I bet on scammer's next favorite tools is going for DeFi project since they're trending right now.
I agree with you. DeFi project seems the next potential tool to use by scammers effectively. Well, one of the ways to scam people effectively is by using what the most favorite ones currently. We must know that nowadays, most scammers prefer to use IEOs on small or unpopular exchanges to attract people than using ICOs. As most investors don't trust again in ICOs, scammers rarely used ICOs to trap people anymore. We must realize that scammers are always following the current trends in crypto to get the victims, so be more careful guys!! 
Topic: Scammers favorite tools - page 3. (Read 630 times)
You are right, this techniques as been working for quite sometimes now, and I hope investors will learn and stop falling for cheap scam. 80% of exchange projects too is pure scam, they don't have any real usecase, just mere attractive name to deceive investors.
The worst and the culprit among them are exchanges I hardly see any exchange coming into real life I personally invested in one or two of them which eventually turned scam I belief this is an eye opener to any investor or bounty hunter to avoid those ones else the end result will be regret of course those scammers are having a field day due to non regulation of cryptos where every dick and harry enters the market with shady deals and tricks to defraud unsuspecting investors every crypto enthusiast has to be wary of them including those mentioned by OP. exchanges who are doing are ICO are the usual. we've been sing more of it since 2018. its unsure if they really get some funds fro investors though and i have not investigated an of them but the fact that they tried asking for funds and just defaced their website after ICO date, its a valid reason to think they are scam.
i would assume a single team is behind the ICO scam of exchange project and the next exchange ICO scam but just doing different way of exiting. one that i suspect today is that KOINPRO. its not doing ICO but its allowing users to deposit.
You are right, this techniques as been working for quite sometimes now, and I hope investors will learn and stop falling for cheap scam. 80% of exchange projects too is pure scam, they don't have any real usecase, just mere attractive name to deceive investors.
I learnt my own lesson about some useless use cases in crypto Projects through Airdrop hunting. I have something against the following use cases like
1. Artificial Intelligence projects
2. Gold backed tokens
3. Deflation tokens
Why? They hardly survives because they are mostly based on lies, these use cases are scammers favorite tools to deceive
Few artificial intelligence projects exists and they are doing fine but majority are chasing the air, gold backed tokens have fake foundations and are just 'make believe' use case, I made few dollars from deflation tokens, these are the kind of altcoins you don't want to hold on to for long because they can become worthless very fast 1. Artificial Intelligence projects
2. Gold backed tokens
3. Deflation tokens
Why? They hardly survives because they are mostly based on lies, these use cases are scammers favorite tools to deceive
1. Masternode coins are scammers favorite too.
2. Real Estate projects are scammers favorite too.
3. New exchanges are also used by scammers too
Anything that's very easy to fool investors will be on scammers list for sure, it's easy to detect fake masternode projects because they promise huge ROI, mostly too good to be true and do not trust new exchanges too unless they are transparency
2. Real Estate projects are scammers favorite too.
3. New exchanges are also used by scammers too
Anything that's very easy to fool investors will be on scammers list for sure, it's easy to detect fake masternode projects because they promise huge ROI, mostly too good to be true and do not trust new exchanges too unless they are transparency
In my span in crypto space DASH was the only coin masternode which actually gave me a decent profit lol apart from every coin ended up with a loss. Never trusted/invested in any real estate related projects.
I participated in ICO of COSS exchange and that ended up badly too so I agree with your statement above completely. Not all exchanges can be binance.
I would say something believable is the most awesome thing you can scam people around.
If you tell people that you will give them 100 coins if they give you 100 satoshi, they will not believe you, some might, but mostly they will laugh at you.
However if you tell people that you will give them 20% per year, and that is guaranteed, they might believe you. Is it impossible to give 20% profit per year? Well Warren Buffet made a career out of it so it is quite possible, however we are not Warren Buffets here and the people who say that are lying. They are trying to ponzi the hell out of the situation. Ponzi scheme or pyramid scheme is by far still the best way of scamming people, that way you know what you are doing as scammer since you saw it a million times before and you can perfect it by scamming much better next time.
