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Topic: Huge crypto scam that happened last year(2021) - page 2. (Read 573 times)

hero member
Activity: 2170
Merit: 530
The huge crypto scam that happened in 2021 that nobody wants to talk about is the metaverse coin and NFT projects. 99% of them are pure ponzis and rugpulls waiting to be happened,,, and the old shillers are talking about them thinking people forgot about their past promoted scams. New shillers and influencers are just recruited by old pump n dump groups.

For me there's a lot of crypto scams that happened last year and sad to say I am also a victim of one them and yeah to be honest it is one of the NFT projects especially those on a game feature aspect. Yeah, I know one of the error I made is that I have a lack of proper research on that project and for that thing being happened I really learned a lot from it. But to be honest, as much as we wanted to not encounter such thing for sure this year we will going to encounter those again but please be aware of those projects.
hero member
Activity: 2338
Merit: 953
Temporary forum vacation
The huge crypto scam that happened in 2021 that nobody wants to talk about is the metaverse coin and NFT projects. 99% of them are pure ponzis and rugpulls waiting to be happened,,, and the old shillers are talking about them thinking people forgot about their past promoted scams. New shillers and influencers are just recruited by old pump n dump groups.
hero member
Activity: 3150
Merit: 937
If you don't want to get scammed,simply don't buy tokens issued by brand new projects,that have a vague and difficult to understand business model.
Let's be honest here,many of the so called 'Investors' know that these tokens are scam,but they are still buying them for the sake of making money via pump and dump.
Many "investors" know that these projects are totally unregulated,but they are still buying shit tokens.
The scammers have to be caught and punished,but all the people,who are putting money in these scams can blame only themselves and nobody else.
The risk/reward ratio of all these "crypto projects" is ridiculously high.This is basically gambling,rather than investing.
sr. member
Activity: 1666
Merit: 426
It's not a crypto scam if it's stolen, that's a different infraction. I presume that this is the only biggest ones because I am sure that there's more out there that's out of sight and at the same time gains more crypto than any of the listed and probably much more consistent. When will people ever learn that not every project in crypto will be legitimate.
member
Activity: 630
Merit: 24
I don't remember the exact year but the biggest scam was committed by cryptoqueen. As I know people have invested billions from all over the world in Oncecoin in anonymous ,,shell company'' and suddenly creators just disappeared.
full member
Activity: 1834
Merit: 166
Scammers will always find new ways to make people fool and hack their funds and surprisingly the amount have drastically increase over the past few years like the one of African exchange who scammed investors of million dollars or ponzi scheme of bitconnect but the main point is we know how the market works.The newbie and existing members need to stay safe from these as they are always here but we need to take safety measures at our end.
sr. member
Activity: 864
Merit: 284
That's why need knowledge to avoid scammer, many jump in to crypto just to think how gain much money with fast and then they end up with huge loss because involved in scammer event squid game token is the example . Learn and learn is the key because scammer always there and use new form following the trend to scam people. Crypto scam in 2021 will be happen in 2022 too don't be surprised.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
Actually every year there will always be bad cases about crypto, whether it's a fraud, crypto scam, or others and last year was a bad year for people who have been deceived and failed in the crypto world. There are many modes of fraud here which in essence make crypto lovers get big losses. Learning from the scam coins that are circulating in the market, we have to be even more careful in investing in the coins that we choose, especially if we decide to invest with big capital. Always search and research first so we can confirm whether the coin is worth it or not.

We cannot stop these frauds. People will contiune doing these frauds as they know that there are many newbies in this crypto field and it is easy to make fool them and steal thier hard earned money.
The important thing is that we should be aware on how people plan the scams through fake projects. If we are careful and very vigilant, only then we can keep our money save and avoid these scams.
It will still happen because many more newbies come to the crypto world and do not learn proper knowledge about investing in crypto, crypto trading, or how to earn the token carefully. We can hope that before they deposit their money on the investing side, they already learn and search for other information about the project to prevent the scam and make money from their investment. We can only suggest them but can not force them to do what we want because they will decide.
hero member
Activity: 2814
Merit: 618
Leading Crypto Sports Betting & Casino Platform
Actually every year there will always be bad cases about crypto, whether it's a fraud, crypto scam, or others and last year was a bad year for people who have been deceived and failed in the crypto world. There are many modes of fraud here which in essence make crypto lovers get big losses. Learning from the scam coins that are circulating in the market, we have to be even more careful in investing in the coins that we choose, especially if we decide to invest with big capital. Always search and research first so we can confirm whether the coin is worth it or not.

