Scam Coin On PANCAKESWAP - page 2. | Bitcointalksearch.org

SeaSoul

sr. member

Activity: 728

Merit: 250

Quote from: Shasha80 on May 10, 2021, 10:20:45 PM

Quote from: Golftech on May 10, 2021, 10:02:14 PM

Quote from: ?? on ??

Quote from: muksal on May 10, 2021, 06:27:33 PM

Well of course there are many scam coins on pancakeswap, it's a decentralized exchange so any coins can list there.
The only way to prevent you to SCAME is do your own research the Project, know their Product, what are the use cases of the Coin.

Check liquidity. development of platforms and also smart contracts. This is an essential or basic thing if you are interested in buying altcoins that are listed on the Pancake. because there are hundreds of tokens that are indicated as scam. There have been many cases of people being scammed as a result of them getting caught up in the high hype when people say they will experience a high rise. if the price is over priced, don't force it to buy if you are not ready for the risk

Always update yourself with the current market movements, you'll be able to know the project if you are updated

and not just following the hypes. Most of those who failed doing their research are mostly the victims of scammers,

they use alluring offers to get the attentions of those traders and investors to participate and also invest their money

to shit projects that leads them to ends up losing their money.

Not only on PancakeSwap there are scam coins, but on all exchanges there are definitely scam coins. So always do research on the coins we want
to buy to avoid us investing in scam coins, check all updates regarding these coins. If the coins on the developer team are rarely active and make
updates, it is an indication that the coins are scam. The most important thing is not to be easily attracted to coins that promise big profits in a short time.

Absolutely but I think the bigger centralized exchanges try their best to ensure that no scams can make it onto their platform. They can be as wrong as w can b with our due diligence, but they do invest resources to gather sufficient information in order for their listings to be safe for the users.

Shasha80

sr. member

Activity: 1876

Merit: 318

Quote from: Golftech on May 10, 2021, 10:02:14 PM

Quote from: ?? on ??

Quote from: muksal on May 10, 2021, 06:27:33 PM

Well of course there are many scam coins on pancakeswap, it's a decentralized exchange so any coins can list there.
The only way to prevent you to SCAME is do your own research the Project, know their Product, what are the use cases of the Coin.

Check liquidity. development of platforms and also smart contracts. This is an essential or basic thing if you are interested in buying altcoins that are listed on the Pancake. because there are hundreds of tokens that are indicated as scam. There have been many cases of people being scammed as a result of them getting caught up in the high hype when people say they will experience a high rise. if the price is over priced, don't force it to buy if you are not ready for the risk

Always update yourself with the current market movements, you'll be able to know the project if you are updated

and not just following the hypes. Most of those who failed doing their research are mostly the victims of scammers,

they use alluring offers to get the attentions of those traders and investors to participate and also invest their money

to shit projects that leads them to ends up losing their money.

Not only on PancakeSwap there are scam coins, but on all exchanges there are definitely scam coins. So always do research on the coins we want
to buy to avoid us investing in scam coins, check all updates regarding these coins. If the coins on the developer team are rarely active and make
updates, it is an indication that the coins are scam. The most important thing is not to be easily attracted to coins that promise big profits in a short time.

SyndicateLabs

full member

Activity: 896

Merit: 100

PredX - AI-Powered Prediction Market

Quote from: Kongxx on March 23, 2021, 11:34:03 PM

PANCAKESWAP is a fairly new crypto exchange. Many new cryptocurrencies are introduced there everyday.

Are there any scam coins on this site? Did anybody face any scam coins there before?

Not only on PANCAKESWAP that many other DEXs in this market also face the same situation, but I think it is not a bad problem but on the positive side I see its diversity in this field. Easy listing on exchanges can be beneficial and harmful for us, too, and most of these new projects appear this way to be accessible, and part of the people who lose money are the ones who lose money people who are greedy and have no knowledge in this area.

Golftech

hero member

Activity: 2128

Merit: 520

Quote from: ?? on ??

Quote from: muksal on May 10, 2021, 06:27:33 PM

Well of course there are many scam coins on pancakeswap, it's a decentralized exchange so any coins can list there.
The only way to prevent you to SCAME is do your own research the Project, know their Product, what are the use cases of the Coin.

Check liquidity. development of platforms and also smart contracts. This is an essential or basic thing if you are interested in buying altcoins that are listed on the Pancake. because there are hundreds of tokens that are indicated as scam. There have been many cases of people being scammed as a result of them getting caught up in the high hype when people say they will experience a high rise. if the price is over priced, don't force it to buy if you are not ready for the risk

Always update yourself with the current market movements, you'll be able to know the project if you are updated

and not just following the hypes. Most of those who failed doing their research are mostly the victims of scammers,

they use alluring offers to get the attentions of those traders and investors to participate and also invest their money

to shit projects that leads them to ends up losing their money.

TastyChillySauce00

legendary

Activity: 3010

Merit: 1028

Leading Crypto Sports Betting & Casino Platform

Quote from: coin-investor on May 09, 2021, 06:25:35 PM

Quote from: Kongxx on March 23, 2021, 11:34:03 PM

PANCAKESWAP is a fairly new crypto exchange. Many new cryptocurrencies are introduced there everyday.

Are you any scam coins on this site? Anybody faced any scam coins there before?

If you are going to trade on decentralized exchanges you get this warning and you should not ignore this warning and always follow the DEX's warning, scammers know that there are careless people who will ignore warnings because they are in a hurry to trade.

right? even if people want to trade coins that aren't officially recognized by pancakeswap itself they need to go as far as copying the smart contract address and pasting it to the swap platform meaning those coins are obviously created by someone who has no link to pancakeswap whatsoever so if anyone getting scammed out of buying some random shitcoins that coming out of nowhere they definitely are as guilty as the scammer because they intentionally buying it despite all the complicated step they need to take.

muksal

member

Activity: 373

Merit: 11

Well of course there are many scam coins on pancakeswap, it's a decentralized exchange so any coins can list there.
The only way to prevent you to SCAME is do your own research the Project, know their Product, what are the use cases of the Coin.

carlisle1

hero member

Activity: 2744

Merit: 541

Campaign Management?"Hhampuz" is the Man

Quote from: coin-investor on May 09, 2021, 06:25:35 PM

Quote from: Kongxx on March 23, 2021, 11:34:03 PM

PANCAKESWAP is a fairly new crypto exchange. Many new cryptocurrencies are introduced there everyday.

Are you any scam coins on this site? Anybody faced any scam coins there before?

If you are going to trade on decentralized exchanges you get this warning and you should not ignore this warning and always follow the DEX's warning, scammers know that there are careless people who will ignore warnings because they are in a hurry to trade.

You always needs to focus and read every information before making your entry, there are notice that you need to understand in order to avoid making mistakes and become a victims of those scammers and hackers around, knowing what you're doing inside any exchange especially with DEX is very important, all must be agree upon and it's you who are holding your fate once you use this kind of services.

Focus and never to put down your guard as it will be taken right away by scammers who knows those careless traders.

mrongoz_imut

hero member

Activity: 1232

Merit: 500

Better trade and invest with potential coin only on pancakeswap and never want to buy with shit coin and have higher slippage fees transaction, I see many trader try with cheap coin and get much profit but always have risk by removed liquidity and you can't sell coin. Pancakeswap easy for listing shit and scam coin without selective which one coin can listed on pancake or not.

SeaSoul

sr. member

Activity: 728

Merit: 250

Quote from: coin-investor on May 09, 2021, 06:25:35 PM

Quote from: Kongxx on March 23, 2021, 11:34:03 PM

PANCAKESWAP is a fairly new crypto exchange. Many new cryptocurrencies are introduced there everyday.

Are you any scam coins on this site? Anybody faced any scam coins there before?

If you are going to trade on decentralized exchanges you get this warning and you should not ignore this warning and always follow the DEX's warning, scammers know that there are careless people who will ignore warnings because they are in a hurry to trade.

Up to us to do our diligence because if Pancakeswap was in full control over the coins that are getting listed or not, there would also be complaints when Pancakeswap decided to not list a certain coin that the community wants to see listed. Also, what if Pancakeswap makes a mistake and lists a scam without knowing? They would have full responsibility for any harm done. Not a great position to be in. It's a great service and I am ok with doing my own research.

coin-investor

hero member

Activity: 2996

Merit: 598

Leading Crypto Sports Betting & Casino Platform

Quote from: Kongxx on March 23, 2021, 11:34:03 PM

PANCAKESWAP is a fairly new crypto exchange. Many new cryptocurrencies are introduced there everyday.

Are you any scam coins on this site? Anybody faced any scam coins there before?

If you are going to trade on decentralized exchanges you get this warning and you should not ignore this warning and always follow the DEX's warning, scammers know that there are careless people who will ignore warnings because they are in a hurry to trade.

john1010

hero member

Activity: 2100

Merit: 562

There's a lot of coin who are circulating in pancakeswap are scam coin, we cannnot blame pancake about that, we need to do our assignment this is our job as investor in one's project, we can read alaways this word, "DYOR" it means do your own research, we are the first person who are responsible in everything, remember this is our money so be very careful in everything we make.

SeaSoul

sr. member

Activity: 728

Merit: 250

Quote from: mrongoz_imut on May 09, 2021, 03:46:53 PM

Have more evaluate with new token listing on pancakeswap, the same pancakeswap like etherdelta but have different network between eth and bsc, they listed coin as illegal because etherdelta just add contract address you can sell your coin without anything bad or waiting for listing. Pancake have the same without any announcement coin will listed.

That's true but Etherdelta is no fun, way too complicated and slow and buggy. The problem with those decentralized exchanges is the problem that it's very easy for scammers to list their scams. Really important to pay attention to the contract address.

mrongoz_imut

hero member

Activity: 1232

Merit: 500

Have more evaluate with new token listing on pancakeswap, the same pancakeswap like etherdelta but have different network between eth and bsc, they listed coin as illegal because etherdelta just add contract address you can sell your coin without anything bad or waiting for listing. Pancake have the same without any announcement coin will listed.

retreat

sr. member

Activity: 1106

Merit: 391

Quote from: Kongxx on March 23, 2021, 11:34:03 PM

PANCAKESWAP is a fairly new crypto exchange. Many new cryptocurrencies are introduced there everyday.

Are you any scam coins on this site? Anybody faced any scam coins there before?

many of my friends are victims of this kind of scam coin on pancake. because it is easy to make bsc tokens, it causes many fraudsters to make fake projects just to steal investors' money in the pancake.

After listing and having a lot of sales the fraudster immediately rug-pull. don't easily believe telegram groups who say their new bsc token on pancake is potential.

Kehindem

jr. member

Activity: 199

Merit: 1

Though have not really trade there but have a lot of people that do trade their they have not reported any scam there before, though I will not be surprised if they report any because, if a platform is trying to make wave we will always see a coin like that there also, that from my own perspective.

H1N1

full member

Activity: 812

Merit: 100

Quote from: ?? on ??

Quote from: inanilujimi on May 08, 2021, 04:26:43 PM

it all depends on how you know the coins you want to invest, if you want to get big profits, of course you have to be able to accept a big risk too, Pancakeswap is a place for new coins to grow, if you can find tokens that have the potential from the start, of course big profits will come your way. Likewise, vice versa, it takes extra care to invest there.

The OP is talking more of coins that are cloned, coin with same name but different custom addresses. They are fake coin found on Dex and traded to scam traders. It is important for both new and Old traders to understand ways to identify fake coins and prevent the trade. IMO there nothing exchanges and owners can do but traders might need to be more careful

Copy cat fake coin is the worst scam in decentralized exchange, we should more careful when using DEX.
I always check the address of the token i want to buy because anyone can list their own token in decentralized exchange like pancakeswap.
This is why some people prefer to using centralized exchange than decentralized exchange.

MishaSER

full member

Activity: 1050

Merit: 103

BIB Exchange

Quote from: rahmatullah9305 on May 08, 2021, 03:11:05 PM

Quote from: MishaSER on May 08, 2021, 10:50:19 AM

I recently came across DONALD Finance and in my opinion it is a very suspicious project. Therefore, I can say that yes, suspicious and even fraudulent projects are possible.

Why do you think that project is suspicious? Are there strange things that don't fit the logic going in that project?
so you suspect the project and will be a scam project?

I looked at the analysts at this project, at first glance the project looks good, but there is an independent analyst and he said that there is a possibility that the team can take all the liquidity. This is not 100%, but as they say, this analyst is believed.

poldanmig

sr. member

Activity: 1372

Merit: 275

Tokens with "Fair Launch" do carry a high risk. in no 10 minutes I have ever experienced a scam. indeed people are interested in instant profits to be able to buy tokens at Pancakeswap. but after i calculate even though you gain the overall loss. and there are dozens of scam projects. every day there are so many scam altcoins that many people simply lose money

CaVO32

full member

Activity: 1848

Merit: 158

Quote from: Asuspawer09 on May 08, 2021, 06:46:47 PM

Quote from: Kongxx on March 23, 2021, 11:34:03 PM

PANCAKESWAP is a fairly new crypto exchange. Many new cryptocurrencies are introduced there everyday.

Are you any scam coins on this site? Anybody faced any scam coins there before?

I don't know if it is just easy to create this contract in the BSC Network but there are so many of this scam address which is created most of the time when there is a hype project and a lot of people are just waiting to get in finding the contract address.

They will also spam this address in the telegram or discord of that project to scam someone uses this contract. I guess it's kinda normal so everyone just needs to be careful with this and make sure to invest in the right address and at the same time do every research before investing.

Just don't take anything from strangers, just make sure it came from the right sources before jumping right into it.

We should expect that this will be another playing ground of these scammers. Now that BSC network is getting popular, scammers will always find a way how to create fake tokens under this platform. If you are going to transact in pancakeswap, make sure that the address is the official one of the project. Don't just type the name of the token because that's not a very safe to do, it is much secure if you will paste the contract address itself.

Asuspawer09

sr. member

Activity: 1820

Merit: 436

Quote from: Kongxx on March 23, 2021, 11:34:03 PM

PANCAKESWAP is a fairly new crypto exchange. Many new cryptocurrencies are introduced there everyday.

Are you any scam coins on this site? Anybody faced any scam coins there before?

I don't know if it is just easy to create this contract in the BSC Network but there are so many of this scam address which is created most of the time when there is a hype project and a lot of people are just waiting to get in finding the contract address.

They will also spam this address in the telegram or discord of that project to scam someone uses this contract. I guess it's kinda normal so everyone just needs to be careful with this and make sure to invest in the right address and at the same time do every research before investing.

Just don't take anything from strangers, just make sure it came from the right sources before jumping right into it.

Topic: Scam Coin On PANCAKESWAP - page 2. (Read 936 times)