scammed at the same time as well.

I often receive tokens at BSC in large amounts, when I see the address contract there are already tens of thousands and even hundreds of thousands of holders, when I check on Coinmarketcap there is no token data so I believe this is a token scam, usually they include site address for us to open and even the display like a DEX and need for connecting our wallets.

All the things you said are true, mostly all of them assign shills to advertise the project. All of the projects make use of these shills, if not how come projects like Shiba and other meme coins that had a huge hype was able to attract investors. Most of the projects are following the same route to get the project to the masses, either they do airdrops or promotions and you cannot complain them. But you need to check out the team and the project feasibility before investing.

That's not a copy but that is original if the concept is not found even in a real project. A true copy is when they have no differences to an any existing projects. There are lots of scams in this space but I think it is not impossible to know the legit between the scam, there are pointers in the op that we can use to enhance our investigations when picking up a project.

There are shilling services and alike that are specifically built for these scammers. They can obviously avail it if they have lots of money. If an investor is really afraid, they shouldn't be on that place. If they are afraid they should only invest on projects that already have a working product.

Looking for how many address holder coins is important to know about scam or not with Binance smart chain coin, usually on BSC transaction we can see how many holder address and how much supply on investor and developer, if above 60% coin on developer hands is indicated will be scam although have listing on many exchange market, they can sell suddenly with much supply on their wallet, I see several coin did it when success listing on bigger exchange market.

Look at tokenomics and top wallets first. You don't must be a programmer to smell something wrong from top addresses. If you see top wallets hold huge tokens, they can dump it when smart contract for locking those tokens expired. After vesting time, they can dump all tokens they have in such top addresses.

It is one of signals of something bad exclusively scam tokens. Even it's not a scam token,  it is still bad because huge dumps will bring price down to the hell in seconds.

I really have to disagree to some extent with 1&2 -
1. Bogus total supply
2. Large airdrop amount
There are several projects with a huge total supply like tron for example, can't use supply as guaranteed yardstick,
Also large airdrop amount, there are projects that mainly airdrop their tokens to dedicated community members and never did any sales, just a community driven project, that's also not enough to term such project as a scam.
I think, these days it is very difficult to attribute certain characteristics to determine a scam project because these scammers are getting better daily and they go the extra length to try and fool investors.
Since they know people are constantly looking out for these signs, they keep changing and updating their cruel methods.

Actually this is what every traders and investors would like to know to spare themselves from scammers but unfortunately no one have invented any tools or device to determine scam projects or even no one knows exactly how to determine a scam project but through reading their wp and determining the uss case of a project. If I could only know something that could help us determine the scam project I will not going to hesitate to share it here in forum.

It is very difficult to detect a project scam, they copy everything that has ever been done by real projects, they even pay admins on telegram or discord groups who are on standby 24 hours to monitor discussions and direct investors to invest in their projects, and this is what makes investors afraid to invest in ICOs.

Any project cannot keep up or will not stay long in the market without use case and trust coming from its community, we have seen so many pumps and dump coins coming out and after a few months we never hear any more from the developers or they are losing volume and price sliding, it's very important what the project can contribute and how they interact to the community, without these two the project is sure to die.

Things that we need to check upon evaluation if the project is good or scamming.

*Liquidity - inconsistent trade volume, probably faked
*Exchanges - not known/new exchange
*Team members/Developer - no legitimate background

Some projects are found to be obvious but some are not that is why we have to conduct more research/digging just to sure that we are in buying the right one.

any altcoins that usually imitates the already existing and succesfully created shitcoins and memecoins are usually just scam and gonna be having a really high chance of becoming a scam even if they performed really well.
there are someone here saying that if it’s in binance smart chain it’s just a scam and you shouldn’t get invested in it and that’s kinda true because binance smart chain itself heavily invested by some scams and it has already make so many newbies in investment losing their investment basically get scammed heavily.
if you can, just avoid using BSC that’s already infested with scammers instead, try something like matic and the likes

               Just go ahead and avoid binancechain created coins man, make your life easier. But if one really wants to gamble a bit those pointers are good but not flawless. Just like any other ways out there, it only increases the odds on your favor. For me, checking the community, partners, marketing and timeliness on road maps. I check tokenomics too and how hands on the developing team are with the project and if available, check their backgrounds. I don't just go and cancel out some coins just because developers are anon. There is so much more to a project than just revealed identities(although that gives much confidence for investors).

