even audited projects can still be scams. Sometimes some people who already have experience can still meet scammers and then lose their money they always have a way to take our money. I usually rarely spend money on crypto unless it's a top rated project.
That's very common and yet it won't be called scams to them since they hide behind their rules and regulations saying that you broken one of their rules so they have the authority to claim your funds that you deposited in their platform. This schemes are known from casino owners or gambling site owners. That's why there aren't lots of gambling sites that are reputable and trusted known in this forum compared to all gambling sites that promoted their project here. 
Topic: They want your money by all means possible - page 4. (Read 1259 times)
One thing about Scammers is they are not afraid of anyone anymore since they knew you can't flee from your country to their country and they mostly scam those that are not from same country with them so you must be very careful with some kind of devs out there that wants to partner with you or even wanting you to invest in their projects as a new beginner who is venturing into crypto, all possible best researched is mostly needed.
Yes, it's really hard to get away from a scam project. And everything you wrote is true. In the past, we were deceived when investing in new projects that were never listed on the exchange. But now we are actually deceived by projects that have been registered, but suddenly the developers run away and various other reasons
in this case not only for beginners but for all cryptocurency users should know this because scammers will not target beginners or legends but all crypto users. so in my opinion before making an investment it is certain that we do research on the altcoin we want to invest or DYOR. because without doing research will be high risk for yourself.
The scammers don't care whether they are newbies or old people in the cryptocurrency space. What they think is how the victims can be ensnared in their modus operandi. We cannot eliminate things like this because it is easy for scammers to enter. Moreover, they are smarter than us, they package the best possible projects they will create to attract interest in their projects.Well, simply because I never put myself in a position where I could be scammed. This is not that hard, you go ahead and buy some bitcoins and ethereum and store that in your wallet and that's all you do, is there a way people could scam you in between this? No.
They aren't many legit projects for sure. Honestly, I see BTC as the only legit project where the author's motives were "pure".
in this case not only for beginners but for all cryptocurency users should know this because scammers will not target beginners or legends but all crypto users. so in my opinion before making an investment it is certain that we do research on the altcoin we want to invest or DYOR. because without doing research will be high risk for yourself.
The scammers don't care whether they are newbies or old people in the cryptocurrency space. What they think is how the victims can be ensnared in their modus operandi. We cannot eliminate things like this because it is easy for scammers to enter. Moreover, they are smarter than us, they package the best possible projects they will create to attract interest in their projects.We are now in a era where scam devs don't care about anonymity anymore, now they aren't willing to hide their faces, they will come out in the open, throw you some videos on YouTube and still run away with your money, if you are a newbie you need to have the following in mind when researching projects.
1. Visible team members don't mean they are scam free.
2. A audited smart contract project can still scam you.
3. Scammers can spend a lot on their website to make it look attractive just to make you invest your money.
4. High volume on the listed exchange doesn't make a project clean from going scam.
1. Visible team members don't mean they are scam free.
2. A audited smart contract project can still scam you.
3. Scammers can spend a lot on their website to make it look attractive just to make you invest your money.
4. High volume on the listed exchange doesn't make a project clean from going scam.
It very difficult choosing what project to invest in due to the fact that most of them just wants to scam investors.
Only few of them are actually legit.
But Bitcoin is still topping all so that's a great choice for me.
We are now in a era where scam devs don't care about anonymity anymore, now they aren't willing to hide their faces, they will come out in the open, throw you some videos on YouTube and still run away with your money, if you are a newbie you need to have the following in mind when researching projects.
1. Visible team members don't mean they are scam free.
2. A audited smart contract project can still scam you.
3. Scammers can spend a lot on their website to make it look attractive just to make you invest your money.
4. High volume on the listed exchange doesn't make a project clean from going scam.
1. Visible team members don't mean they are scam free.
2. A audited smart contract project can still scam you.
3. Scammers can spend a lot on their website to make it look attractive just to make you invest your money.
4. High volume on the listed exchange doesn't make a project clean from going scam.
Ok, good observations. Now you had to have one good example of a scam project that you have on your description that scammed many people.
Ever wonder why scammers aren't afraid of flaunting their faces just to make their project less suspected? That's because, once they gather a huge amount of money, they can defend themselves by the complainant using the dirty money they stole from the people. Authorities can be bribed anytime anyhow.
