They want your money by all means possible - page 5.

bhooscream

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Quote from: Crypt0Gore on October 07, 2022, 09:58:56 AM

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.

Exactly true, scammers are growing and developing. They create a project as legit as people see and analyze it. However, for new projects, the risk of being scammed is very high. We can see also although they have a thousand community members on their social media especially telegram groups doesn't mean that they are not scamming. In fact, many of them are exactly scams.
Although the project has been listed and being a top coin, this also doesn't guarantee that the coin is a scam. So, what to do?
One of the ways is by learning, keeping updated, and also analysis every time what we want to invest. And the most recommended investment is only investing in Bitcoin by buying in a reputable top exchange and saving them in a personal wallet.

blockman

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Quote from: sulendra12 on October 11, 2022, 06:30:42 PM

Quote from: Crypt0Gore on October 07, 2022, 09:58:56 AM

4. High volume on the listed exchange doesn't make a project clean from going scam.

This particular point could benefit for some people where they can make some quick profit when they buy it low before the scam begins, in early days you can do that easily but it's rather difficult to do it now.

And the scammers will take advantage of it when there's a huge volume of the project. They will make it look like they're more legitimate because traders will be having that sense of belief that it's a good project because many traders are on it.
Well, do not forget that volumes are temporary and if it's currently up then it doesn't mean a project like theirs will remain as high as it can because if these developers starts to rug pull, everyone has got no idea when it will happen.

sulendra12

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Quote from: Crypt0Gore on October 07, 2022, 09:58:56 AM

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,

You know they can just use other peoples identity from the internet with fake Linkedln and stuff just to make their profile looks legit but with shitty intentions behind it. It's easy to fake identities in current days especially when you are dealing in cryptocurrency community. It's on end user to filter those stuff out.

Quote from: Crypt0Gore on October 07, 2022, 09:58:56 AM

4. High volume on the listed exchange doesn't make a project clean from going scam.

This particular point could benefit for some people where they can make some quick profit when they buy it low before the scam begins, in early days you can do that easily but it's rather difficult to do it now.

Silberman

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Quote from: Crypt0Gore on October 07, 2022, 09:58:56 AM

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.

And what better example of this than Do Kwon, Kwon is now world famous for scamming and ruining the lives of a lot of people and he is still denying any wrongdoing on his part, he is completely shameless, which is why I cannot wait for him to be found guilty and see him being thrown into a jail for years or even decades to come, as such potential investors need to be very careful because the only reason the police is behind Kwon is because of how high profile the scam was, but if his project was way smaller it is possible that nothing would have happened to him and he would have been able to steal a lot of money and never face the justice system.

GeorgeJohn

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Quote from: The Cryptovator on October 07, 2022, 02:04:55 PM

Preventing scams becomes harder nowadays. Even public teams scam investors. Investing in a brand-new project becomes like choose. But serious projects have some symptoms that would help prevent bigger losses.

Lol..you know that scammers have varieties of information to decode some of the information that will trigger an investor to venture into investment, from my observation, i think that some scammers derive a new process of getting people on trap, so it will be very difficult to eradicate scam, because right now nobody knows the project that is scam and the project that is legit for investment.

tvplus006

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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.

mdzahed134

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Especially in this bearish market, i have seen a lots of project team making their promotional videos on youtube with showing their faces just they trying to believe investors especially newbies investors is their main target. But i see mostly got SCAM at end of the day, so i agree with you if team will reveal their face that will consider which project is real.

RussianEnglishTranslation

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Quote from: Crypt0Gore on October 07, 2022, 09:58:56 AM

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.

If you are concerned about scams then only invest in projects that DCG or Alameda for example invested in, big name projects like XRP and ICP. Also, any project that was invited to Davos or is promoted by the WEF will also do well. Illuminati coins you could say, because they never lose.

bots1

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It is very difficult to avoid being scammed in a project especially for beginners because most beginners have limited ability to research. However, if they understand that basically investing in kripro has risks, then they are ready for the risks they will face. But at least in order to minimize the risk of investing in new projects, it is necessary to conduct detailed research and analysis.

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Quote from: Crypt0Gore on October 07, 2022, 09:58:56 AM

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.

