Too many project SCAMS - PLEASE CAREFUL - page 2.

H1N1

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Activity: 812

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Quote from: ?? on ??

This is a very important warning for novice investors, because the increasing number of crypto enthusiasts to date makes it a great opportunity for rogue elements to take advantage of it to commit fraud. Learn exactly what you are going to invest in, lest the lack of research you do makes you trapped in a fraudulent project.

Yeah, scammers are always trying to find a way to steal people's money, many fraud projects has been created for that.
I think the safest way to invest on a project is through a launch pad, for example Binance launch pad. It is safer than invest in public startup projects which we don't know yet unless we conduct some intense research about it.

hidingyou

member

Activity: 291

Merit: 13

Quote from: ductruong on December 31, 2020, 04:32:35 AM

By the end of 2020, along with the strong growth of Bitcoin, some people used the trust of many to scam.
For example:
- Create virtual projects,
- Create virtual tokens,
- Create an investment website for the purpose of calling for investment,
- Create an airdrop that calls for people to deposit fees to pay tokens
- ....
Everyone should be careful when participating in projects like that.
Thank you so much.

I bet newbies today are FOMO and FUD. They fail to see the good projects because they are hyped by scam projects ( I am telling this not to be toxic but because I was once like them and wants to help them by reminding them my experiences) they should fix that trait right away. research thoroughly those projects to see if they are legit or not so you won't waste your time and money

MoneyJ

hero member

Activity: 1022

Merit: 504

GoMeat - Digitalizing Meat Stores - ICO

Quote from: Princejebs on September 01, 2021, 04:50:13 PM

Quote from: pealr12 on August 29, 2021, 03:30:38 PM

No amount of trying to be careful that can prevent anyone from fall project, you may do your possible best to do a background check on a project, some still turned out to be a scam because any project can easily change.

As Long as this environment remains unregulated, scam and fraud activities will remain constant, even in a the outside environment of traditional finance, there still exist some numbers of reported scam talk less of here that's not watch by the government, they might be doing privately but since crypto are pseudonym in nature, you can't trace all the bad actions in this place.

True to its sense. Regulation must come first to lessen being scam. But the problem is where can decentralized applications fitted in . In what area of government would likely be in harmony as to let it spawn into a mass utility for the people such as cars for transport or medicine for health.

Princejebs

member

Activity: 560

Merit: 26

Quote from: pealr12 on August 29, 2021, 03:30:38 PM

No amount of trying to be careful that can prevent anyone from fall project, you may do your possible best to do a background check on a project, some still turned out to be a scam because any project can easily change.

As Long as this environment remains unregulated, scam and fraud activities will remain constant, even in a the outside environment of traditional finance, there still exist some numbers of reported scam talk less of here that's not watch by the government, they might be doing privately but since crypto are pseudonym in nature, you can't trace all the bad actions in this place.

kro55

sr. member

Activity: 1610

Merit: 301

*STOP NOWHERE*

Quote from: ductruong on December 31, 2020, 04:32:35 AM

- Create an investment website for the purpose of calling for investment,
- Create an airdrop that calls for people to deposit fees to pay tokens

These two methods are the oldest but people are more attracted to them and fall prey to scams. Only greedy people fall prey to these two deceptions. I will not call the people who want to earn money without hard work and find these shortcut ways ignorant but they are greedy. No matter how hard you try to convince them, they will never understand, unless they are deceived a few times. But, there is no alternative to preventing these scams without raising awareness.

dhemasm

full member

Activity: 1829

Merit: 134

Moderator

Quote from: omone1 on September 01, 2021, 03:00:59 PM

I have resolved to stop buying stupid IDO and preslaes. I lost over 20+ ETH to useless projects. People just wake-up and create a copy cat tokens without any use case only imitation. Where are all the Y family series? BSC now has huge scamming projects that where able to win the people's heart, all of a sudden is a flash loan attack and that ends the project.

That was really sad to hear, Well from my perspective current market especially IDO & Presales didn't have new concept and use case, Basically most of them just recycling same concept for example as we can see, Farming, High APR, Reflect For DeFI and many more but even like that not all IDO was bad though, Just make sure too join on some big IDO platform and if possible just sell your invesment as early as possible especially after getting some profit after listing Price + Bonus, Just make sure to always do some deep research and avoid it possible, It's better to invest on some reliable crypto like BNB, ADA, BTC, ETH and many more, Good luck!

