Scam Projects: How to Detect?

[Jaephoenix]

There is no sure fire way to find scam projects. But there are boxes, that  when ticked, can point one out to scam projects. For example, plagiarized whitepaper, not voices in explainer videos, dodgy websites etc

[Speaker]

I would never have thought that an altcoin like Terra-Luna could be destroyed. You never know which side the manipulator will come from, and therefore guessing a scam project is like a finger in the sky

[Freemind]

I would never have thought that an altcoin like Terra-Luna could be destroyed. You never know which side the manipulator will come from, and therefore guessing a scam project is like a finger in the sky

Luna-UST has been destroyed by the greed and arrogance of its own CEO, but the root cause is that UST is not a USD backed stablecoin. The algorithm had to mine millions of coins to support the volume of UST and that, among other things, has been the trigger for the collapse. The team's large Bitcoin reserves were supposed to help support the price, but so far, 52,000 Bitcoins have already "disappeared" and no one can find them. A police report was filed in Singapore against Do Kwon (Luna-UST CEO).

[DAMKAR]

There is no sure fire way to find scam projects. But there are boxes, that  when ticked, can point one out to scam projects. For example, plagiarized whitepaper, not voices in explainer videos, dodgy websites etc

We must be careful, I think It's difficult to detect scam projects.
As you said the will have plagiarized white paper etc.
So we should always follow their social media, to detect the clues.

[Octoalts]

~

We must be careful, I think It's difficult to detect scam projects.
As you said the will have plagiarized white paper etc.
So we should always follow their social media, to detect the clues.

There are projects that many people predict are scams but are not, and many projects that seem good but end up being scams. Actually this is difficult, but you are right to follow their social media it is very important to see the development of a Crypto project.

[elbans89]

~

We must be careful, I think It's difficult to detect scam projects.
As you said the will have plagiarized white paper etc.
So we should always follow their social media, to detect the clues.

There are projects that many people predict are scams but are not, and many projects that seem good but end up being scams. Actually this is difficult, but you are right to follow their social media it is very important to see the development of a Crypto project.

You're it's difficult  to detect scam projects.
But By seeing the team, white paper and always follow their social media accounts I think we can detect or find clue of the project.
But It will take several time.

[Speaker]

I have never considered Terra fraudulent, but still manipulators were able to pull off their dirty deeds...there were certain problems that many did not pay attention to in the hope of getting higher interest rates

[surendertakyaan70]

I don't think it can be identified so easily, it has to be seen very carefully. In spite of that gets one or two points for identification. by which you can find out. This is scam.

[smart_oa]

There is no sure fire way to find scam projects. But there are boxes, that  when ticked, can point one out to scam projects. For example, plagiarized whitepaper, not voices in explainer videos, dodgy websites etc

You first said that there is no way to find one and in the end, you mentioned the way! Isn't that strange? Investors always look for these things when investing in a new project. It is not very hard to find out a copy of a white paper and a project with fake team members. You just need to keep your eye open for these things.

[Freemind]

You first said that there is no way to find one and in the end, you mentioned the way! Isn't that strange? Investors always look for these things when investing in a new project. It is not very hard to find out a copy of a white paper and a project with fake team members. You just need to keep your eye open for these things.

It's true, apart from plagiarizing white papers, scammers also use a lot of photos from paid galleries to use as team members, that's another very useful way to spot scams, the tools that are available on the net make this job really easy and fast and if they are photos from galleries it would take a few minutes to find matches. Another way is to talk to team members about project technical issues on Discord or Telegram, most scammers are not very technically savvy.

[Ryu27]

If the new projects don't have any whitepaper, and team are not transparent or not visible, in these two I could say that there is a high chances the project is scam for sure in the end. So the bounty hunters must be sensitive and wise on this matter in terms of choosing the legit new project that arise in the cryptocurrency industry.

[Freemind]

If the new projects don't have any whitepaper, and team are not transparent or not visible, in these two I could say that there is a high chances the project is scam for sure in the end. So the bounty hunters must be sensitive and wise on this matter in terms of choosing the legit new project that arise in the cryptocurrency industry.

The fact that a project does not have a whitepaper (there are some memecoins that do not have whitepaper and the teams apologize saying that it is a community project) is a clear indication that the project is a scam or that the team has no idea how this industry works. I think the same with the team members, they should be visible with their names and links to their social networks, that way we can do a deeper search, so that we can rule out suspicions about the quality and veracity of the project.

[lepbagong]

I don't think it can be identified so easily, it has to be seen very carefully. In spite of that gets one or two points for identification. by which you can find out. This is scam.

there is always a loophole to cheat, that's the principle of those who want to profit from a new project being launched. for them how many know that the project being done is a scam is not a problem but for them being able to get a few to be exposed to the lies is an achievement in itself. because their goal is to be able to deceive and make profits from those who can be deceived, although in the end it will be known. so it's true that some people may not see carefully that this is a fraudulent project, but many do take a good look at it. so those who are deceived are usually those who are less attentive and not careful in paying attention to a project, it's natural because they always give the best possible appearance. So friends, you are right that it will not be easy to easily identify fraudulent projects in just a moment.

[Aryan0058]

Look out for red flags, including a lack of transparency and a new digital footprint. Listen to your intuition as well. A whitepaper is a huge indicator of a project's future success, as well as whether the developers have good intentions for potential investors.

[MUGNIA]

scam projects are actually difficult to detect in my opinion, before a transaction occurs, a scam project will occur if you have made a sale and purchase transaction, there are many examples before
as a start, see if it's a scam project or not, look at the profile of the team and the community whether they use bots or not