This topic would have been more better at the Beginner and help section, maybe to clearly enlighten those that are curious to invest in a newly birth projects. These guideline have to take proper record of for anyone wanting to invest, something I observed about most projects is they are too real to scam people at this level you might felt so released with the project team at last they turned to be scammed projects.

d3nz

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Quote from: Crypt0Gore on October 07, 2022, 09:58:56 AM

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.

I agree, they are targeting people who are new to the world of cryptocurrency since they know these kinds of people are eager to double or triple their money and not think that it can be a scam.

This kind of scam project should not be listed on the exchange since it obviously scams and to be good to be true all of their features and benefits for investors.

But, it is still risky and they are entertaining this kind of scam project which will turn to their loss.

Xxmodded

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Quote from: tvplus006 on October 10, 2022, 12:58:31 PM

Scammers have always been and will always be, as long as people have such a vicious quality as greed. Therefore, as a rule, people do not conduct a full-fledged evaluation of the project before investing, when they are offered the opportunity to make quick money in a limited period of time.

Scammer one step close smart than investor and always success building new project and get intersted respond from many investor, lately scammer will retired if they can get new investor want to invest at their coins. Many time found when failure or get scam woth previous project, the scammer build and make another new project but easy for him get reapind from many investor want to participant at his project. Need to be smart investor never give second chance for scammer by joining with their another peoject after failure before.

nurilham

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Many scam projects are now using hype projects with their popularity. I mean that we have found so many new projects created by popular people, but the token or coin is directly falling down to be shit and dead coin even after listing. This is also called a scam project with their name, although they always ensure that their project is legit, in fact, they can't do anything to make their project back to be on track and good again. They will directly leave the project because they have got the money.

But it is related other scam projects with anonymity, this has been since a long time ago. Scam project is actually quite easy to avoid, but many newbies are always trapped because they are really attracted with the high profit promised by the devs.

tvplus006

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Quote from: evichi on October 10, 2022, 07:58:38 AM

Presently, scam has become a lot more critical than ever before...

Scammers have always been and will always be, as long as people have such a vicious quality as greed. Therefore, as a rule, people do not conduct a full-fledged evaluation of the project before investing, when they are offered the opportunity to make quick money in a limited period of time.

Lagduf

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Quote from: Crypt0Gore on October 07, 2022, 09:58:56 AM

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.

The fact is that investors have become less willing to invest in projects with an anonymous team, so scammers can show their faces on AMA and YouTube videos. Scammers are getting craftier and more sophisticated every year, so even an experienced investor can fall into a trap.

Investors known their identity so well but the problem is they were living in the different countries, that makes investors feel so difficult to deal with those scammers who stolen their money. Scammers didn't care anymore about their identity. These days it's very hard to know whethera new project was a scam or not. it's caused by even when team revealed their face and it can't give guarantee if the project was not a scam project.

evichi

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Presently, scam has become a lot more critical than ever before. It is as if some people are head bent to scam people - coming all out to steal. IMO, it appears the era of Decentralized Finance witnessed a lot of scam activities especially aspect of fake tokens being received in wallet - what has never happened before. It has become really bad. We all should be more cautious especially newbies in every move we make with crypto assets.

BuNga_cute

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Quote from: nakamura12 on October 08, 2022, 04:08:16 PM

I agree with the thread title that scammers use different ways to scam there victims. I think you know about twitch announcing the ban of gambling stream because of scammers using the platform to scam money. It's not just in gambling but also in investing coins or tokens. Just as what the post previous about what you have to do like investing in new coins/hype coins and old coins is very true. Not all hype are legit because some are hiding behind the hype to scam people with their so called project.

For a long time, no one would think about the fate of people as long as they earned money. I think they have lost their morale because they can openly deceive people. Not only in the cryptocurrency world but we can see things like this in everyday life. They even dare to take someone's right to life just because of the money they are after. This has become commonplace, even those closest to us may have bad plans for us. Now we have to be more careful even with our closest people.

In life there are always people who will do evil to us, human nature in general is dislike of us, always be sure to choose friends from people we have known for a long time, and for investment suggestions, of course we must have good analytical skills so that it does not depend on Others' opinions.

