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Topic: Huge crypto scam that happened last year(2021) - page 3. (Read 573 times)

sr. member
Activity: 1848
Merit: 341
Duelbits.com
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.
hero member
Activity: 2744
Merit: 588
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.
sr. member
Activity: 1498
Merit: 443
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.
sr. member
Activity: 1932
Merit: 442
Eloncoin.org - Mars, here we come!
Yes, You already mentioned several name of scam projects particularly Squid Game scamming is know to all over the world. I can say that they stolen a large number of amount which should be also like crime. If i just calculate all the aspects then 2021 is also a good year for the crypto currency.
Well from the start of this project I am just thinking already that this is perhaps a big scam --this is not the first time I saw a project that named when there is a very trending on social media. Even before, there are too many fraud projects that have been successfully launched and the most victims are those new in crypto investments who don't know how to determine a scam or not. It is obvious if you will do a short research, first even the project that has no real product or real use, how they exist with the matter if don't have hype --and abandon when they got what they need.
jr. member
Activity: 1380
Merit: 1
Yes, You already mentioned several name of scam projects particularly Squid Game scamming is know to all over the world. I can say that they stolen a large number of amount which should be also like crime. If i just calculate all the aspects then 2021 is also a good year for the crypto currency.
hero member
Activity: 1106
Merit: 527
Many have been doing this exit scams and rug pulls in crypto space. And the thing is that there are still being attracted in this projects when it's already screaming scam from the very beginning, just like the Squid Game token.
It is obviously a scam but why there are still a victim of this fraud project.
Maybe because of their attitude that willing to take a risk just to earn and hoping it will gain profit for how many folds but they didn't think that it could be there are on the trap already. We shouldn't take gambles on the new projects, always check their legitimacy, their potential, and the most important is the usage of the project itself.

At least they know already about them, their characteristics that the reason we avoided them. Never fall on their trap.
sr. member
Activity: 2506
Merit: 368
Shit projects are almost everywhere and most people believe on them because of the hype but at the end most of them didn't get back their investment money. I bet this kind of scheme will happen again next bull run and different developers will try to create something like a hype to lure people who are greedy.

Those NFT projects are just great for early investors but for the late ones they are always the one that suffer most of the time. I think that's the risk of these kind of investment, I hope they would stop this but nah, if there's a money involved there's no way these scammers would stop, ever.
sr. member
Activity: 1848
Merit: 341
Duelbits.com
And more dominating crypto projects in 2021 are mostly shitcoin or meme coin projects which are caused by big influencers. It is not surprising that 2021 will be the year of the rise of massive fraud projects everywhere. not a few investors lose in meme coin because they are lulled by an unreasonable pump. It was not at all expected that in 2022 we stumbled upon this kind of project. At least less than last year. However, this project has tarnished the image of the cryptocurrency world and has often dimmed good projects that do not appear on the surface.
hero member
Activity: 1344
Merit: 540
Many have been doing this exit scams and rug pulls in crypto space. And the thing is that there are still being attracted in this projects when it's already screaming scam from the very beginning, just like the Squid Game token.

It's obvious, by the name itself that this is just a meme coin and just riding the popularity of that show. And yet people still falls for the trap and thinks that it is a legit project and worth to pour your hard earn money on it.
K4C
full member
Activity: 448
Merit: 103
$CYBERCASH METAVERSE
Its true and not a specific year its normally thing every year many projects are  you see first time read there future they show that its a great project but many people invest this project and last time the project suddenly down and they show that its a scam project so this is happened in last year many top project
jr. member
Activity: 30
Merit: 14
.

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.

The scam involving betrayal of trust is worse of. This is the personal relationship kind of thing where trust has been built over the years either the family line, friends and close aligns This is a category of scam where that trust is broken and the other party is in lose.

Another is a kind of another real life scam or internet scam where both parties are potential suspect. This may be an expectation to benefit where you didn't invest or sow. For example the drive to gain more than expected. So if it is looking very rare to be true, you can fall into scam trap.

This next phase is scam that is popular among bounty hunting, exchanges platforms , coins and ponzi scheme. The bounty is what you can't even research on because it is not easy to identify, most of us have fallen on that trap either ignorantly or not being very careful to read between the lines.  Grin


These things are bound to happen until we reach a  new level of legislation and some kind of regulation, even if that means centralizing some work a bit. For example, if we had more unified requirements for new and upcoming Play-to-Earn projects and every project had to complete certain steps of due diligence, then we wouldn't be seeing these Squid Games rugpulls and so thousand of 1-day meme coin deploys.
hero member
Activity: 2660
Merit: 630
Vave.com - Crypto Casino
.

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.

