Newbies look out for scam tricks | Bitcointalksearch.org

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legendary

Activity: 2618

Merit: 1181

Scam is something that makes everyone worry in the cryptocurrency room because we never know that we have also been the target of those damn scammers to profit.

Reading from sources, in 2018 losses from scammer attempts related to cryptocurrency have reached $1.7 billion and I dont know yet whether the amount has increased during 2019 yesterday.

Some of the efforts that beginners should know about this scam attempt is how scammers work and get results. Next I explain some things that must be considered by investors, traders, and all people who are in the cryptocurrency room, especially beginners.

Ponzi Scheme
Initial Coin Offering (ICO)
Initial Exchange Offering (IEO)
Aridrop
Direct scam from someone claiming to be a global cryptocurrency trader
Exchange
Other investment services

I think there are still many gaps that scammers can use in this room to reap the benefits of bitcoin or cryptocurrency users and unfortunately it doesnt see who you are even though you are an expert. So be careful if we are in this space, cryptocurrency users are potential targets for that damn scammers. Hope we can be safe and can always prevent fraudsters from draining users cryptocurrency money.

Lorokan

member

Activity: 421

Merit: 47

As a newbie, while looking out for scam tricks, we must always remember not to be greedy.
A lot of people do ponzis not because they are not informed, but because of greed.

How can 5$ become 1000$ in a month ? i doubt if anyone can even get that from trading.

GreatArkansas

legendary

Activity: 2506

Merit: 1394

This kind of program again starting to pop anywhere, especially the price of Bitcoin starting to grow. That kind of scam program using cryptocurrency is disgusting. With that kind of way to earn money or grow your money easily it's really suspecting, I don't know why there are still some people who fall (well, not all already have knowledge about this).
I also remember one of my friends, who used to invest in this kind of scam, which was happened on Telegram using some bot there.

jossiel

hero member

Activity: 3150

Merit: 636

DGbet.fun - Crypto Sportsbook

These scammers know who they are going to target. Many of the newbies are still not aware of how cryptocurrencies work and this method is being used by these scammers to trick them and making them think that their money will just grow like trees.

The advertisement and promises that they bring to them is moving their feelings to the extent that they don't even doubt and find it suspicious. A lot of people us have been voluntarily reminding them, I've been also in social media because these tricks are also there. And the good thing is that some of these people are asking first before going on.

nakamura12

hero member

Activity: 2268

Merit: 669

Bitcoin Casino Est. 2013

I am not a fan of such schemes on scamming people but being preventive or safe is better than being a victim first. Don't be blind about how much money you can earn like the image you provide. There are many ways that scammers can use and the things that you should know are explained by other posts above and that should be enough as one of the indicators that it is a scam and keep safe all the time.

BITCOIN4X

legendary

Activity: 1974

Merit: 1150

Quote from: demonica on May 05, 2020, 10:15:34 AM

A typical Ponzi scheme, they lure people with earning money easily and without risk. Thus, I tried looking on their official website and the have a lot of participants. It seems that they have victimized plenty of people. They even assure the investors that the project won't fail and there is no scams or fraud, which is kind of confusing because it contradicts the reality. Therefore, we should do our part as an investor to investigate and search if the investment will be worth it because a lot of people are using that kind of circumstance to trick people, especially the greedy ones.

I dont think we need to bother investigating whether its ponzi or not. We have indicators to assess and determine what it is, and it is very clear that it is Ponzi.

Quote from: Helena Yu on May 04, 2020, 07:32:05 PM

Here are some indicators of Ponzi scheme

Quote from: xha-256 on September 22, 2018, 11:06:18 AM

Red Flags and Indicators

High investment returns. Ponzi schemes typically have a high value of returns, 1% a day, 30% a month or more is ridiculous.
Lack of transparency. The names, contacts, office address of the operators should be publicly shown to run a legitimate business. Which most ponzi doesn't provide their valid address and even names of the operators.
Consistent Returns. Regardless of the market conditions which will rise and fall yet the investment continues to generate regular, positive returns.
Advertised as "risk-free". Ponzi advertised their shaddy service as such as "Invest to us, we are risk-free and are guaranteed to make money for you." in which All investments come with a different degree of risks.
Increasing minimum investment. Ponzi starts off with a very small amount of capital and later grows rapidly for their new investors. Ponzi needs to make their capital grow which is higher than their minimum withdrawal amount so they can pay their old investors by the funds of the new investors.
High rates of commision. Users are highly motivated to promote their referral links due to high commision which is very lucrative.
Difficulty receiving payments. If you do not receive a payment or have difficulty to cash out your investment then its a high chance that the operators doesn't have enough new investors to fund their old investor and a high chance to run your investment and get scammed.

Its quite clear and never sent anything even though it was just for trial and error. $5 per person, and if there are 100 people then I think it will be enough to make a scammers belly distended for 1 month. Stay away and stay safe.

demonica

full member

Activity: 406

Merit: 109

A typical Ponzi scheme, they lure people with earning money easily and without risk. Thus, I tried looking on their official website and the have a lot of participants. It seems that they have victimized plenty of people. They even assure the investors that the project won't fail and there is no scams or fraud, which is kind of confusing because it contradicts the reality. Therefore, we should do our part as an investor to investigate and search if the investment will be worth it because a lot of people are using that kind of circumstance to trick people, especially the greedy ones.

