Topic: Scammers in the bull season. (Read 110 times)

If you think that investing in cryptocurrency is a get-rich scheme and you let your intention known to the investing community, you are an easy target by scammers. I have seen so many newbies asking what memes will give them profit openly, not knowing they are being watched, and will soon get an invitation to invest in one meme.
Scammers are good at convincing people, shilling their coin/token, and creating FOMO, so if you show your greediness, you will soon be out of luck.

When trump announced the launch of his memecoin one particular twitter handle that has been sitting on the fence with crypto, twitter he was willing to learn about this new way of making quick money. Scammers would easily scam him because at this point he is FOMOing.

Then the rise of many telegram channels promising newbies that they will make money if they join their Airdrop channel. Another scam channel for new entrants. When they get scammed, they will make the excuse that it is crypto and they were told to invest what they can afford to lose.

If I am not mistakenly I have shared something like this before and we need to be very mindful with the way scammer are using different methods to attack and steal people's funds, we need to be careful with the way they introduce us to some sites which might be trap for people to fall victim and we should mind how we connect our wallet online and jump into making quick investment to make profits.

It is not easy for any beginner in any field to be accurate and able to pay attention to every detail. The field of crypto in particular is not easy to understand its basics and its rules (protocole) in a short period of time, especially if the person is eager for quick profit, it is easy to scam him.
In many cases, it has reached the point that people who have made profits are tracked and bargained for their lives or possessions in exchange for paying a ransom or giving their private keys. The matter may turn into a risk in many cases if the person tells everything to strangers and on social media, making it easy to monitor and target him.

Most scams are traps for greedy people, the crypto space is often filled with many too good to be true opportunities. Not only newbies, but even experienced people in the field of crypto fall to the temptation of trying to get rich quick and end up being scammed.

Here are some common red flags you should look out for when considering new crypto investments:

• Promises of quick and easy profits with little to no risk
  
• Pressure to act quickly, often with urgent or time-sensitive offers
  
• Vague or missing details about the project, team or technology behind it
  
• False claims of endorsements or fake testimonials to make it seem more trustworthy

https://www.bitpanda.com/academy/en/lessons/how-to-spot-and-avoid-common-crypto-scams/

I also think you should know about Rug pulls and how it affects investors.

What is a rug pull?
The term "rug pull" metaphorically describes the act of pulling the rug from under someone, leaving investors destabilised. In the world of decentralised finance (DeFi) and cryptocurrencies, a rug pull is a scam where project developers withdraw all funds from a project and abandon it. The project loses its value, leaving investors with worthless tokens or coins.
https://www.bitpanda.com/academy/en/lessons/rug-pull-definition-meaning-examples/

You can follow the link to know more about hard pull and soft pull, how to spot it and also how to avoid it. These information are very necessary for all crypto players to play safe and avoid scams.

True, I recently received news that Linux and macOS users should also have keen eyes, no matter how many people here talk about the best and safest systems. Fraudsters are actively developing various viruses and spies, not only for Windows systems. As the news says, "Fake Homebrew infects macOS and Linux machines with a stealer." Many Linux users love free software. "Criminals use Google Ads to disguise themselves as the Homebrew website and distribute malware for Mac and Linux, which steals credentials, browser information, and cryptocurrency wallet data." Therefore, it is necessary to regularly follow the news about various cyberattacks, viruses, and ways to secure your gadgets and devices.

https://www.techworm.net/2025/01/hacker-google-ads-malware-fake-homebrew-site.html

It's easy.

Just do followings
Don't be too greedy.
Be careful.
Consider defend your capital is biggest thing you have to do.

And reading some available educational documents about scams, most popular scam types, how to avoid them.
Cryptocurrency scambook.
5 tips on how to avoid cryptocurrency scams.
The complete guide to Bitcoin scams and how to avoid them.
Shitcoins, ICOs, IPOs, and STOs, oh my!

How to easily protect yourself from online scams?

• To begin with, don't tell known and unknown people that you own cryptocurrencies, because that way you draw attention to yourself and become a potential target.
• Furthermore, do not believe in fairy tales and stay away from social networks as much as possible, especially in the context of any investments.
• Last but not least - if you own cryptocurrencies, store them in hardware wallets or properly made cold wallets if possible. Never save your backup online or as unprotected data on your computer/smartphone. Also, forget about downloading pirated software, cracks and multimedia from the internet - in most cases, viruses and malware that specifically target your wallets are hiding there.

Most of the scams will not have a Github repository. They have closed-source codebases designed so that nobody can audit the code and see when someone might actually rug-pull the project. It is easier to steal from your own users nowadays than it is to build something and contribute meaningfully to the crypto industry. A real crypto project will have a regular, frequent commits.

Bull or bear market, scammers are always there, and wait for chances to scam greedy people who have more greed than enough to be scammed, too careless and too unknowledgeable as well as lack of experience.

Between bear and bull market, bull market is a more perfect opportunity for scammers to do their jobs. Check their Github activities, commits, and you can see part of their project activities and quality.

Altcoin season, scam altcoin projects will appear. Check their Githubs first.

Very true as this is the phase when every youtuber or influencer because crypto expert and you get to see so many crypto schemes promising good returns but trust me they are scam and we should control our emotions and learn from the past because no matter how much ever we create awareness o lli see people falling bait to fancy scams. It's better to stick to the basics and no matter how little or no profit you earn it's better to learn trading rather than joining any scam channels. Telegram has been a key channel for them to reach out to peole to find targets.

Very true, there is a surge in the creation of altcoins and meme coins everywhere and almost everyday now because they understand the urgency and rush in the crypto atmosphere this period especially with the media and blowing things out of proportion in how easy it is to make money trading crypto however there steps to avoiding the scam for newbies especially

1  Durabilty: make sure that the company,exchange or person you want to trade with has been in the game long enough, don't just jump in and start buying or selling make sure you make your findings before trading

2  Track record: even if the system or individual has a good rating or  positive track record over time because sometimes durability is not enough, find out people they have had transactions with in the past if possible

3  Proper knowledge: make sure you know what you are doing, don't just jump in because someone asked you to, crypto curr3ncy as usually long term investments so no need for a rush take your time and do the proper research

4 patience: have at the back of your mind crypto trading is not a get rich quick scheme even though the market has the capacity to give you a substantial amount of wealth within just a short period of time if you put money in the right coin at the right time but often times it won't happen as quick as you think or want so learn patience

This particular period is when the crypto scammers are most active and believe me they are at it more than you can think of, be if any kind of method they try to come at you, just stay focus and stick to the initial plans you had because where they start to get hold of people is when you are not certain and you start entertaining the idea at which is presented at your then that's when everything starts to get bad because a curious and naive mind would always want to try out things.

And some ways you get to know these things are scam is when what they promised is too good to be true, some of us lie to ourselves so we get to believe what is being presented at our front because greed and curiosity wants every part of it to be true.

Currently their are surge of different sites and channel that are crypto related and many newbie are out there looking for that one step that would get them rich with them totally forgetting that no crypto project is a get rich scheme especially not BITCOIN.

Please let's stay guided and be careful not only hyped up because the bull market is close by the corner because the good wishes can turn out to be something different.