The scam involving betrayal of trust is worse of. This is the personal relationship kind of thing where trust has been built over the years either the family line, friends and close aligns This is a category of scam where that trust is broken and the other party is in lose.

Another is a kind of another real life scam or internet scam where both parties are potential suspect. This may be an expectation to benefit where you didn't invest or sow. For example the drive to gain more than expected. So if it is looking very rare to be true, you can fall into scam trap.

This next phase is scam that is popular among bounty hunting, exchanges platforms , coins and ponzi scheme. The bounty is what you can't even research on because it is not easy to identify, most of us have fallen on that trap either ignorantly or not being very careful to read between the lines.  Grin
legendary
Activity: 2702
Merit: 4002
If there is a common denominator for all of these scam then it is the greed of investors and the people’s attempt to make a quick profit by exploiting the good reputation of a series or movie without researching in depth whether that coin/token/DeFi represents a good investment or will it offer something new (other than the name), which will later prove that the movie or series is not have to do with it.

All the above operations are not considered real scam, but rather stupidity on the part of the investors and their lack of experience.

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.
sr. member
Activity: 2016
Merit: 283
For me, how bullish the market is, that's the time scammers are increasing. I remember way back 2017-2018 bull market, there are a lot of cryptocurrency scams before, like Ponzi or the HYIP scams (I experienced this), ICO scams, etc. And most of the victims here are the newbies, and yeah, they are prone indeed.

It's just like there are always new ways for scammers out there for every season, so basically more likely on what are the current trends, scammers are always there.
for me the amount of scammers is increasing when there's a trending features in crypto currency for example NFT's, staking and many more wherein investors can make easy money.. because that's the way how they can get some idea as well how they can scam people especially those who not aware in such issue.." Copy paste project" that's the common strategy of some scammer. That's why its always recommended to make research to prevent getting scam around the internet.
mk4
legendary
Activity: 2870
Merit: 3873
Paldo.io 🤖
A year in crypto without scam is going to be one of the happiest moment we will ever see but I doubt if that will be happening soon since almost part of it is not regulated and the ones that are regulated still struggling to hunt down this guys. Another problem is that the investor are the main problem of these scams, they want to be rich over night and there is nothing that kill faster like greed in any investments.

Hoping for a year in crypto without a scam is like hoping for a year without anyone getting hacked or a year without someone getting mugged. That's just the downside of having more freedom, people will be taking advantage of that freedom to do immoral/unethical things.
full member
Activity: 546
Merit: 148
A year in crypto without scam is going to be one of the happiest moment we will ever see but I doubt if that will be happening soon since almost part of it is not regulated and the ones that are regulated still struggling to hunt down this guys. Another problem is that the investor are the main problem of these scams, they want to be rich over night and there is nothing that kill faster like greed in any investments.
full member
Activity: 1190
Merit: 111
Almost every year there is a crypto scam arise here in this business industry dude, And I think no one can stop this shitty scam projects. And one of the scam projects in which I heard last year was the squid game token if I am not mistaken where a lot of the victim of course are the one who bought or invested into this coin.
sr. member
Activity: 1274
Merit: 293
Squid Game Token Rugpull Scam deserves that spot, every person that I know already knows that it's a scam because no one can sell their own tokens and when the time comes, only those that own the token can really sell their tokens, if I remember there was a Twitch streamer that was watching the movement of the token and then they witnessed the rugpull live with thousands of viewers.
member
Activity: 1092
Merit: 67
You missed the Bitmart hacked but fortunately, everything is now going smooth and I think no users have a problem with their account balance. The trading operation already commence much quicker and faster compare to other exchanges that got hacked.

That SquidGame is an obvious scam that's why I can't understand why more people got fall on that. Just copying the series name is already red-tagged but still, they put investment on that project.

A lot of people are hoping for the next SHIB or doge here, so at that time, they thought squidgame token will give them the high return that they have been waiting for. But unfortunately, it was the opposite. The team disappeared along with their collected money. This scenario will happen again and again at any market. If people will not be cautious and attracted to the possible high return, they will be the victim of these scammers.

Also, I have seen lately, that even bounty programs handled by reputable BM here are not excluded from falling to the trap of scammers. Scammers are really good in deceiving people so it is our duty to be more diligent in doing our research to these projects.
legendary
Activity: 2688
Merit: 1065
Undeads.com - P2E Runner Game
You missed the Bitmart hacked but fortunately, everything is now going smooth and I think no users have a problem with their account balance. The trading operation already commence much quicker and faster compare to other exchanges that got hacked.

That SquidGame is an obvious scam that's why I can't understand why more people got fall on that. Just copying the series name is already red-tagged but still, they put investment on that project.
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