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Author Topic: Will scams and Rug pull ever stop  (Read 4549 times)

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Will scams and Rug pull ever stop
« on: June 10, 2021, 12:30:14 PM »
The answer is No. capital No. as long as the crypto market capitalization keeps increasing, more scams and rug pull will continue o happen. as long as the system is decentralized with no central governance, New projects will start up and disappear if there is no funds. Many has lose their source of income in crypto.
My advice: stick to the already developed projects.  and avoid these recent new projects with no solid foundation and funds. Most will fail.
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Will scams and Rug pull ever stop
« on: June 10, 2021, 12:30:14 PM »

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Re: Will scams and Rug pull ever stop
« Reply #1 on: June 10, 2021, 01:27:48 PM »
There are a lot of scammers in the cryptocurrency field and you always need to be very careful, you can also create a cryptocurrency project in a matter of hours and start selling tokens of this project almost instantly, and therefore people constantly create scam projects in which investors invest a lot of money and then these investors are left without money and most importantly, almost no one fights against these scammers.
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Re: Will scams and Rug pull ever stop
« Reply #2 on: June 10, 2021, 02:12:14 PM »
The answer is No. capital No. as long as the crypto market capitalization keeps increasing, more scams and rug pull will continue o happen. as long as the system is decentralized with no central governance, New projects will start up and disappear if there is no funds. Many has lose their source of income in crypto.
My advice: stick to the already developed projects.  and avoid these recent new projects with no solid foundation and funds. Most will fail.

In some aspect, I believe you have a point, But just remember crypto industry is partly speculative, meaning it was partly driven with speculation, and most of the time investors are always doing that even in the established projects the risk is always there, but it's minimal compared to the newly created projects, let me say my point if you are a risk-taker then investing in a new project is good for you just picked only the potential one.

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Re: Will scams and Rug pull ever stop
« Reply #3 on: June 10, 2021, 02:27:55 PM »
Yes for sure scams will never become 0. In every section of our life it is very normal to find scammers. Scam,mers can be found in almost every sector rlated to money somehow. Crypto is also not different from it. But as crypto ios an emerging industry and you can be anonymous and mostly people are very greedy here there is a very high number of scams going on so be careful.
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Re: Will scams and Rug pull ever stop
« Reply #4 on: June 10, 2021, 03:45:02 PM »
The answer is No. capital No. as long as the crypto market capitalization keeps increasing, more scams and rug pull will continue o happen. as long as the system is decentralized with no central governance, New projects will start up and disappear if there is no funds. Many has lose their source of income in crypto.
My advice: stick to the already developed projects.  and avoid these recent new projects with no solid foundation and funds. Most will fail.

No,  scams and rugpull will never stop.
We will see them at every investment.
We must be careful to choose the projects and coins.
If they have good team, I think we will never scams.
They will be success.
Learning their projects, team, read the White paper, road map and always follow their social media.
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Offline Malam90

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Re: Will scams and Rug pull ever stop
« Reply #5 on: June 10, 2021, 04:35:00 PM »
The answer is No. capital No. as long as the crypto market capitalization keeps increasing, more scams and rug pull will continue o happen. as long as the system is decentralized with no central governance, New projects will start up and disappear if there is no funds. Many has lose their source of income in crypto.
My advice: stick to the already developed projects.  and avoid these recent new projects with no solid foundation and funds. Most will fail.

There are a lot of new BSC projects that Rug Pulled recently, i was one of the victim investing there. Investors invest in new project for more profits than old and established project but recently rug pull incident are dramatically increasing. This is alarming. We have to be more cautious before selecting new projects.

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Re: Will scams and Rug pull ever stop
« Reply #6 on: June 10, 2021, 04:58:41 PM »

My advice: stick to the already developed projects.  and avoid these recent new projects with no solid foundation and funds. Most will fail.

But how do some here in the forum get rich overnight if they wouldn't buy cheap junk?

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Re: Will scams and Rug pull ever stop
« Reply #6 on: June 10, 2021, 04:58:41 PM »


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Re: Will scams and Rug pull ever stop
« Reply #7 on: June 10, 2021, 07:11:10 PM »
Yeah, I support your opinion. Many new investors suffer from FOMO and invest in new and well-known projects like SHIB, like LINA or TLM, while not fully understanding the technology and position of the token price. They often buy when the price is already high and sell when the price has decreased, they will feed the market.
I always recommend looking for top altcoins like ETH, BNB, LTC, BCH, EOS, MIOTA, XRP, XLM, XMR… but they say top coins will grow slowly. They want to find projects with token price x10 within a week ^^

Offline pealr12

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Re: Will scams and Rug pull ever stop
« Reply #8 on: June 10, 2021, 08:31:31 PM »
Scam and rug pull are as a result of  greed and ad long as greed still exist in people this terrible act will never stop,  we have many blockchain project in the market but only few are genuine,  the rest were created to scam, rug pull and disappear, they have no goal and explanation except cheat people and run away.

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Re: Will scams and Rug pull ever stop
« Reply #9 on: June 10, 2021, 11:28:56 PM »
The answer is No. capital No. as long as the crypto market capitalization keeps increasing, more scams and rug pull will continue o happen. as long as the system is decentralized with no central governance, New projects will start up and disappear if there is no funds. Many has lose their source of income in crypto.
My advice: stick to the already developed projects.  and avoid these recent new projects with no solid foundation and funds. Most will fail.

Agreed. Every market, even highly regulated ones, has scams. So, barely regulated crypto space will continue to witness scams and rug pulls in the future too. But I believe the number of them will decrease with regulations and conscious investors.

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Re: Will scams and Rug pull ever stop
« Reply #10 on: June 11, 2021, 12:55:57 AM »
The crypto market is so potential and attracts many investors, and of course it becomes the target of scammers. Inexperienced new investors easily believe that a certain token will become famous and bring them huge profits, so they often buy trending low-cap coins or meme-coins.
In the past few months, there are dozens of new projects born on BSC and most of them are scams: meme-coins (dog, goat, cat, fish…), DeFi, media… The scary thing is that they have huge bounty bounty and airdrop campaigns to promote project and appropriate investors' assets.
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Offline Thaer90

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Re: Will scams and Rug pull ever stop
« Reply #11 on: June 11, 2021, 02:09:31 AM »
Hello my friend , I can agree with you on that , as long as Cryptocurrenies world brings a great profit scams and rug bull will never stop , also there is many people who join this world every day so it's going to be easy to scam them and steal Thier money , in my opinion we should always be careful of scammers because they so smart and their offers very attempting .

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Re: Will scams and Rug pull ever stop
« Reply #12 on: June 11, 2021, 04:26:19 AM »
Its human behavior. Once there is an unregulated burgeoning niche, all kinds of criminal activities would develop

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Re: Will scams and Rug pull ever stop
« Reply #13 on: June 11, 2021, 06:30:11 AM »
Fraud is and always will be where public relations are associated with any financial issue. Cryptocurrency is a fraudulent paradise due to the fact that it has a high level of anonymity and confidentiality, as well as decentralized. The fact that it exists on the Internet also contributes to the development of fraud in cryptocurrency and therefore a fraudster can be located in any state and anywhere in our planet and this greatly complicates the work of law enforcement agencies. Therefore, cryptocurrency fraud, in my opinion, will only grow and increase in volume over time.

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Re: Will scams and Rug pull ever stop
« Reply #14 on: June 11, 2021, 06:55:10 AM »
I think Cryptocurrency is a free market where everything called project comes in and goes out that alone can be the reason there's going to be more increase in scam project and rug pull for now I don't think there's going to be a stop in cryptocurrency fraud since there's no regulatory body regulating the Cryptocurrency system. in my opinion concerning scam project is that everybody should be aware of new Cryptocurrency project.
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