VintageBazaar

sr. member

Activity: 623

Merit: 279

Hope & Positivity are keys to Success

Its really quite simple to avoid scams.

1- DO NOT send ANYONE any of your Crypto / BTC. (in the hope they will give you more back)
2- DO NOT send ANYONE your Crypto or BTC (just in case you are not sure about No.1)

Many people on Twitter, You Tube, Facebook are scammers, out to steal from you.

3- Beware of keyloggers! USe godo anti-virus, website rating sites like WOT (web of trust) can help, use ad blockers, make sure you dont auto download things.

4- Do NOT instal any wallet. Another easy way to loose everything. Dont trust them, get yourself a physical hardware wallet to store coins offline.

REMEMBER - Think like this "Everyone is trying to steal from me" TRUST NO ONE.

Lastly. Do NOT become "community member" Best not to "care about any altcoin, or you will be left holding bags, regretting not selling them.

BE SAFE! and Good Luck!

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Quote

Re: Newbies

Next time, please use a better title for your topics. Topic titles like this "Newbies" one requires us to guess or open the topic first before knowing what it's about, which completely defeats the purpose of having titles.

Assface16678

full member

Activity: 1484

Merit: 136

★Bitvest.io★ Play Plinko or Invest!

Good to see that there is an immediate red flag about that Ponzi scheme because it is quite suspicious just having investment only of 5 dollars is you can now earn worth of 1500 eth in just 10 days it is a huge loss to their platform to give a huge amount of eth for their users like that also according to their banner it is impossible to hack by that word it already gives you some doubt about the investment you have. I'm also looking forward other users and the players already scammed with this platform to bump this thread and give your experience and opinions what is the problem they encounter and what are the things and advantage give them to you so we can look the same what are their techniques about this scheme.

seoincorporation

legendary

Activity: 3346

Merit: 3125

Quote from: BIT-BENDER on May 04, 2020, 07:20:39 PM

If it sounds to good to be real, then it's a scam. Look at those points:

Quote

-1500 ETH every 100 days with only $5
-Impossible to be hacked
-Fully automated withdrawals
-No admin
-Can never be removed

So i will explain how it works:

-1500 ETH every 100 days with only $5 (The scammer is idiot, fighting hard to get $5 a min for each user)
-Impossible to be hacked (Because you already lose your money once you send it, so you can't lose something you don't have)
-Fully automated withdrawals (To the scammer wallet, once you make the depo, the system sends it to a cold wallet)
-No admin (No one to blame after you lose your coins)
-Can never be removed (Once you get scammed, you will always feel like stupid because this was OBVIOUSLY A SCAM)

Helena Yu

hero member

Activity: 742

Merit: 633

First time I read "start $5" and "it's impossible to lose money" I have known it's really classic ponzi scheme Cheesy

Here are some indicators of Ponzi scheme

Quote from: xha-256 on September 22, 2018, 11:06:18 AM

Red Flags and Indicators

High investment returns. Ponzi schemes typically have a high value of returns, 1% a day, 30% a month or more is ridiculous.
Lack of transparency. The names, contacts, office address of the operators should be publicly shown to run a legitimate business. Which most ponzi doesn't provide their valid address and even names of the operators.
Consistent Returns. Regardless of the market conditions which will rise and fall yet the investment continues to generate regular, positive returns.
Advertised as "risk-free". Ponzi advertised their shaddy service as such as "Invest to us, we are risk-free and are guaranteed to make money for you." in which All investments come with a different degree of risks.
Increasing minimum investment. Ponzi starts off with a very small amount of capital and later grows rapidly for their new investors. Ponzi needs to make their capital grow which is higher than their minimum withdrawal amount so they can pay their old investors by the funds of the new investors.
High rates of commision. Users are highly motivated to promote their referral links due to high commision which is very lucrative.
Difficulty receiving payments. If you do not receive a payment or have difficulty to cash out your investment then its a high chance that the operators doesn't have enough new investors to fund their old investor and a high chance to run your investment and get scammed.

BIT-BENDER

hero member

Activity: 1666

Merit: 709

Playbet.io - Crypto Casino and Sportsbook

Newbies be warned and notified about ponzi using crytocurrency as mode of deceiving people

Ask yourself the smart question how possible is it to earn strange high amounts just like that?
At this point of lock down people will be more frequent with their phones, laptops or any form of communication and information gadget.
Some people newbies in particular will be drawn to site promising crytocurrency or fiat. Be warned bitcoin, crytocurrency does not give you mysterious money.
Be notified that scam site would play mind games with prices of crytocurrency and even use quote from great men just to draw you in and give you tasks -example referral- they can ask for funds from you to register an account for you.
Its possible to even see some amount of money or crytocurrency in your account -it can be manupulated- and fake.

Thread cautiously with what you see on the internet or what someone referred to you. Know how to distinguish between crytocurrency and ponzi or scam. Find out more about before you do anything.

Topic: Newbies look out for scam tricks (Read 279 times)