I treat all projects on BSC (now BNB chain) as scams, unless proven different
there is a lot of scam and spam on the platform, that is really becoming unusable, and it is better to skip new projects, than invest and be part of rug pull in the end

maybe funding by Binance could be a good parameter that project would not go away with a rug pull, but cannot be parameter that project would succeed

The convenience and low cost of making tokens in BSC makes scammers actively use BSC tokens for scam projects, moreover it is easy to add them to a Pancake swap at a cost of around $ 5000 so that scammers will continue to be present, of course it is difficult to know whether the project is real or a scam but what I usually do is follow discussions and suggestions from third parties like in this forum.

Studying the whitepaper is always a top priority when it comes to investing into new projects.
On the other hand though, I've seen numerous projects with very good whitepaper and it looks interesting but ending up as a scam so...whitepaper can also be a basis but just be vigilant still.

This might be the case back in the days where ICO's are still popular but right now, there are some projects who are successful at least but the team members are still anonymous.
After all, developers being anonymous are still a red flag for me because anytime they can run away with the investor's money without any trace whatsoever.

Telegram? Its full of scams and bots like you said and I don't like the platform as well.

Overall, what you all said was true but in the end you will not know which projects are scam and which are not. There is a famous quote saying that a project can't be called a scam until it turns out to be one. As long as there are developments, communications from the dev etc. it will still not be a scam even though everybody is saying that it is.

I’m not saying that everything in the BSC Is a scam it’s just that most people tend to use it for those reasons.

I think I can analyse pretty much the project but unless something happens like a rug pull it would be deemed as legitimate project and then may be out of nowhere become a scam. Going to be pretty hard to really know if it is worth it to invest but make sure to invest what you can afford to lose.

Wasn't there a lot of tokens from ERC20 before which were also scams and shitcoins?
Indeed, we can't avoid them if they have the potential to be scammed. However, not all tokens on Binance Smart CHain are scams. And so it is in several other networks such as the Ethereum chain and others.
This depends on the individual project, yes although it's a little hard to tell the difference.

I suppose to believe that there is no such thing found in Binance as they are strict enough to regulate projects that have questionable developers and fake amounts.

But anyway, aside from those you have mentioned OP, seeing the name of the project will sometimes give us a hint if that is legit or not. And to make proof of it we need thorough research in order to have a final say. That is why if we have the doubts inside our mind, we better to follow it as sometimes our instinct save us.

While it is true that scammers can spend a lot of effort into making their projects look as real as possible, the truth is that as long as you do your own research and investigate the project properly then you can identify most of the scams anyway.

However this leaves a small amount of coins that are so well disguised that you could still invest in them and lose your money, so how to deal with them? And the answer is simple, you wait months or even a year after the coin is released before investing in it, most scam coins would have collapsed already or are on their way to get there, while the coins that are legitimate will still be strong even after that amount of time has passed.

You are very correct. That's one of th advantages of BSC over Ethereum Blockchain. But it is also a big disadvantage now to many because of its low cost. However, they cannot be blamed because their intention was to solve the problem of high has fee associated with Ethereum

Some people are trying to make binance smart chain looks like the real culprit but they are wrong, bsc only solves high gas fee I don't know why people aren't appreciating this, scammers use bsc to also avoid spending more money on gas fee too sigh.

It's helpful, thank you. I appreciate the effort of going at this length to provide warning to co-investors in BSC projects.
I have my own standards when it comes to this, and I would gladly recommend for other investors to do the same so that you won't miss a thing and all stains will be checked.
1. Team. Very important for me. But some successful developers do explain why they cannot expose themselves like a threat because their place is not in a safe environment. You would have to try another approach if you will force them to do so. i.e. video call with an agreement to not expose them.
2. Locked tokens. Be sure it is locked and the span is how it is told in the whitepaper.
3. Item/Product. What is the purpose it? Will it really have a chance to explode long term? What is backing it up?
and more...

IMO, I think it was a very shallow observation, I dont know if you really mean it or it's just a sarcastic notion but all I can say is not all projects on Binance Smart Chain are scams many are still good, and performing well. and one more thing scammers are not settled on a specific blockchain they are everywhere even in Ethereum there are many scammers too so it's very unwise to tell that if it was on BSC it's a scam.

Very true. Most of the times these scammers spend thousands of dollars to execute everything with massive and extensive marketing and make the project look quality but with evil intentions

So are you trying to say that scam cryptocurrency projects started from the Binance smart chain? Are you for real? we have been having scam projects in the space since before BSC was developed, if you ask a lot of people here to list the first scam coins or failed projects they still hold in their wallets today will definitely without a doubt be from Ethereum Network like most I have in my wallet from 2017, should I now conclude that projects on ETH network are scams?

The digital world is increasingly popular in almost all circles, but we must not be careless, because scammers are even smarter than us, they must have a thousand ways to detect the tokens we have, confirm the token is supported by a functioning and actual blockchain, which can be verified. tracked by you and everyone, so we don't become victims of their scams..

