Why the increase of fake crypto project?

[aiviaa485]

We can assume that cryptocurrency has really become a contested digital asset so that the hype of this cryptocurrency is high and makes the value of this cryptocurrency very much in demand and there are lots of fake cryptocurrency projects.
Apart from being fake, there are also lots of cryptocurrencies that end up being dead coins or becoming Scammers coins and I have felt this since I first met cryptocurrency in 2017.

[innerpumper]

Often with the breadth and growth of cryptocurrencies for the better, crime also gets easier.
They are duplications of successful projects, that's what they usually do to take investors' money.
If they see 1 successful project with an interesting concept, they will imitate it at least by making 10 similar projects of course with the same developer (maybe different social media) but they will disappear after getting what they want, namely money we invest

[Jaephoenix]

This is crypto. And it is a hotbed for criminals and unscrupulous elements. Unfortunately we can't help the situation or stop it. Always keep a beady eye around

[Fenix]

The cryptocurrency market, including new projects, attracts various scammers for several reasons. First of all, this is the use of the global Internet and in the cryptocurrency market the opportunity to be anonymous in it. This is very convenient for fraudsters and makes it difficult for them to be searched by law enforcement agencies. This market is generally new for many users and they can be very easily deceived in this regard. In addition, very large amounts of money are concentrated here, and the sphere of cryptocurrencies itself is largely unregulated by states, and this, in general, is very attractive to scammers.

[mohdelayo]

Scams will be highly unavoidable in the blockchain and cryptocurrency ecosystem, this is mainly due to the fact that the ecosystem is driving an emerging technology that is widely believe to hold a lot of growth potential. Startups will steadily get attracted to utilizing the technology and so will scammers.

[TOP_ETH]

how to stop fake coins unfollow them and just do a good airdrop because fake coins need a lot of time to attract investors

[silkytakyaan86]

You are right. This is a very sad thing. And the disappointment is overwhelming. From projectors to bounty managers and hunters, to investments, all scams are plagued by projects and currencies. Everyone is facing deception. And it's sad. Their quantity is also increasing. We just have to be alert. I don't think there is any other solution.

[Freemind]

how to stop fake coins unfollow them and just do a good airdrop because fake coins need a lot of time to attract investors

No, it's actually the other way around. Scams are the projects that need the least time to attract new investors since they are made precisely for that, they are not like a normal project that hopes to grow organically. Scams often do very generous airdrops and manipulate the price to attract less experienced investors, and there are a lot of new investors in the market every day, which is why, sadly, there are so many scams, this is why they are on the hunt for investors with no crypto experience.

[Afony]

And if at the same time the project begins to gain momentum and investors begin to come to the moshenic project. They probably won't stop throwing it and will start manipulating the price further.

[Callisto]

There are scammers in any field, there are also a lot of gullible people in the field of cryptocurrency, it is also very difficult sometimes to discern scam about projects that are being launched. Therefore, there are more and more scammers in this business.

[mahadev]

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?

The reason why, we see the face projects increase, because so easy to create projects.
We know there are many smart contract platform, that we can do it.

[Speaker]

Because human greed and recklessness knows no bounds. And as long as people believe everything they see and everything they are told, fraudulent projects will continue to appear.

[cheezcarls]

They are doing that because of getting desperate to become rich by simply scamming and hacking the hard-earned money of the victims. And yes I was one of the victimized whose 3 wallets got hacked due to the malware I have accidentally engaged with. Thus, my hard earned money of more than $12k+ as a guy living in a 3rd world country was almost vanished. Luckily others are not withdrawn maybe because of the bot limit plus I think the hacker forgot to purposely load additional gas fees to drain more of my assets.

They aren’t stopping until now. All we have to do is simply not in a rush of anything but take our time in doing our own diligence when we encounter these scammers again in any way.

[Anthography]

People want to become rich quickly and they don’t have knowledge. Scammers are taking advantage of such psychology and duping them with crypto-related scams more and more.

[gurunanakji777]

Scammers target innocent investors and entice them for the investment or give them some giveaways to attract them to the project. As we all know crypto is not regulated widely so scammers easily scam the people unless the market is fully regulated such things will happen again and again. We can save ourselves if we research properly before investing. Scammers are not liable to any authority so they easily scam the people. Once there will be strict rules and regulations these things will be reduced slowly-slowly.