ScamViruS

hero member

Activity: 1876

Merit: 721

Top Crypto Casino

Quote from: omone1 on September 01, 2021, 03:00:59 PM

I have resolved to stop buying stupid IDO and preslaes. I lost over 20+ ETH to useless projects. People just wake-up and create a copy cat tokens without any use case only imitation. Where are all the Y family series? BSC now has huge scamming projects that where able to win the people's heart, all of a sudden is a flash loan attack and that ends the project.

You realized after the expensive loss. Most of the projects that are coming in the market now are aimed at fleeing with the money of the investors. Which is why they want to create hype about that project in different ways. Since you are a victim of these projects you may have seen how these projects fool people.

Most investors do not have the ability to stay in the market after gaining such a valuable experience like yours. So they should spend time doing market research which will bring good results in future.

omone1

member

Activity: 845

Merit: 52

I have resolved to stop buying stupid IDO and preslaes. I lost over 20+ ETH to useless projects. People just wake-up and create a copy cat tokens without any use case only imitation. Where are all the Y family series? BSC now has huge scamming projects that where able to win the people's heart, all of a sudden is a flash loan attack and that ends the project.

Muslimin mj

member

Activity: 569

Merit: 18

Goldeth.io

Quote from: ductruong on December 31, 2020, 04:32:35 AM

By the end of 2020, along with the strong growth of Bitcoin, some people used the trust of many to scam.
For example:
- Create virtual projects,
- Create virtual tokens,
- Create an investment website for the purpose of calling for investment,
- Create an airdrop that calls for people to deposit fees to pay tokens
- ....
Everyone should be careful when participating in projects like that.
Thank you so much.

This type of scam has been around for a long time and scams like this often occur at a time when bitcoin is on the rise and the popularity of altcoins is also being discussed. So the scammers take the opportunity to create various types of scammed products. then we all have to be careful, especially the newbies.

tees420mar

jr. member

Activity: 322

Merit: 1

I would say crap or failed projects. We all know many devs make coins with the intention to loot the money from the investors by enticing huge profits. Even most of the projects failed in 2-3 months after the launch. Recently I noticed a trend many investors are trying their luck by buying meme coins and the majority of the buyers lose money in meme coins so we should be focused only on trusted and tested coins. I don't say new projects are not good but we have to be very selective when plan to buy.

Swordsoffreedom

legendary

Activity: 2884

Merit: 1115

Leading Crypto Sports Betting & Casino Platform

Quote from: ?? on ??

New cryptocurrency users will be quickly swayed by this if they are not careful and get tempted quickly. Problems like this are very common not only now when bitcoin is soaring, but when bitcoin is far from its current price, scammers keep making plans to scam people. You have warned in this thread and also hope that those of us who are familiar with crypto should remind our closest friends not to be influenced by scammers.

Not only newcomers but also many professionals are also getting the victim of scam projects. Many times people can make mistakes due to unconsciousness. But some people make the same mistake over and over again and they are the victims of repeated scams, causes of their excessive greediness. You know, only greedy people will fall for the Ponzi scheme, it is a very common but successful method to trape the greedy people. You can't prevent the scammers but you can spread awareness, so everyone should use their own brain before investing in a project.

AhmadM

sr. member

Activity: 1008

Merit: 308

Quote from: sisikin on August 30, 2021, 03:21:52 AM

Even if you are careful, you will be deceived. The team of scammers is very mature now, and they don't feel anything on the surface.

IMO at least it would be more relieved if you invest carefully plus doing it based on your own research even the result is not really satisfying rather than blatantly following the hype without any thought before. As you said there's a chance that the scammer becomes more mature, take advantage of any possible vulnerability in the loophole, or deploying a new scam method but it isn't the reason for people to be careless.

kapalmabur

sr. member

Activity: 2002

Merit: 250

Quote from: denasha92 on August 29, 2021, 06:27:18 PM

Quote from: matico on May 29, 2021, 09:52:31 AM

There will be scam projects every now and then, what is most important is to safeguard yourself from falling victim of these scam. In Cryptocurrency, it's is very easy to detect scam coin except you are greedy. When you buy any Coin, try to find out who is behind the coin and decide if such coin is fully decentralized! These are few checklist for you to consider before investing in any coin!

true, Scam project will never die. they will keep appearing time to time. there are some websites and applications that can show us the details about the projects. it can help us a little. but still, there are some projects that have a high trust score but they turn into a scam or abandoned in the end after collecting some investors money. so choose the project wisely and DYOR carefully.