Most bullshit and lazy excuse from person that didn't want to DYOR. Scam project exist in all blockchain since it's easy to setup smart contract nowadays by just buying a ready to go code for a copy project while paying minimal fee for minting your own tokens. It's absurd to blame the Blockchain itself and mark it as general scam while it just host all the dapps running on it. There's still a lot of scam token on ETH compared to BSC. The only reason why BSC is an easy target by scammer is due to the fact that it has vast number of investors using it. Don't generalize!

not all are scams, there are some that look good. pancake or safemoon is one that is worth investing in. so not all projects that use the BSC network are bad and scam. Actually, from the start, projects that use smart contracts can be categorized as bad projects. because almost 90% of projects that don't have a private blockchain end up dying or failing. only a few survive, and even then very few. so it's not only in the binance smart chain, projects that use other networks must also remain under suspicion.

Your explanation already covered all of important points. The only problem whether people can analyze all of those points or not. Sometime people need to focus into the some important things like the smartcontract, identity of team must be known by the investors but without the help from the 3rd party and this is not possible. KYC must become the main thing that might be done by the team.
It's easy to say but hard to do. I have been trying those things but sometime im facing the difficult situation caused by the team didn't provide enough information and i can say that's a scam project.
Im always trying to avoid any project with only a few information about that.

Scam tokens usually have no progress at all. they just hype their tokens like exchange and also burning. They will never show how their team works or token utility. Usually their social media is full of big sales and promotions and discounts.

Ever found scam coin but not fully scam but not believing when listing Binance exchange market price drop drastically from $30 become 6$ after several days active trade on Binance. First I invest with HIGH token before listing on Binance, price keep consistent above $30 and drop under $29 only, but when dev announcement for listing on Binance price suddenly pump and I saw much coin from developer sending to Binance exchange market, exactly after active trading almost 40% supply coin sold by developer and make price drop almost 40%. Not all coin when listing on Binance potential to pump.

Thank you for suggesting useful search tools. Previously, I did not attach any importance and thought if the token is traded, then everything is fine. And in this case, as in principle, there are pitfalls everywhere. Now I have revised my views on some tokens that I wanted to purchase for myself. It is necessary to use all the tools for study and analysis, and not be led by statuses and comments.

In fact, anything that is not transparent tends to be a scam, and BSC is a place where scammers can do it at a low cost to create junk products. The simplest is seeing how the project actually exists, I believe that spotting a scam project is really easy even for newbies. Low volume, dev team holding a lot of tokens, team being anonymous, following trends with silly promises,... and more importantly still being ourselves, need to update our knowledge and don't let it being drawn in by his own greed.

Yeah that's it but it needs a deep research. These days people are so lazy to do that and they keep going in the project that already known as a scam project. People these days very strange.

Mostly paid someone to write the same roadmap over and over.

The plan can change anytime and i can't agree with this. The plan needs to adopt with the condition in the market. i see that some projects like crypterium which was still running its old plan but it gets killed by himself caused by it can't follow the new trend in the crypto. The plan must have followed the crypto trend to make sure if the plan will be working.

Not all though. It doesn't mean that all projects who are using Polygon, Solana or any other blockchain are legit either. I don't mind about the blockchain, coz' the legitimacy of the project and team is what matters to me most. Just saying.

If you want to check if a certain crypto project is a potential rug or not, you might wanna try Ruggy Buster which is on Telegram that can check and analyze smart contracts. I'm just suggesting to help.

I am not sure what I find, but I see a website that you can use to check the project on one thread here about airdrop from BSC.
https://www.bscheck.eu/
https://tokensniffer.com/

But I do not really understand how to check the project token or know if that project is a scam or not. I also forgot the thread name as that is about 6 months or so. But you can try to search for more.

Or you can search from Google to find how to detect scam tokens on BSC.

It seems like binance smartchain has a new reputation among the crypto users to be the layer 2 blockchain dedicated to the scam token. Bunch of scam tokens are coming from there. BSC makes the market getting flooded by so many shit scam token. I do agree with what you have said. Almost all of tokens on binance smart chains were scma tokens. It's hard to believe if people would be able to avoid the scam token by doing their own research. too many scam token even make people feel confuse about how to know the different between both scan token and legit token.
sometime the token that we called that as legit token has become a scam token and otherwise opposite thing will happen.

I somewhat agree with what ItsNotSean said, and it's something like that. It's almost always going to be a cautious approach towards what you will invest in BSC. They do it because it's the easiest way to create a new project, and the fees are more minor, superiorly way less, than ETH, so that's why "possible scammers" use BSC. I think it's good to be generally skeptical towards the project, but it's essential to invest in things you think will be valuable in the long run.