However, majority of the scams only happens with the new projects that keeps poppin in crypto market today.
We are now in a era where scam devs don't care about anonymity anymore, now they aren't willing to hide their faces, they will come out in the open, throw you some videos on YouTube and still run away with your money, if you are a newbie you need to have the following in mind when researching projects.
1. Visible team members don't mean they are scam free.
2. A audited smart contract project can still scam you.
3. Scammers can spend a lot on their website to make it look attractive just to make you invest your money.
4. High volume on the listed exchange doesn't make a project clean from going scam.
1. Visible team members don't mean they are scam free.
2. A audited smart contract project can still scam you.
3. Scammers can spend a lot on their website to make it look attractive just to make you invest your money.
4. High volume on the listed exchange doesn't make a project clean from going scam.
in this case not only for beginners but for all cryptocurency users should know this because scammers will not target beginners or legends but all crypto users. so in my opinion before making an investment it is certain that we do research on the altcoin we want to invest or DYOR. because without doing research will be high risk for yourself.
Most newbies are coming from hype, there is a lot of hype now, especially on different social media platforms. There are some content creators that are spreading some different content just to lure some newbies and buy random shitcoins. It's the power of the internet. And these newbies don't research at all or not maximizing the use of internet and they end up getting rekt.
Indeed. The hype and the advertisement from popular content creators are some of the reasons on why many people are engaging themselves to invest even without knowledge and just following what they see on different social media platforms believing they can really gain. These scammers will do everything they can for their projects to look more legit.That's why it's hard to trust the new projects even they have transparent team because it's not only a basis to know if the project is not scam. An extensive reasearch is really important in order to avoid ending up losing your hard-earned money because you made a wrong choice.
Beginners mostly have a limited ability to research, even on legitimate projects that sometimes don't yield good results. So the simplified advice for them is:
Want stable P/L (manageable) = take advantage of volatility (old established coins > trading)
Want significant P/L (unmanageable)= take advantage of hype (New coins> fundraising)
The choice is yours, it's that simple.
Yes of course freshers have some experience to research the project.But there are many scam projects who will never pay and cheat people Again there are many good projects and there are real projects which again sometimes do not pay.Many times I have seen many legitimate schemes have scammed people.So I support all the suggestions the OP has made here.Want stable P/L (manageable) = take advantage of volatility (old established coins > trading)
Want significant P/L (unmanageable)= take advantage of hype (New coins> fundraising)
The choice is yours, it's that simple.
Beginners mostly have a limited ability to research, even on legitimate projects that sometimes don't yield good results. So the simplified advice for them is:
Want stable P/L (manageable) = take advantage of volatility (old established coins > trading)
Want significant P/L (unmanageable)= take advantage of hype (New coins> fundraising)
The choice is yours, it's that simple.
Yes of course freshers have some experience to research the project.But there are many scam projects who will never pay and cheat people Again there are many good projects and there are real projects which again sometimes do not pay.Many times I have seen many legitimate schemes have scammed people.So I support all the suggestions the OP has made here. Want stable P/L (manageable) = take advantage of volatility (old established coins > trading)
Want significant P/L (unmanageable)= take advantage of hype (New coins> fundraising)
The choice is yours, it's that simple.
I have come across these types of projects that market themselves as having a doxxed team or KYC'd team and they still scam. They just make up some lame excuse to try and cover up their rugpull and then they resurface a few months later with a new token being shilled by influencers.
I think that wouldn't be that easy, I mean not saying it’s not possible, but it would be quite difficult to do something like that and get away with it.If you know who the creator is truly, then if that person scams you, even if they give some lame excuse, you could still sue them if you want to, and they are taking that risk, I personally wouldn't want to scam someone for ethical reasons, but even if I ever decided to do that, doing it with KYC'd and Doxxed standpoint would mean that people would know where I am and who I am and that’s too much of a risk. Once again, there could be some people who do it, but mostly it should be very scary for scammers to do that.
Thanks for the info.
The obvious question running through my mind now is, how do we now know which is a scam and which is not? Because, before now, i use to believe that when a dev are public, then the likelihood of scam will be slim
But these days, just like you rightly pointed out they can show their faces, give you their address and still scam you
Pretty scary what is going on out there.