That's true from the past until whenever I think scam projects will always exist,
Besides that, what makes all of us nervous is that they are also getting smarter in terms of making the project as if it was a promising project

Matteorsini

newbie

Activity: 59

Merit: 0

Quote from: ductruong on December 31, 2020, 04:32:35 AM

By the end of 2020, along with the strong growth of Bitcoin, some people used the trust of many to scam.
For example:
- Create virtual projects,
- Create virtual tokens,
- Create an investment website for the purpose of calling for investment,
- Create an airdrop that calls for people to deposit fees to pay tokens
- ....
Everyone should be careful when participating in projects like that.
Thank you so much.

Before venturing into any investment, you should always conduct an extensive research to lessen the risk of getting scammed or losing your money. Carefully analyze the project's mission and vision. Check out its white paper, roadmap, and affiliations. They must have a dedicated, legit, and transparent team. A positive community that supports the project is very important as well. I have taken into account the above criteria, that's why I feel secured holding some top-performing cryptocurrencies in my portfolio including this undervalued gem called Stakenet XSN.

Tomohisa

full member

Activity: 360

Merit: 100

Quote from: CLS63 on August 29, 2021, 05:22:48 PM

Not only the number of scam projects is increasing. But also, the kinds of scam projects are also changing in time. Now, there are 11468 coins in the market according to Coinmarketcap. This is an amount more than we need. As the number of coins increases, scam projects are also seen more common. At this point, reading the whitepaper of a project is really important. You should understand first what kind of a project you are dealing with. After a deep research, you can make your own decision about whether to invest into it or not. Not all the investors are doing this unfortunately but I hope to see most of them doing it. This can help decrease the number of scammers like this.

Although the number of scam projects is increasing but investors today are also smarter than they were before. All the basic things that investors today doing before then invest in a new project like you said, reading the white paper but also checking on team profiles, check if they're real people or face generate by AI,... Investors ain't stupid and easily got scammed like they used to be and this is a good thing.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: haleema on August 30, 2021, 08:48:04 AM

Thanks for your advice, scamming is everywhere, but only greedy & non educated person is the victim on scam.
First learn then invest, what is Crypto how that work, many of peoples thinking Crypto is money making mission, you will be rich if you invest in Crypto, this concept is not good, if you don't know how to walk.

You are wrong to believe that the victims of fraud are greedy and uneducated people. Since not everyone understands how a smart contract works, so everyone can become a victim of scammers who are very smart representatives of the crypto industry, are able to steal money from your wallet in this way.

Baimovic

full member

Activity: 1210

Merit: 100

Every year there will be a lot of such things that appear in crypto especially when the price is high and when a new system is launched and gets high hype then it becomes an opportunity for them to create some scam projects taking advantage of the moment, it is clear that thoroughness and clear analysis must be done when we will go in and invest in new projects.

adibi12

member

Activity: 285

Merit: 10

That is a common thing in the crypto world, it is true that sometimes there are scam projects by playing in the airdrop to deposit funds and to those who are not responsible, and there was even a project in the past where the project had already reached hardcap, in the future. the project has become a scam, I wonder how they feel about the suffering of the people they have scammed.

concept2

sr. member

Activity: 750

Merit: 258

Today is 30/08/2021 and you are correct. There are many scam projects stealing people' money and disappear. Investing with a mind full of knowledge will prevent you from putting money in wrong places. Back in 2017-2018, many people in my country lost their money in fake crypto projects which turn out to be multilevel marketing businesses or HYIP. Always raise your attention to any project because your favorite one can turn into devil, too. Remember to take care of your money since there is no third party to surveillance and save you from losing money. Cryptoworld is for individuals to learn and experience by themselves

haleema

jr. member

Activity: 560

Merit: 4

Thanks for your advice, scamming is everywhere, but only greedy & non educated person is the victim on scam.
First learn then invest, what is Crypto how that work, many of peoples thinking Crypto is money making mission, you will be rich if you invest in Crypto, this concept is not good, if you don't know how to walk.

Topic: Too many project SCAMS - PLEASE CAREFUL - page 2. (Read 3906 times)