We cannot stop these frauds. People will contiune doing these frauds as they know that there are many newbies in this crypto field and it is easy to make fool them and steal thier hard earned money.
The important thing is that we should be aware on how people plan the scams through fake projects. If we are careful and very vigilant, only then we can keep our money save and avoid these scams.
copper member
Activity: 2800
Merit: 1179
Leading Crypto Sports Betting & Casino Platform
Similar projects to scam the investors will continue to exist and its up to us whether to let ourselves becoming a victim for not being careful. There's a way to avoid it and one of that is not to be greedy because its the root why some of us are making a wrong decision when investing.

Other reason why this BS project are still being able to scam someone is due to the existence of many medicre smart contract audit company that didn't do there due dilligence when accepting project to be subjected on there audit. Some project are obvious scam yet they still accepts it and do the a medicocre audit. They easily give there certificate of approval that's why scammer project use this as proof of legitimacy.

This garbage audit company business should not be tolerated and need to become regulated as much as possible to protect investors.
hero member
Activity: 3010
Merit: 629
I was almost tempted to buy Squid Game Token at that time, but fortunately my capital was still stuck on other coins so I didn't buy it, lucky for me because of that. From that case, I think we can learn that the bull market invites many scammers to deceive us in various ways, so be careful and don't focus on profit and make us forget the risks in it.
It's always the FOMO that turns people into temptation. They'll feel being left alone and regret about the potential that they'll get while it's still soaring high.

But without knowing, the devs are already getting ready for their exit and if you miss them, you're going to regret more than the regret you've felt about getting that high profit.

Think of your situation when you're tempted as a blessing in disguise. You've avoided the rug pull.
Because of the hype and bullish season last year many shit projects were launched and those investors who wants to join the ride ended up losing their money due to rull pull.

Similar projects to scam the investors will continue to exist and its up to us whether to let ourselves becoming a victim for not being careful. There's a way to avoid it and one of that is not to be greedy because its the root why some of us are making a wrong decision when investing.
hero member
Activity: 3150
Merit: 636
DGbet.fun - Crypto Sportsbook
I was almost tempted to buy Squid Game Token at that time, but fortunately my capital was still stuck on other coins so I didn't buy it, lucky for me because of that. From that case, I think we can learn that the bull market invites many scammers to deceive us in various ways, so be careful and don't focus on profit and make us forget the risks in it.
It's always the FOMO that turns people into temptation. They'll feel being left alone and regret about the potential that they'll get while it's still soaring high.

But without knowing, the devs are already getting ready for their exit and if you miss them, you're going to regret more than the regret you've felt about getting that high profit.

Think of your situation when you're tempted as a blessing in disguise. You've avoided the rug pull.
legendary
Activity: 3122
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
I believe there are big scam projects in the previous years as well, but last year these became rampant because some were really seen to be getting good in their initial phases. But the point is there will always be scammers and scam projects, and they will be able to have victims as long as people don’t do research and just jump into such with the intention of gaining profit instantly. I think that’s one of the many misconception here, especially by the newbies in the field, that it is a market meant for instant success when clearly it is not.
Scams would be a never ending situation because  there would be people who do really love to have that easy money which they do mostly target out those noobs in the market

this would be always existing on each year because there would be people who do easily believe about easy money through to too to be true offerings which would results
to make out some bad investment decisions.

It would be continuous and you should really be aware and be keen when it comes on dealing with everything.

scamming/hacking will not stop as long as these scammers can find a way how to screw the vulnerability of the site or the people themselves. in this digital age, they can always operate anonymously, so they are relying on naive users that will fall on their trap. and there will always be people who will be attracted to too-good-to-be-true rewards or returns. in terms of like hacking, softwares are getting sophisticated, so the sites should invest on their security protocol because hackers will not use the same tool but they will upgrade their hacking tools. they will try and try up until they got access into these sites.
but remember, some "hacking" issues are actually inside job. just to get away from their investors.
hero member
Activity: 3010
Merit: 794
I believe there are big scam projects in the previous years as well, but last year these became rampant because some were really seen to be getting good in their initial phases. But the point is there will always be scammers and scam projects, and they will be able to have victims as long as people don’t do research and just jump into such with the intention of gaining profit instantly. I think that’s one of the many misconception here, especially by the newbies in the field, that it is a market meant for instant success when clearly it is not.
Scams would be a never ending situation because  there would be people who do really love to have that easy money which they do mostly target out those noobs in the market

this would be always existing on each year because there would be people who do easily believe about easy money through to too to be true offerings which would results
to make out some bad investment decisions.

