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Topic: Why Coinmarketcap and Coingecko help scammers ? - page 2. (Read 313 times)

legendary
Activity: 3136
Merit: 1172
Leading Crypto Sports Betting & Casino Platform
One of the biggest and well veiled scammer exchanges is Bibox, when peoples can't take their deposits from December 22. I find on the internet some dozen posts about it on different platforms. But Coinmarketcap and Coingecko think what this phrase: "We have received multiple reports from users being unable to withdraw funds from Bibox. Please exercise caution. "which you can see in exchange description enough for disclaimer and continue place quotes of scammers. I don't think so. They undermine confidence in the crypto industry.

Coin list sites will list almost everything because they least care about the scam and only care that everything is listed on their site so people do not need to visit any other site for coin/exchange tracking. Even such sites will not hesitate to list the scam projects if those projects paid them.

You may use these listing sites to get general information about the coins but if you want to invest in any coin and/or in any exchange better do the due diligence yourself. The money is ours and we need to take the responsibility of investing it in the trusted project.
copper member
Activity: 2114
Merit: 1814
฿itcoin for all, All for ฿itcoin.
Coin ranking sites (coinmarketcap and coingecko) don't care much about the legitimacy of a project or exchange. What they mostly care about is traffic so that they can earn money from adverts and referral links

If you don't do due diligence yourself, and get scammed. Then you are to blame.

I made this post about 4 years ago about how investors and traders are getting fucked left, right and center... but at that time it was mostly about ICOs, but the narrative hasn't changed

Current situation, how investors/traders are enriching these three.
hero member
Activity: 644
Merit: 661
- Jay -
Agree with me - forum and exchange are different things)
Forum and coin tracking tools are two different things but neither of them is responsible for vetting possible scams. My example was to show that websites can offer hints that an exchange or mixer is a scam without necessarily taking it down. This does not mean they help scammers, it means you should do your research yourself.

- Jay -
newbie
Activity: 8
Merit: 4
they probably can't take responsibility or have a clear approach in these situations and "notify" users with a pop-up is the only legal action they can take.
In general,  I will suggest to use the "basic" rule of not using "little known" or "unreliable" exchanges.
If you how service got ten or more complaints from yours verify users that "pop-up" is weak solution and "can't take" or "can't want" in this question ...

If you take this isolated incident, it does not show either coingecko or coinmarketcap to be helping scammers anymore than the forum does. Here in the forum scams are unmoderated, it rather has a trust system which serves as guides for users with pointers like trust scores and flags. This is a similar disclaimer to what was put up for Bibox exchange.

This does not mean I am saying either platform does not support scammers in other incidences, but not in this case.

- Jay -
Agree with me - forum and exchange are different things)
hero member
Activity: 644
Merit: 661
- Jay -
If you take this isolated incident, it does not show either coingecko or coinmarketcap to be helping scammers anymore than the forum does. Here in the forum scams are unmoderated, it rather has a trust system which serves as guides for users with pointers like trust scores and flags. This is a similar disclaimer to what was put up for Bibox exchange.

This does not mean I am saying either platform does not support scammers in other incidences, but not in this case.

- Jay -
legendary
Activity: 3276
Merit: 3537
Nec Recisa Recedit
they probably can't take responsibility or have a clear approach in these situations and "notify" users with a pop-up is the only legal action they can take.
In general,  I will suggest to use the "basic" rule of not using "little known" or "unreliable" exchanges.
newbie
Activity: 8
Merit: 4
One of the biggest and well veiled scammer exchanges is Bibox, when peoples can't take their deposits from December 22. I find on the internet some dozen posts about it on different platforms. But Coinmarketcap and Coingecko think what this phrase: "We have received multiple reports from users being unable to withdraw funds from Bibox. Please exercise caution. "which you can see in exchange description enough for disclaimer and continue place quotes of scammers. I don't think so. They undermine confidence in the crypto industry.
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