Therefore we must not be too greedy and excessively obsessed with money, because if we get enslaved by money, there we will use any means
to make money. Even though the way to make money can hurt other people, it is not a problem for people who are enslaved by money.
I once heard advice from someone that we shouldn't trust humans 100%, because sometimes humans are scary creatures. That's why so many
in the crypto world we find scams, because if people are obsessed with money, they are willing to do anything to make money. So we really have
to be careful if we get investment offers from other people, don't immediately trust anything that other people offer, especially if there is an offer
that is to be good to be true, that is one of the characteristics of fraud. Like you said we have to do our own research and analysis to make sure
we don't make the wrong decisions. Most people are deceived in the crypto world they are too lazy to learn to do research and analysis, so they
invest relying on other people's opinions.

Issa56

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Quote from: BitDane on October 09, 2022, 06:17:33 PM

At least we have a person to go after if their project scam us.

I don't know what you mean by at least we have person to go after, do you think you can find them? or do you think they will tell you their actual location? They might reveal their identity but those not mean you will find them, we just have to be very careful so that we won't fall victim.

Quote from: Marykeller on October 09, 2022, 01:45:27 PM

As a newbie, that's why it is advised to invest in what you can afford to lose in case you fall victim to a scam project.

You are right, always invest what you can afford to lose, but to be honest no matter how small the amount you are scammed, you will feel bad. if am being scammed, no matter how small the amount am always feeling bad, not because of the money I lose but for the reason that someone is smarter than me.

Quote from: Marykeller on October 09, 2022, 01:45:27 PM

it is hard to differentiate between a good and bad project that wants to scam investors. No project is to be trusted again whether an old project or a new project. An old project can go soar in the future.

It's really hard to identify a good project from bad one, some projects looks so real, but at the end it ends up to be scam, in this current bear market I believe most projects that are launched are scam project, that's why we should be careful with new projects.
I know even old project can't be trusted, but I still believe it's better to invest in old project than you investing in new projects.

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The problem is crypto doesn't have enough regilation framework that will give sanction to the scammers. This is also making report being created to the police is very hard to be processed. Crypto needs regulation but yeah it's not all of things needs to be regulated but this is a very important thing for crypto right now. Scammers reveal their faces to the public just to scam them. That's pretty sad to said that but this is the truth

The regulatory framework is not fully implemented properly for cryptocurrencies, so actions against scammers do not get more attention from the authorities unless the fraud has disturbed many people and resulted in huge losses.

Scammers move from one review project to another, so they are free to create any project to trap their prey. their targets are beginners and people who have a lot of money but neglect their own security.

A new analysis finds consumers have reportedly lost more than $1 billion in cryptocurrencies to fraud since 2021.
The FTC found that: Instagram (32%), Facebook (26%), WhatsApp (9%) and Telegram (7%) were the top social media platforms used for crypto fraudsters.

Fraud rate graph from 2018 to 2022
source: https://www.ftc.gov/news-events/news/press-releases/2022/06/new-analysis-finds-consumers-reported-losing-more-1-billion-cryptocurrency-scams-2021?utm_campaign=https://www.ftc.gov/news-&utm_content=1654267785&utm_medium=social&utm_source=twitter

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Quote from: Crypt0Gore on October 07, 2022, 09:58:56 AM

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.

At least we have a person to go after if their project scam us.

Quote from: Crypt0Gore on October 07, 2022, 09:58:56 AM

2. A audited smart contract project can still scam you.

The current smart contract auditing team are just to check the code and does not regulate the project. They just cite the weaknesses and possible exploit and glitch but are not responsible in stopping a scam.

Quote from: Crypt0Gore on October 07, 2022, 09:58:56 AM

3. Scammers can spend a lot on their website to make it look attractive just to make you invest your money.

True this kind of practice already existed way back 2017 where lots of scam project show a great website and luring unsuspecting investors into investing on the platform.

Quote from: Crypt0Gore on October 07, 2022, 09:58:56 AM

4. High volume on the listed exchange doesn't make a project clean from going scam.

Scamming all depends on the decision of the project team so volume has nothing to do with the scam plan.

Topic: They want your money by all means possible - page 5. (Read 1350 times)