Massive influx of scammers activity during the bull season. - page 2.

Cryptomultiplier

full member

Activity: 756

Merit: 179

Eloncoin.org - Mars, here we come!

Quote from: Cookdata on November 19, 2023, 02:06:22 PM

Quote from: Jaycoinz on November 19, 2023, 06:04:52 AM

For some reason I got this taught from a discussion I was partly involved in where the persons were all complaining on how they lost so much during the bull market and it made me wonder how possible is this if one should be able to avoid so many factors that posses these results of losses.

It would be nice for the community to discuss how these period are so vital on profits and also how they can also be a hit by some these scammers that are fully active during this period due to same reason that everyone is always hyper in these period.

Where this discussion centered on bitcoin or they are just the casual shitcoin losses and scammers? Bitcoin is currently around $36k and let's say you bought bitcoin around $59k, the current price should be above -45% losses but I believe only few bought at that price because it didn't even last upto a month before that price crash downward.

The only way I think people might lose from bitcoin is through scam. Security come before anything in crypto, you have to value your seed phrase and private more than even the bitcoin you have because once the seed phrase is gone. Even the wallet to spend that bitcoin will be difficult. In addition, make sure it's protected from online platform, not even on online wallet like software wallets.

As for the other ways to loss money from crypto, avoiding shitcoins by all means, it's makes you stay hydrated all the time and immune to any bullshit scammers.

I agree that security should be of uttermost concern mostly as regards the scare of scammers getting ahold of our seed phrases.
The need to install an anti-virus and malware detector to avoid falling prey to scammers is now the real deal also enabling authentication authenticators, because as long as the Blockchain and decentralized network is concerned, scammers and hackers and money laundering will be a prey and that's why there's always upgrade and better initiatives to ensure better security of assets and investment.

Cookdata

hero member

Activity: 910

Merit: 875

Not Your Keys, Not Your Bitcoin

Quote from: Jaycoinz on November 19, 2023, 06:04:52 AM

For some reason I got this taught from a discussion I was partly involved in where the persons were all complaining on how they lost so much during the bull market and it made me wonder how possible is this if one should be able to avoid so many factors that posses these results of losses.

It would be nice for the community to discuss how these period are so vital on profits and also how they can also be a hit by some these scammers that are fully active during this period due to same reason that everyone is always hyper in these period.

Where this discussion centered on bitcoin or they are just the casual shitcoin losses and scammers? Bitcoin is currently around $36k and let's say you bought bitcoin around $59k, the current price should be above -45% losses but I believe only few bought at that price because it didn't even last upto a month before that price crash downward.

The only way I think people might lose from bitcoin is through scam. Security come before anything in crypto, you have to value your seed phrase and private more than even the bitcoin you have because once the seed phrase is gone. Even the wallet to spend that bitcoin will be difficult. In addition, make sure it's protected from online platform, not even on online wallet like software wallets.

As for the other ways to loss money from crypto, avoiding shitcoins by all means, it's makes you stay hydrated all the time and immune to any bullshit scammers.

irsykes

sr. member

Activity: 1444

Merit: 273

Vave.com - Crypto Casino

Quote from: _act_ on November 19, 2023, 06:13:47 AM

Do not type your seed phrase or any site than your noncustodial wallet. Download your wallet only from the official website. Do not connect your wallet to fake or scam sites. Do not pay any money a site lured you to pay in order to get double or moy of the money. Avoid cloud mining sites. Be active on a forum like this.

most of the main sources sometimes from this site start out as thieves of our personal wallets, bull season really has to be careful for those who can't differentiate between official sites or scams, this is a danger for beginners. even cakes dare to steal even though cakes are already famous. For me, if I get an airdrop tokenI transfer it to another wallet with a different gadget

BABY SHOES

sr. member

Activity: 294

Merit: 433

HODL - BTC

Scams will always exist... Even during bearish market conditions, we often find many types of scams from various fake projects that think they are legitimate projects, but the reality is that many are still roaming around that we find on the internet.

What must be considered is to stay alert and don't take too much action if you haven't done your research first.

Currently the trend is ponzi scheme in my country some people have entered into the aisle of fraudsters but somehow they are promised sweetly too complacent, even though what they think is wrong of course do not know how to work to get profits in their own way not with ponzi scheme.

That is a classic scam that may have existed a few years ago, but in the crypto world there are more types of scams that we know of now including ponzi schemes, fake giveaways, fake websites with stolen seed phrases and other kinds.

We need to realize, never be tempted by unreasonable profits.

Z-tight

hero member

Activity: 826

Merit: 1010

Only BTC

Quote from: Jaycoinz on November 19, 2023, 06:04:52 AM

It would be nice for the community to discuss how these period are so vital on profits and also how they can also be a hit by some these scammers that are fully active during this period due to same reason that everyone is always hyper in these period.

You can lose your coins in any period because scammers are always ready to find any available victims, so your funds should always be secured, and the process of securing it is the same. Store it offline by buying a hardware wallet or creating an airgapped wallet, separate your funds you want to hold for the long term and that for spending on the go, the latter should be the one in an online wallet.

Add extra layers of security like setting up a multisig wallet or adding a passphrase to your seed phrase, all of these + common sense and good opsec should protect you from attackers.

avikz

legendary

Activity: 3024

Merit: 1496

Quote from: Jaycoinz on November 19, 2023, 06:04:52 AM

For some reason I got this taught from a discussion I was partly involved in where the persons were all complaining on how they lost so much during the bull market and it made me wonder how possible is this if one should be able to avoid so many factors that posses these results of losses.

It would be nice for the community to discuss how these period are so vital on profits and also how they can also be a hit by some these scammers that are fully active during this period due to same reason that everyone is always hyper in these period.

There are some very simple ways to avoid scammers in the crypto market. Let me point this out for you.

1. Do not give away your private keys or seed phrases to anyone
2. Greed is one primary reason for losing money. If you hear some investment will give you astronomical returns, it is wise to stay out of that.
3. Don't trust anyone when it comes to your crypto holding. Do not connect your wallets to any random websites
4. Do not use your primary wallet to do small transactions. Always keep your main holding separate.
5. Use licenced softwares and anti-virus programs and keep them up to date.

Hopefully these tips will help you.

HONDACD125

sr. member

Activity: 336

Merit: 292

Quote from: shield132 on November 19, 2023, 11:48:17 AM

Some people lose during bull market because they invest when bubble is about to explode. These people watch how bitcoin rises, then they think that it's temporary and it's going to fall, then they see it's not going to fall and start panicking, blaming themselves for not investing, then price rises again and they start panicking, then bubble is going to explode and these people finally decide to invest in bitcoin to not miss the profit but since they invest during the time when bubble is going to explode, this is what happens: They invest, bubble explodes and these people start losing instead of profit. Then these people hold tight because they were taught that they should hold long-term to profit but price is falling fast, they still hold it but when they see that price went super down, they can't hold anymore and they sell what they bought when bitcoin's price was at ATH. Then, they discover that some days later bitcoin starts recovering and price is slowly increasing, it's not going to reach ATH but it's increasing and price is getting higher than they sold.
Please carefully read what I wrote. This is the analyses of my personal spectation on people since 2016. Never make a mistake like this!

People who invest in Bitcoin during bull season surely know nothing about cryptocurrency market and Bitcoin. Otherwise people who know the cryptocurrency market never invest in bull season but always wait for bear season. If someone invests at the wrong time, how can they blame Bull Season or the cryptocurrency market or anyone else?

The whole point and gist of your post is that it can be people who have no experience. I think there may be another reason for this, that when some people get good returns, they try to reinvest in the lure of more profits, and in the same attempt they may take losses, because people always suffer in two places, either because of lack of experience or because of excessive greed.

tranthidung

legendary

Activity: 2170

Merit: 3858

Farewell o_e_l_e_o

Quote from: Jaycoinz on November 19, 2023, 06:04:52 AM

For some reason I got this taught from a discussion I was partly involved in where the persons were all complaining on how they lost so much during the bull market and it made me wonder how possible is this if one should be able to avoid so many factors that posses these results of losses.

They lost big because of many reasons but some biggest factors are

They joined the market when the bull run is nearly over. So they bought at top and consequently panic sold at lower prices or bottom prices.
They did not take profit and get their initial capital back to be safe. They won big, spent more money with hope to win bigger, at the end, lost big.

It's not only because they spent money into scam projects but even projects did not die in a bear market, they will lose like 90% or more from their portfolio all time high because most of altcoins usually have 90+% loss in a bear market.

Jaycoinz

full member

Activity: 280

Merit: 151

God is All

Quote from: Jawhead999 on November 19, 2023, 11:10:53 AM

You just need to avoid everything that related to free money e.g. giveaway, airdrop, bounty etc, learn lowkey life and privacy, I believe it will decrease a lot chance you would be targeted by someone. But the reality it's hard because many people obsessed with free money, flexing and don't care with privacy, after all life is a choice.

Address poisoning, this was popular when the last bull run, never claim/add any unknown token or coin that send into your wallet.

That's basically the weak point of every human (greed) many people out there have failed to succum to things they know fully well that's is dangerous but due to the fact there is a slight chance if them making profits of it, they don't bother at all and go all in and take the risk of investing.

It is believe that taking risk sometimes is good but some of the risk that we get ourselves in are just not worth and most of the times we fail to analyze it because we have been shielded by our greed.

shield132

hero member

Activity: 2198

Merit: 847

Quote from: Jaycoinz on November 19, 2023, 06:04:52 AM

For some reason I got this taught from a discussion I was partly involved in where the persons were all complaining on how they lost so much during the bull market and it made me wonder how possible is this if one should be able to avoid so many factors that posses these results of losses.

It would be nice for the community to discuss how these period are so vital on profits and also how they can also be a hit by some these scammers that are fully active during this period due to same reason that everyone is always hyper in these period.

Some people lose during bull market because they invest when bubble is about to explode. These people watch how bitcoin rises, then they think that it's temporary and it's going to fall, then they see it's not going to fall and start panicking, blaming themselves for not investing, then price rises again and they start panicking, then bubble is going to explode and these people finally decide to invest in bitcoin to not miss the profit but since they invest during the time when bubble is going to explode, this is what happens: They invest, bubble explodes and these people start losing instead of profit. Then these people hold tight because they were taught that they should hold long-term to profit but price is falling fast, they still hold it but when they see that price went super down, they can't hold anymore and they sell what they bought when bitcoin's price was at ATH. Then, they discover that some days later bitcoin starts recovering and price is slowly increasing, it's not going to reach ATH but it's increasing and price is getting higher than they sold.
Please carefully read what I wrote. This is the analyses of my personal spectation on people since 2016. Never make a mistake like this!

Jawhead999

legendary

Activity: 1638

Merit: 1156

You just need to avoid everything that related to free money e.g. giveaway, airdrop, bounty etc, learn lowkey life and privacy, I believe it will decrease a lot chance you would be targeted by someone. But the reality it's hard because many people obsessed with free money, flexing and don't care with privacy, after all life is a choice.

Address poisoning, this was popular when the last bull run, never claim/add any unknown token or coin that send into your wallet.

fuguebtc

hero member

Activity: 1736

Merit: 520

Leading Crypto Sports Betting & Casino Platform

Quote from: Jaycoinz on November 19, 2023, 06:04:52 AM

For some reason I got this taught from a discussion I was partly involved in where the persons were all complaining on how they lost so much during the bull market and it made me wonder how possible is this if one should be able to avoid so many factors that posses these results of losses.

It would be nice for the community to discuss how these period are so vital on profits and also how they can also be a hit by some these scammers that are fully active during this period due to same reason that everyone is always hyper in these period.

i think there is no other reason than we become too greedy during the bull season . If we don't want to be scammed, we just need to do one simple thing, restrain greed, stay away from new projects , stay away from projects that promise to bring x100, x1000 quickly. Just do this and focus only on bitcoin, I bet you you will never get scammed. But if you are still greedy and still want to make money from altcoins , you should not blame any project because it is your greed that is causing it, not someone else's.

Beparanf

hero member

Activity: 2744

Merit: 761

Burpaaa

Quote from: Jaycoinz on November 19, 2023, 06:04:52 AM

It would be nice for the community to discuss how these period are so vital on profits and also how they can also be a hit by some these scammers that are fully active during this period due to same reason that everyone is always hyper in these period.

Most of the time. People in crypto lose their money not on scam activity but rather on poor choice of investment. They intentionally choose a risky investment that’s why they ended up losing money and feeling scam but in reality they knew the risk involved but still enter due to the promise of huge return.

Honeypot and other type of rugpull is the most common reason on why people keeps losing money even on bullrun because they are chasing more gains that is higher on Bitcoin gain since they are left behind.

ajiz138

hero member

Activity: 1470

Merit: 783

When the bullrun season comes, many scammers appear with various ways to deceive their victims at the same time many beginners come hoping to get bigger profits, so this is a gap for scammers to prey on their victims in various ways including:

Ponzi schemes with 100% returns without doing anything but beginners don't know anything so they often fall into this trap even though this is an old trick but there are still many people fooled here.
Spreading fake websites in the hope that the scammer will get the seed phrases that are entered on the site he created, these are victims who do not know anything and we often see many sites like this.
Then with giveaways, usually this is a lot for altcoin projects, and connecting their wallets to these fake giveaway sites, often on X.com many promote this kind of giveaway.

Anyway, you have to be careful when bullrun has entered it, you have to know if there is a promising offer then it should be suspicious.

kryptqnick

legendary

Activity: 3066

Merit: 1383

Join the world-leading crypto sportsbook NOW!

To be honest, I think scammers are pretty active all the time, but people are dealing with funds more during the bull market, so maybe that makes this period more important.
If it's too good to be true, stay away.
If you need to send money to get money, it's a scam.
Double-check websites before entering passwords, same with addresses before sending BTC.

Mr.suevie

sr. member

Activity: 490

Merit: 308

Quote from: Jaycoinz on November 19, 2023, 06:04:52 AM

For some reason I got this taught from a discussion I was partly involved in where the persons were all complaining on how they lost so much during the bull market and it made me wonder how possible is this if one should be able to avoid so many factors that posses these results of losses.

It would be nice for the community to discuss how these period are so vital on profits and also how they can also be a hit by some these scammers that are fully active during this period due to same reason that everyone is always hyper in these period.

It would be odd to say that scammers are the most updated set of people but if you look at it from one angle it's actually the truth because they never relent on different technology and always stay updated in every single opportunity available for them. The most affected person are the ones which their greed actually control them or the ones that are always ignorant of the advices that are given to them as humans don't take or rely on anyone's advice especially when it sometime that has to with financial advice.

target

legendary

Activity: 2212

Merit: 1041

Undeads.com - P2E Runner Game

Old scam still works during bull season because the new comers are unaware of those scams. Even the doubler scam sipeemmto make money still in the bull market.

But most of the scam that gets more money and scammers get away are those who are doing ICOs still. In th bear market the users who are making money seem to be looking for more project to invest in. Its unfortunate that they picked the scams.

Samlucky O

full member

Activity: 238

Merit: 161

The great city of God 🔥

Every opportunity to make money, is also an opportunity for scammers to make money. Scammers are very smart in time of leauring you to fall a victim. People tend to always fall victim out of greed. Sometimes scammers uses airdrop to scam people. I could remember last year when there were tones of airdrop of some token which were metawar.terk,Bull and many others. These airdrop where claimed freely, but just a little amount of about 5000coin for each persons. and it worth about $300 and they fixed a date to unlock these airdrop. and people used there BNB to claim a huge amount of it. some were able to buy $2000k worth of it, while some bought a little amount of about $400, expecting to make a huge sum of money. But never knew it was a honey pot. Not until the day of unlocking the airdrop. Guest what? they were still told to pay ustd to unlock it. Isn't that a very big scam? I claimed the airdrop free, but never invested on it. if not I would have been a victim. So we all just need to be extra careful on scam altcoin promoting sites.

Mpamaegbu

legendary

Activity: 2674

Merit: 1208

Once a man, twice a child!

Quote from: Jaycoinz on November 19, 2023, 06:04:52 AM

It would be nice for the community to discuss how these period are so vital on profits and also how they can also be a hit by some these scammers that are fully active during this period due to same reason that everyone is always hyper in these period.

It's a circle that repeats itself every bull season. We know scammers are all for the money, this money rain becomes obvious during bull rally. That's when most people become excited and then lose guard. It's a favourable time for scammers to hit their preys. Of course, we know how angered and frustrated many investors tend to be during a crash and they're not likely to be interested in any further talks. During bull rally, investors are willing to invest further.

To checkmate scammers and hackers during bull season, people should be weary clicking on random links. Links could be malware carriers. Again, we should be careful with our passwords and passphrases. On no account should anyone screenshot them. It's better to write them out on a piece of paper or on a notebook. Do this and you're further away from getting scammed or hacked. Lastly, don't patronise any business that sounds too good to be true. They often end as scams.

vv181

legendary

Activity: 1932

Merit: 1273

Most scam techniques are pretty much the same. They give you too good to be true promises, and they give you a sense of urgency or fear. Moreover, they will pose or impersonate authority. Currently, there are not any novel schemes, they mostly use social engineering to execute the scam. The exception is scams that incorporate technical parts, in this case, simply sticking with cryptocurrency or tools that have been long-standing and battle-tested is a good way to go, instead of chasing some obscure coin or tokens.

The problem is, if the bull run comes, there will be an influx of newcomers who haven't been aware or exposed to such conditions, so they are the most prone people when the time has come.

Topic: Massive influx of scammers activity during the bull season. - page 2. (Read 356 times)