Why the increase of fake crypto project?

[Delgboke]

What can we say is the main reason behind the sudden increase in fake and scam cryptocurrency project I don't know you have been encountered so many airdrop channels were alot of crypto airdrop are been listed and they are succeeding on daily basis and nothing has been done about it, the more the crypto market is growing the more fake and scam coins are growing,is it that nothing can be done to stop scam coins?

[Master107]

Definitely, don't participate is the solution to stop becoming scam victim. It will be hard to detect scam project unless it is obvious.

Some project wants to succeed but because of market volatility and low trust from community. The project turn into scam.

Self awareness and be careful of what everyone's doing is good shield though.

[Crypto Guard]

Currently, with the increasing number of existing projects, it does provide opportunities for scammers to develop. And it is happening now and it is real.

[robelneo]

So many newbies are coming into the community and airdrops and new coins are big attractions because they all want to be the early birds just like what happened to Bitcoin and Ethereum, and because of this many scammers are creating new coins as airdrop and eventually scamming investors.

[Sentinel]

I think because more and more people join crypto, the more bad people will act to cheat by becoming scammers. And this is definitely the case in crypto.

[Vx1]

In this cryptocurrency there is a great potential to get money easily by creating fake projects, and the target of these scamers is beginners. 
Therefore we have to be very careful here, especially investors in investing your money. Don't be sorry for losing money needlessly on a fake project.

[flyaccount]

Because so many crypto projects have sprung up, the percentage of projects that are scam is also increasing. And more and more project actors, both participants and developers.

[Galley]

For many people, everything related to cryptology is completely new knowledge. Immediately faced with many incomprehensible things, people are lost. And when a person is at a loss, it is very easy to mislead him. And scammers use this with success. And now a lot of people have come to cryptography. Accordingly, scammers have become much more active.

[Freemind]

The rise in scams is unfortunately normal. Where there is wealth (money, gold, diamonds) there will always be many people interested in deceiving others. With cryptocurrencies it was not going to be different, to that we have to add the new Bitcoin ATH that we saw a few weeks ago. The more people in the world are interested in cryptocurrencies, the more scammers there will be, it's a matter of statistics.

[Thymoty]

It is very simple to analyze a scam project. Usually the website templates they use are very common and can be purchased on envato. Second, their whitepaper is mostly copy-paste. Third, usually the return or profit they offer doesn't make sense. We must be able to identify these scam projects, so that we can avoid their scams.

[Pheonyx]

I'm afraid there is nothing we can do about it. It is their choice to be that kind of person and it will always be there throughout the centuries as long as there is a progress where money is always involve.

[Fivestar4everMVP]

It's really unfortunate and it baffles me alot, the fact that there really not much we can do about this thing is another nightmare, coupled with the fact that crypto currencies are unregulated asset class. So I think the best way to not be scammed by this fake projects is to avoid them totally once you find out they are fake, if watched closely, you discover that most of this fake projects launch with an anonymous team or team with fake profiles, all things are clues to deciding whether a project is real or fake.

[TomPluz]

Individually, there is nothing we can erally do to stop scammers and hackers to wreak havoc in the cryptocurrency industry. But we can at least help by never ever participating in those scams, that way the source of support and money can stop flowing to these evil people. The big reason why we have so many scams and frauds is that there are still people they can victimize. We need to educate people to never be entice to be on the sides of these scammers. I am not blaming the victims, though.

[Condorlaib]

Individually, there is nothing we can erally do to stop scammers and hackers to wreak havoc in the cryptocurrency industry. But we can at least help by never ever participating in those scams, that way the source of support and money can stop flowing to these evil people. The big reason why we have so many scams and frauds is that there are still people they can victimize. We need to educate people to never be entice to be on the sides of these scammers. I am not blaming the victims, though.

Undoubtedly, we have a lot of people on the forum who have more experience and knowledge, who can easily determine the quality of the project, whether it is fraud or not. And only if we discuss together any possible fears regarding this or that project, there will be more information for users and for example, no Bounty Hunter will support a fraudulent project.

[Callisto]

Yes, I agree with you there are more scammers in cryptocurrency every day. This is especially true in bounty campaigns and airdrops. Unfortunately, nothing can be done about this, because no one forces the user to enter them by force.