If you tell people that you will give them 100 coins if they give you 100 satoshi, they will not believe you, some might, but mostly they will laugh at you.
However if you tell people that you will give them 20% per year, and that is guaranteed, they might believe you. Is it impossible to give 20% profit per year? Well Warren Buffet made a career out of it so it is quite possible, however we are not Warren Buffets here and the people who say that are lying. They are trying to ponzi the hell out of the situation. Ponzi scheme or pyramid scheme is by far still the best way of scamming people, that way you know what you are doing as scammer since you saw it a million times before and you can perfect it by scamming much better next time.
yes, scamers always have many ways to fool the victims as you said above, on the other hand like an attractive offer, a high return on investment is a way to attract the attention of investors to join in it. most of the scamers have revolutionized their ICO project again to make it look real or convince investors.
But their several other projects tokens that claim the same and are still currently doing good and making their investors happy.
There is no doubt that scammers take different dimensions to get to their victims but it doesn't mean every offering such projects are all scammers
There is no doubt that scammers take different dimensions to get to their victims but it doesn't mean every offering such projects are all scammers
I learnt my own lesson about some useless use cases in crypto Projects through Airdrop hunting. I have something against the following use cases like
1. Artificial Intelligence projects
2. Gold backed tokens
3. Deflation tokens
Why? They hardly survives because they are mostly based on lies, these use cases are scammers favorite tools to deceive
1. Artificial Intelligence projects
2. Gold backed tokens
3. Deflation tokens
Why? They hardly survives because they are mostly based on lies, these use cases are scammers favorite tools to deceive
I have nothing against projects interested in this topics but what is interesting to me is a team just coming out of nowhere thinking they can spend $20 million or so on Artificial Intelligence and succeed, this is just like a drop in the Ocean, Apple, Google and most of these top company have spent alot on this subject and still spend so how do you want to succeed. Raising money through ICO has its limits
I bet on scammer's next favorite tools is going for DeFi project since they're trending right now. Please invest in DeFi project carefully.
I also am a victim of one of those types of projects. Day by day those scammer becoming more creative about scamming peoples. Sometimes i wonder how they find all these unique ideas for stealing people's money. For these types of activity real and potential projects failed to collect enough funds for the project developments. People afraid to lose their money again.
Exchange coins is the most popular IMO.
The most common indicator of scammers are the unrealistic ROI's or a bit higher than what's considered as normal/standard rate of returns. Since this will catch the attention of the naive investors.
Also, I don't easily believed in cryptocurrency backed by gold.
That's it, naive investors. Because they are quickly diving to invest without further investigations just because they believed on the hype that the vast of those who in hype were fake and just want pump and dump method of increasing the price. But I'm not totally disappointed if there's project that keeps coming, we should have to dig on research before putting our money as an investment.The most common indicator of scammers are the unrealistic ROI's or a bit higher than what's considered as normal/standard rate of returns. Since this will catch the attention of the naive investors.
Also, I don't easily believed in cryptocurrency backed by gold.
I have doubt that once there is a scammed project and then suddenly disappeared, then, it will be expected they will come back with a new name that we can't able to determine. I have a friend who told me this before, just because of money they easily fool people.
Truth.
They use the kind of industry where we think it will be successful.
I doubt they will.
When it's so good to be true you doubt it.
But, there are still others which are really making a good progress.
There is 1 out 10 in the bounty sections in the industry of gold.
They use the kind of industry where we think it will be successful.
I doubt they will.
When it's so good to be true you doubt it.
But, there are still others which are really making a good progress.
There is 1 out 10 in the bounty sections in the industry of gold.
It's really hard to see new projects that aren't here just for the money, it's why I don't trust new projects today unless I find strong prove that they are here to stay, it's getting more annoying, DeFi projects will join the sea of frauds in crypto space very soon, I'm waiting for that one
Scammers uses catchy and popular concepts to get easy money from gullible investors. They don't do much work and just copy pastes others work with some slight change. Other popular scams except the ones mentioned by OP at the moment are
1. Masternode coins - 90% of them are just scams.
2. Exchange coins - Don't believe any exchange coins as good exchange would always bring their exchange first and issue the ICO on their own exchange.
That is just it. If they successfully open their exchanges, it will be a pitfall for most investors, because whatever fund they send in there is all gone. Many of them will bring up strategies that would lure traders with huge funds. They would be deceived to send more funds in, promising some forms or rewards or incentives and at the end, they will disappear. A typical example of such is BCNEX.1. Masternode coins - 90% of them are just scams.
2. Exchange coins - Don't believe any exchange coins as good exchange would always bring their exchange first and issue the ICO on their own exchange.
Other popular ways of scamming people with fraudulent ICOs
- STO, they claim to give x percent of operating profit for x time or forever. Many people did jumped into those STOs and at one time they were quite famous until IEO were the new trend.
- Mining projects. No mining industry can provide a sustainable profit for investors just for one time investment as it's a dynamic business.
I learnt my own lesson about some useless use cases in crypto Projects through Airdrop hunting. I have something against the following use cases like
1. Artificial Intelligence projects
2. Gold backed tokens
3. Deflation tokens
Why? They hardly survives because they are mostly based on lies, these use cases are scammers favorite tools to deceive
Scammers don't settle in particular category of projects, they are everywhere now the recent trend is DeFi projects which may turns out into huge scam in the next few months so watch out for the every new projects releases because it holds the risk of turning out into a scam. 1. Artificial Intelligence projects
2. Gold backed tokens
3. Deflation tokens
Why? They hardly survives because they are mostly based on lies, these use cases are scammers favorite tools to deceive
I learnt my own lesson about some useless use cases in crypto Projects through Airdrop hunting. I have something against the following use cases like
1. Artificial Intelligence projects
2. Gold backed tokens
3. Deflation tokens
Why? They hardly survives because they are mostly based on lies, these use cases are scammers favorite tools to deceive
1. Artificial Intelligence projects
2. Gold backed tokens
3. Deflation tokens
Why? They hardly survives because they are mostly based on lies, these use cases are scammers favorite tools to deceive
Lol Also include adult industry projects. All I know in these categories have failed, even though a few projects based on AI still look promising. Worst is deflationary tokens, most if not all projects in this category were baseless. Trends come and go in this space, just learn to ride the trends while you can.
Porn on the other hand has achieved relatively more success than many other genre. There are a lot of porn sites that gives paid personal live stream as people find it easier to give and take crypto for private events. The current pandemic situation has further boosted the economy as more artist are joining these platforms and earning money just for showing off on webcam.
I learnt my own lesson about some useless use cases in crypto Projects through Airdrop hunting. I have something against the following use cases like
1. Artificial Intelligence projects
2. Gold backed tokens
3. Deflation tokens
Why? They hardly survives because they are mostly based on lies, these use cases are scammers favorite tools to deceive
1. Artificial Intelligence projects
2. Gold backed tokens
3. Deflation tokens
Why? They hardly survives because they are mostly based on lies, these use cases are scammers favorite tools to deceive
Lol Also include adult industry projects. All I know in these categories have failed, even though a few projects based on AI still look promising. Worst is deflationary tokens, most if not all projects in this category were baseless. Trends come and go in this space, just learn to ride the trends while you can.
Scammers uses catchy and popular concepts to get easy money from gullible investors. They don't do much work and just copy pastes others work with some slight change. Other popular scams except the ones mentioned by OP at the moment are
1. Masternode coins - 90% of them are just scams.
2. Exchange coins - Don't believe any exchange coins as good exchange would always bring their exchange first and issue the ICO on their own exchange.
That is just it. If they successfully open their exchanges, it will be a pitfall for most investors, because whatever fund they send in there is all gone. Many of them will bring up strategies that would lure traders with huge funds. They would be deceived to send more funds in, promising some forms or rewards or incentives and at the end, they will disappear. A typical example of such is BCNEX. 1. Masternode coins - 90% of them are just scams.
2. Exchange coins - Don't believe any exchange coins as good exchange would always bring their exchange first and issue the ICO on their own exchange.
Jump to: