Topic: Scammers show no mercy, this is how serious crypto investment has become - page 2. (Read 483 times)

Traders should first be able to identify the scam to avoid it. They should know there is no such thing as free lunch. There are different types of scams that are propagating in the market and traders should be aware of them.

That's the main Idea here no Scammers if all people will be educate about their strategies but I think about these will not happen cause some people not interesting in discussion about scammers or about true investment. If we are all knowledgeable for sure scammers will more knowledgeable than us. I think we must accept the truth that scammers has a big rules in our community.

Scammers have made more money than us, only if we allow to. So we should always be careful and cautious on everything we do especially on the security of our own wallet because a single mistake will open a good opportunity for scammers to deceive us. And when it comes to this new metaverse projects and play to earn games, we should always have an in-depth research first before we decide to invest in them.

So we must be more knowledgeable and become smarter than them so that we won't be taken advantage by them.  Scamming is already a big part in the crypto market and if we always tend to be weak, we will easily fall on them. As long as money is involved, the main reason why they are here, scammers will show no mercy and eventually steal all what they can. That is how they lived in the world and so they should be skilled in it.

It's never going to be possible for all of us to have the knowledge you are talking about, we all start from somewhere as a newbie and we made many mistakes along the journey, new kids are been born everyday and they grow up after many mistakes too, see? Scammers will always have someone to prey on, its inevitable.

Its become a trend in the crypto space. Scammers always follow trends and use that hype to make scam projects. Last year when the meme coin trend become so successful we have seen a lot of copycat meme projects and later on, metaverse hype kicked in. The problem with investors is they do not put enough time to do some research about the project team and partner. As long as investors do not be conscious of their investment this type of scam will continue.

Scammers will never stop to exist until we are all knowledgeable enough to understand that there is no such thing as invest X and get a 30 to 100% weekly or monthly. Because that's exactly the strategy scammers now use this days.

Scammers are everywhere, where they can see targets to fall as their victims. So if most of the investors tend to be less knowledgeable and are easily to fall on traps, most likely because of greed, then they will always gain huge amount of money from the victims' pockets. I guess that's the reason they need to be smarter than us, otherwise they'll end up falling on their own traps too.

Yes like the bitconnect project years ago but what about hackers? They made the biggest profits to me and they remain anonymous, they are completely different from those small time scammers.

The scammers on Instagram, telegram groups are small time. You can tell, they can even hold a discussion about cryptocurrency without pulling you to invest in some site or bot. I just watched Netflix Trust No one: The Hunt for the Crypto King. Crypto scammers, the ones who pull the big heist are not always anonymous, they use their reputation to give investors a false sense of security and trust. Scammers do not only exist behind the keyboards, they are also on the front page magazines

Most of these scams work on those who can't control their greed, scam projects always have something enticing to offer but they are always too good to be true.

There are different ways scammers target traders/investors. But their ways are not only limited to taking help from technology. They are also good with psychology and trade with people’s emotions. I think we all should be aware of that and be sceptical if anyone approaches us just because he/she is just “concerned.”.

Scammers have no mercy and that's their job, they will try to do anything to cheat until you don't realize that you are part of a scam victim, generally the targets of scams will not be much different:

- ICO/IDO scam
- Phishing
- Wallet/Exchange scam
- False signal group (Arbitrage)
- Malware
- High APY project (potential scam), etc

To avoid scam then "Control greed, multiply knowledge".

You're one of victim who got scammed, because you're invest on crypto aka shitcoins where the developer created the coins out of thin air and looking for investors to buy their coins. Perhaps, you're holding your coins on centralized exchange too and not wanted to hold in non custodial wallet due to fees.

No one will turn to be scammer if they still have morale, that's why they're no mercy to anyone. Anything that money is involved, there's always a scammer behind that.

Getting scammed in this crypto market is not a new thing and normally there are many cases which we encountered associated with these scams in different manners but the results are always the same loss of funds from victims walllets.This is whole technical market and you need to be extra cautious in keeping your funds safe but most of the time people become greedy or unintentionally click on malicious links which results in these scams.

But if you say scammers are earning lot through these scams then you are absolutely right as you could see million dollars worth of scam happening most of them through these shitcoins rug pull or zero utility but still investors hope of getting something from it but only hackers get their money.According to the reports by chainanalysis data these were the numbers of scams that took place in 2021:



You could easily see the period of 2017-2018 witnessed high rate of scams as there was ICO burst and other scams occuring at that time but after that there was people awareness but the numbers seems to rise now also as there are lot of NFT and meta projects out there who have rug pulled investors of money worth million of dollars.

Some top scam coins in the previous years were as per some reports :



So they are definitely earning much but if you take into consideration the amount of investment made then the market cap is more than $2 trillion and people have also earned huge profits in their investments with this bull run which cannot be ignored and the fact is crypto industry has witnessed huge surge in volumes as new one's have joined the market.So there are no perfect reports but investors have earned a lot.

At last your security is your responsibility as you would find these scammers everywhere but keep yourself safe from them by not being greedy.

Just because someone is an investor, that doesn't mean they are a successful investor that makes profit. For every successful one, there are others who lose money in bad trades every day. Additionally, one scammer doesn't defraud just one person. The greatest scams deceive thousands, and hundreds of thousands of people at once. And they can be carried out by just one person or a small group of fraudsters. 

Why do you agree? That article states that crypto scams generated more than $14 billions as profit for scammers, but there is no comparison to how much money was made by trading and investing in crypto in the same period.

Investing in cryptocurrencies has always been something serious (at least for me personally), but from everything I can read on the forum and various media I can conclude that many approaches it in a very frivolous way. I don't understand if it's just FOMO, or does everyone think that they were born smart and that money grows on some digital tree that gives everyone as much money as they want?

In today's world, you need to know that there are bad people in all walks of life and that if you want to save yourself and your property you need to be at least one step ahead of them. You can't expect mercy from such people, they are evil and they don't care if you die of hunger or you can't buy medicine because they stole from you.

Crypto knows no mercy, scammers take advantage of every opportunity to trick you into falling into a trap that has been created.
Some investors who fall into the scammer trap of course they are novice investors and still don't understand how cryptocurrencies work.

Scammers are able to make a lot of money from crypto by phishing, trapping and even using malware and other fraudulent methods. they make good use of the negligence of crypto users. There will be no mercy, there will be no refunds.

Always be alert and don't be tempted by ridiculous promos or some emails and messages saying you got free bitcoins or something. more realistic and have to be careful..

I haven't heard any Metaverse projects and play2earn project scam till now. Are you referring to exit scams, project theft or actual scams happening on those? If yes, then you should share some examples and if possible some proofs.

I agree with you that scammers have made more than investors in 2021 but most of those scam happened in DeFI. There was an article published on one of the major media outlet about Defi scams early this year. Here is the link to that articles.

The only way to prevent your self from getting scammed is to not become greedy and stupid.

Just remember that these guys will never be gone in this space considering that crypto isnt perfect and always got some loopholes. Those made huge money are literally the killer of investments and name of blockchain. But to avoid such  crime, we should always be attentive and cautious to their style and we must recognize those method in order for us to be safe.