The obvious question running through my mind now is, how do we now know which is a scam and which is not? Because, before now, i use to believe that when a dev are public, then the likelihood of scam will be slim
But these days, just like you rightly pointed out they can show their faces, give you their address and still scam you
Pretty scary what is going on out there.
Maybe because of bad economic conditions, which ultimately makes many fraudsters more daring to commit fraud. This means that they risk their
identity to commit fraud, most importantly they can convince their victims. That's why it must be admitted that nowadays it's more difficult to
distinguish which projects are scams and which projects are really legit. Even experienced and reputable bounty managers can still be fooled
by promoting scam projects. It's true that life is really scary now, most humans have lost their conscience. Which is quite a lot of people who are
more concerned with money above all else, including harming others they will do for personal gain. So we really have to be really vigilant and more
careful in choosing the projects we will buy.
We are now in a era where scam devs don't care about anonymity anymore, now they aren't willing to hide their faces, they will come out in the open, throw you some videos on YouTube and still run away with your money, if you are a newbie you need to have the following in mind when researching projects.
1. Visible team members don't mean they are scam free.
2. A audited smart contract project can still scam you.
3. Scammers can spend a lot on their website to make it look attractive just to make you invest your money.
4. High volume on the listed exchange doesn't make a project clean from going scam.
1. Visible team members don't mean they are scam free.
2. A audited smart contract project can still scam you.
3. Scammers can spend a lot on their website to make it look attractive just to make you invest your money.
4. High volume on the listed exchange doesn't make a project clean from going scam.
That is truth, the rate of scam are increasing day by day in difference form to make them archived what them want, which every one have to be careful, must connecting of wallet as a means of claiming airdrop or recievd of token that is not in your wallet, the moment connect the wallet to enable to trade it, automatically warp off the valuable coins that is in that wallet, therefore, newbie has to be careful in this period.
Thanks for the info.
The obvious question running through my mind now is, how do we now know which is a scam and which is not? Because, before now, i use to believe that when a dev are public, then the likelihood of scam will be slim
But these days, just like you rightly pointed out they can show their faces, give you their address and still scam you
Pretty scary what is going on out there.
The obvious question running through my mind now is, how do we now know which is a scam and which is not? Because, before now, i use to believe that when a dev are public, then the likelihood of scam will be slim
But these days, just like you rightly pointed out they can show their faces, give you their address and still scam you
Pretty scary what is going on out there.
2. A audited smart contract project can still scam you.
This I see many people confused, many people think that the audited project is not capable of scam. This is extremely wrong thinking: auditing companies only check the security holes of the project, check the completeness of the project to avoid errors when releasing to avoid hacking…but no audit firm will come forward to assure us that the project is never scam if the audit is passed. An audited project presents itself as a well prepared one, with investing in it reducing risk, but nothing says they won't scam.
I have come across these types of projects that market themselves as having a doxxed team or KYC'd team and they still scam. They just make up some lame excuse to try and cover up their rugpull and then they resurface a few months later with a new token being shilled by influencers.
The world of cryptocurrency is definitely brutal. We can still fall victim to scams even after making an effort to be cautious by conducting some research and being aware of red flags. It's still preferable to plowing money into arbitrary endeavors, though. However, you are correct that scammers are becoming more daring and are now defrauding individuals in broad daylight. Is it preferable for us to stay away from funding new ventures, then? However, it won't help (honest) new projects advance, and we risk losing wonderful projects in general.
They are very smart, even able to spend a lot of money to just take the investors' money. But we have experienced this many times, I'm sure of it. It's just that some of us are often negligent and in a hurry to do something, this has the potential to make it easier for them to carry out their actions.
I think the problem lies not in negligence, but in our greed. The desire to get a few hundred percent in a short time, closes our mind from reality. At the same time, the opportunity to earn 5-10% is no longer considered a good profit, although these percentages exceed what traditional banks offer us.
that's the problem of most people as they are after for the quick profits that this market can offer. they thought they can easily get high returns as a short period of time without much trouble to worry about.
indeed, most of these developers or so-called developers are after for the money that they can pocket, so it is on the user how he will protect himself from these people. they don't care how much money they can exhaust from or what problems you will encounter, as long as they can get what they want.
Jump to: