Topic: SIGNS THAT A CRYPTO PROJECT IS A SCAM - page 5. (Read 593 times)

There are so many of these threads already on the forum. It read through all this links compiled by BD crypto. It comprises of threads on this same topic.


This isn’t much of a red flag again, because most of these new projects even if there are scam spend a lot of funds on getting engagement on social media either through engaging the community with airdrops, bounties or even testnets, and when they lure people in they pull the rug. The most clear example to me is probably the Terra Luna, its massive hype and community engagement then, didn’t stop it from collapsing.

During the early days of some of these shit projects there community interaction is usually high mostly on social medias

One of the signs I expected you to mention is plagiarized white paper. Most fake projects have lazy people that just plagiarized white paper.

I do not know about this, but if a project presell a token at $1 and said to list it at $5, that may look not realistic. They may also said that the coin mat do 5x more which might happen or might not happen. What unrealistic promise are you talking about?

You are getting it wrong. Let me give you an example. Assuming the people behind the project said they will list the coin on an exchange, but should make your findings to know if that is true. If you later make research and the exchange said it is a lie, know that it is a fake project.

Also know that some projects may want to be a good one, but later in one way or the other, it becomes bump and dump or become failed.

If you want to invest, I will advice you to invest in bitcoin.

Oh no, there's no transparency behind Bitcoin's team, we're only know the name of the creator is Satoshi, but it's still not known about it's she, he, them, race, religion, face etc. So yeah, we can call Bitcoin is scam and anyone should sell all their Bitcoin ASAP! /jk.

Bank and fiat is really legit because we know the team behind the central bank, they're not lying for offer 0.1% interest rate because they always pay the 0.1% every year.

As cryptocurrency continues to gain popularity, more and more people are investing in various crypto projects. Unfortunately, with this rise in interest comes an increase in scams.

 Here are signs that a crypto project may be a scam:

1. Lack of transparency: A legitimate crypto project should have clear information about its team, its technology, and its roadmap. If a project fails to provide this information, or only offers vague promises, it could be a sign that they are hiding something.

2. Unrealistic promises: If a project promises too-good-to-be-true returns on investment, it is likely a scam. While some crypto projects are innovative and have the potential for significant growth, investors should be wary of promises that seem too exaggerated.

3. Lack of community engagement: A legitimate crypto project will have an active and engaged community. If a project lacks social media activity or community interaction, it could be a red flag.

4. No clear use case: A legitimate crypto project should have a clear use case for its token. If a project cannot articulate a clear purpose for its token, or its use case seems vague or broad, it may be a scam.
Before investing in any crypto project, investors should do their research and look for these red flags. By being vigilant, investors can protect themselves from scams and make informed investment decisions.

 https://www.binance.com/en/feed/post/804194