The More Famous, The More Scammers in BSC !!

[Max Way]

I think every time there is a trend, it will never be separated from the person who takes advantage (scamer). It is undeniable that this cannot be avoided by anyone. The best solution is how we can be more selective in choosing the projects we will invest in. Keep in mind love your money before you actually lose it by things that shouldn't be done.

[dodok]

yes, that's true in the binance smart chain network, now many projects using the binance smart chain network are scams, if this isn't fixed then binance's reputation will be bad and many investors don't believe in the projects on the binance smart chain this could be  will be very detrimental to binance.

[pelana vreo]

Low network fees make it easy for developers to create new projects, then they create tokens and run projects with low liquidity on pancakeswap, I have invested in many new projects in BSC network, almost 70% of those new projects ended in fraud, there were several projects which the developers left and they created a new project again.

[KryptoBull]

New projects in a new ecosystem always have high opportunities and high risks. We should focus on tokens that are at the top of the ecosystem instead of new projects that lack #DevelopmentTeam  information. Let's see them as an opportunity for us to participate with a very small amount of fun like a lottery.

[lepbagong]

Low network fees make it easy for developers to create new projects, then they create tokens and run projects with low liquidity on pancakeswap, I have invested in many new projects in BSC network, almost 70% of those new projects ended in fraud, there were several projects which the developers left and they created a new project again.

The character that is often done by all many developers today is, always doing to publish new projects and old projects are always abandoned and there is no longer any intention to do development so that the project can improve. for them it is easier to create a new project than to develop a project that has already been launched, this results in many projects being stalled and not being managed anymore, and usually always using the BSC network which is easy and cheap.

[Zezari]

Without this, there will never be scammers in the cryptocurrency market wherever there is something to profit from, you just need to be careful when investing in some project.

[Bobcrypto]

Yes, there is every tendency for a every popular system to be flooded with various form of scam or fake projects. We had so many scam and fraudulent projects during the ICO days because there were huge success recorded, unfortunately the current IDO system has also been flooded with the same situations. As a matter of facts, the former system (ICOs) was hijacked by scammers and fraudulent projects teams and this gave birth to the IEOs. The IEOs has recorded great successes with little or no ugly incidents of scam or fraudulent issues. In my opinion, IEOs has not been as popular as the ICOs and IDOs but it has been the best options to raise fund for new start up projects so far. I think there has been no bad news from the various IEOs carried out on some of the Exchanges  globally. It has been a huge plus for IEOs.

[mrongos]

The BSC network is indeed a lot of tokens that end in scams because it is very easy to create new tokens at a very low cost, it will make it easier for many people to create trash tokens, therefore before investing in BSC it is better to study the project being developed so that when If you have a useful product, it will make the price increase.

[vegasus]

What you mean by here is maybe because many hype projects are raised in the BSC network, and most of the hype projects are scams or shit ones. We can see many new hype projects will be failed when they are doing listing, they will only utilize the pump and then the coin or tokens will dump drastically. That is why being careful is a must

[DAMKAR]

There are many steps like this in the cryptocurrency environment, so be careful !
We have to be careful with the various types of fraud that exist on IDO or ICO platforms that use the Binance Smart Chain blockchain.
I often see IDO platforms that use tokens from BSC, for projects 1-2 months the project has a very good coin graphic but after that the coin does not have a good advantage and ends up being Dead/Scam.

I think scammer will be there, binance smart chain or other smart contract platform, ERC20, TRON and other.
I agree we must be careful to invest in new projects,, join  IDO ICO.
Not easy to detect scam projects, but it will need your experience and skill to analyse projects

[bayiajaib]

There are many steps like this in the cryptocurrency environment, so be careful !
We have to be careful with the various types of fraud that exist on IDO or ICO platforms that use the Binance Smart Chain blockchain.
I often see IDO platforms that use tokens from BSC, for projects 1-2 months the project has a very good coin graphic but after that the coin does not have a good advantage and ends up being Dead/Scam.

we should choose the projects that have good fundamental and good team behind the projects.
I know there are many scam projects that just collect  money nd being shut coins.
 be careful, we should do research before invest.

[IyemRoker]

The comparison with reality is like ZARA clothes being duplicated by various groups throughout the fashion world.
I also have a t-shirt from ZARA but it only costs around $10-20, which is very cheap compared to original ZARA brand t-shirts.
BSC (Binance Smart Chain) has many advantages, features and solidity which are then used by scammers to make a profit and the result is to create dead tokens etc.

[Tribalchief]

The problem is not BSC, the problem is the scammers as always. Any smart contract platform has scams, the thing is that creating a token on Binance Smart Chain is really cheap and can be done in no time. A while ago Ethereum was the star of scams with hundreds of projects launched, now BSC has taken over. We can't do anything to combat that, we can only look at where we invest and make the right decisions, and even being very careful, we can fall into a scam.

Exactly. The only way to avoid this scams is to be cautious of the kind of project we choose to invest our money. Sometimes, we can't easily detect a scam project, so it is always advisable to invest or risk what you can afford to lose.

[NikeFit_7777]

The BSC network is indeed a lot of tokens that end in scams because it is very easy to create new tokens at a very low cost, it will make it easier for many people to create trash tokens, therefore before investing in BSC it is better to study the project being developed so that when If you have a useful product, it will make the price increase.

I would add one more thing. Namely, that you should not add unfamiliar tokens to your wallets + you should not connect to unfamiliar sites. By going to an unfamiliar site, all your funds can be stolen. Therefore, projects on BSC should be treated with caution. It is better to be reinsured than to regret the loss of funds in the future.

[Mehedi72]

Not only binance chain, such thing might be happened by using arbitrum, matic or solana Blockchain true cause those are now available for cheap. Scammers were using ether network but due to increasing fees, they shift bsc network and now lots of scams are happening by using this Blockchain but what can anyone do? Early investors will always stuffer who want to have more money. Otherwise old potential altcoins are safe investment but many IDO platforms exist with success that use tokens from BSC