It would be continuous and you should really be aware and be keen when it comes on dealing with everything.
full member
Activity: 994
Merit: 105
I believe there are big scam projects in the previous years as well, but last year these became rampant because some were really seen to be getting good in their initial phases. But the point is there will always be scammers and scam projects, and they will be able to have victims as long as people don’t do research and just jump into such with the intention of gaining profit instantly. I think that’s one of the many misconception here, especially by the newbies in the field, that it is a market meant for instant success when clearly it is not.
full member
Activity: 1190
Merit: 108
I was almost tempted to buy Squid Game Token at that time, but fortunately my capital was still stuck on other coins so I didn't buy it, lucky for me because of that. From that case, I think we can learn that the bull market invites many scammers to deceive us in various ways, so be careful and don't focus on profit and make us forget the risks in it.
legendary
Activity: 2408
Merit: 4282
eXch.cx - Automatic crypto Swap Exchange.
Real Scam comes from a trusted party and no one doubts his intention to defraud, and then everything disappears.
Scam mentioned first can be avoided, but the second requires intelligence and caution.

Well said, investors sorry gamblers calling themselves investors make the scams very easy to pull. Anybody from the comfort of his or her basement can create a token out of thin air and just wait for the hype of the market to give the project some market value. The industry is becoming a mocking ground and unlikely to be taken any seriously unless we find a way to educate mostly the newbies about this worthless projects that only has one ending, which is rug pull.

The law enforcement agency have to start going after the influencers/promoters of this scams because another reason they get so popular is because of the publicity they get from this so called influencers. The newbies unconsciously tends to trust them as they invest in project been promoted by them. They're accomplice of this scams as they gain either by  first mover advantage or the commission they get form the projects.
sr. member
Activity: 1344
Merit: 253
Actually every year there will always be bad cases about crypto, whether it's a fraud, crypto scam, or others and last year was a bad year for people who have been deceived and failed in the crypto world. There are many modes of fraud here which in essence make crypto lovers get big losses. Learning from the scam coins that are circulating in the market, we have to be even more careful in investing in the coins that we choose, especially if we decide to invest with big capital. Always search and research first so we can confirm whether the coin is worth it or not.

Even long-timers in crypto are not exempted as victims of these fraudulent projects.
Every year, we will encounter new hype, so these scammers will take advantage of the opportunity.
As people aim to get high profits, they will lure these individuals with the promise of good profits.
So if the offering is too-good-to-be-true, better doubt their intentions.
Don't fall from from their tactics, because the bottomline is, you are in-charge of securing your funds.
Fraudsters are hard to avoid, even when a project is already underway, it's easy to do so when there's a loophole to walk away with investors' money. This year we just need to do a lot of research on each project and don't rush just because the project is being promoted by a big influencer. Because that's not the main criterion. It is difficult to avoid this kind of thing, especially regarding the funds that have been allocated for project development.
therefore it is necessary to diversify the capital we have. Don't just invest in a project. With so many scam projects, which sometimes we analyze incorrectly, diversification can at least share the risk, so that our funds are more secure. Moreover, weak laws regarding cryptocurrencies make it easier for fraudsters to collect money and then leave
jr. member
Activity: 30
Merit: 14
In the current market, let's say you are building an upcoming project, what would you be your best bet to gain credibility and spread the word?


Most projects still seem to bot their socials and the amount of people fooled is still substainial. If you want to build a solid community, especially around a blockchain gaming project, this is definately not a solution.
sr. member
Activity: 2338
Merit: 365
...

and the most interesting thing for me is when squid coin makes a scene with rug-pull in a very short time...

every year we see many scammers who have succeeded in deceiving investors here, they are very smart because they managed to take advantage of visible loopholes. hope this year we don't see these scammers getting a lot of money from their scams, they really pollute the crypto market.
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