Agree! Binance Smart Chain is a red flag for me, once I saw altcoins that are built on Binance Smart Chain (BSC), the red flag was already for me.
But I believe there is a lot of good projects there also, like some projects started to that chain and later on, they will migrate on other chains.
I believe that most of projects right now on Binance Smart Chain (BSC) are just want people's money, most of them are not legit.

"How to detect scam token on Binance Smart Chain"

If it's on Binance Smart Chain, it's a scam.

It is not impossible to detect because you can already see some warning signs along the way. Like for example, if the project is posting fake photos, this for me, is a red flag. Check also their road map, or whitepaper, if it is just a generic roadmap or copy-paste whitepaper, high likely that the team has no long-term plans for the project. There are some indications on how to detect possibly scam project. But you need to be aware of what's going on if you are heavily invested on one.

This is an impossible thing to detect. Sometimes a legit project can also become a scam project as well. Arguing it based on the criteria that you have mentioned above sometime is not working. So many thing needs to be verified to make sure whether that's a scam project or not but again i do believe identity of the scammer must become the most important part that need to be considered as the best thing to determine whether the project has intention to scam other or not.
It's better to avoid to deal with the any token that will always be scam token like meme token or something else. I do know that people these days are hyping meme token but this is so difficult to know which project was scam and which was not.
Cheap private sale didn't mean a scam too. Identity must become the main concern caused by 90% of project created by anonymous developer was a scam.

A point wants to run out for this:

(2) Not every team anonymous is a scam, also it depends on the type of the project too. Example, team with privacy coin, mostly they want to hide the privacy team that's why they hide the information. As long the project it's running and development is good, no problem at all + not ICO/IEO funding from investor. A project with funding raise, they must share the team information.

(3) You can't handle this, most of the projects have many member because airdrop/promotion scheme. I don't think put this as advice to detect scam project is good

(4) It's depends on the scammer, they can listed to centralized exchange with less due diligence with cheap price. Example listing on Hotbi, most scammer listing in this exchange because is really easy.

As cryptocurrency BTC is growing in popularity that is how a lot of people are investing so much energies to delude unsuspecting investors of their funds.
Due to the availability of smart contracts on the Binance Smart Chain at a very cheap rate and the fact that it requires project creators to fill out only the desired token name, total supply and decimals.

Though some have gone the extra miles to hire good developers who activated additional features like anti whales, antibots, buy and sell tax and the other numerous parameters.

It is now very possible for (would be) project creators to easily create and deploy BEP-20 token on BSC. According to recent exercise I carried out on 100 newly launched BEP-20 tokens 95% of them could not pass the test I subjected them to.

For the case of this piece, I will focus on how to detect a scam project and save your money.

Before I go ahead to mention that, it is worthy to note that the new trends that project creators now use to scam their investors is through the underlisted ways

1. Bogus total supply
2. Large airdrop amount
3. Cheap private sales amount
4. Fair Launch concept

They use the above concepts to attract investors first by giving out hundreds of millions of their token and distribute same instantly or within 48hrs (this will be discussed in details in a different topic).

To detect whether a token is likely to be a scam or not you need to carry out the following analysis

1. You need to sincerely and without bias, study the project whitepaper. A scam project will always use ambiguous words and big grammars to confuse their readers. They would use words like "Blockchain, DeFi, Technology, Node, Proof of Work (PoW), Proof of Stake (PoS) etc. With this they make their readers especially those new to the space to assume that they are well informed about the ecosystem thereby buying their trust with ease.
A good project would outline the core use cases of their token clearly stated on their whitepaper.

2. You should check whether the identity of the team members are known. Most scam projects do not reveal their identities so that they won't be easily traced. Most of them use false or fake names and social links to further buy the trust of their investors.

3. Their telegram group and channel are usually very full but with few real members and more of bots. This makes users who does not know the difference to assume that the project has attracted many persons.

4. They usually do not plan to list their token on a centralized exchange any time soon. They only list on pancakeswap or any other DEX where they can easily rug pull and run with investors money.

5. Most times they audit their smart contract just to entice investors.

6. Lastly, they distribute tokens to their wallets in small units so that it won't be easily noticed or observed to be their wallet.

7. They carry out long pre-sale period spanning between 3 to 4 months which allow investors to buy any amount. This is to enable them to raise as much fund as they can because almost anyone can afford their pre-sale.


These are a few point out of many on how to detect a scam project. Before deciding whether or not to invest in a project it is very necessary that you carry out due diligence to help you make informed decision.

If a project does not have a clear use case for their token or they have an ambiguous use case or unrealistic use cases then it is possible that the project is a scam.