The More Famous, The More Scammers in BSC !!

[ajiz138]

Crypto users need to be careful of fake wallets and phishing attempts. Phishing can occur through fake websites or fake messages that try to obtain a user's personal information or private keys.

There are many scams and Ponzi schemes in the crypto world that promise huge profits but actually aim to steal funds from investors. These could be fake projects, fake ICOs (Initial Coin Offerings), or fake investment schemes.

Unsecured or under-secured crypto exchanges can become targets for security attacks. Traders should choose a trustworthy exchange and understand the security measures implemented by the exchange.

Now there are a lot of fake wallets and phishing sites everywhere, you just have to be careful and pay attention to them now more often than not, where there are phishing sites that resemble certain airdrop distributions, if you connect your wallet to the site then it will be a trap for them.

If someone falls into a Ponzi scheme trap then he is a beginner who doesn't know what's normal, but if he has been in crypto for a long time and gets caught in a Ponzi scheme then he may be unaware or greedy with his profits.

Crypto exchange? I think they have strict security only we choose highly reputable exchanges.

[Uruhara]

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.

This topic was created last year. But what the OP said is still relevant today. There are lots of tokens created on the BSC network which are only created to cheat. Many of these tokens were created to be pumped and then when people hyped the coins, a big dump immediately occurred. Some are because the project team sells directly in large quantities which drains liquidity and there are also those who withdraw liquidity itself. And there are also tokens that can only be bought but not sold which are called Honeypot scams.

Honeypots in crypto don't require much skill. Because it is very simple to modify the smart address token itself so that it can only be bought and not sold. And many people are deceived by this project. We can see that the amount of honeypot token liquidity continues to grow. Most fraudsters create strategies through pump groups or other means to attract the community.

[KryptoBull]

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.

This is what I look forward to reading on our forum!

BNB chain provides an efficient and friendly platform for teams to deploy Dapps, BNB chain does not manage and does not guarantee the nature and reputation of each Dapps. Anyone can create new tokens on the BNB chain, and bad actors do it too.

I believe that IEO is good because the project will be thoroughly checked by CEX, while IDO contains many risks because everything is decided by votes from Launchpad token's holders, and sometimes the majority is not capable of analyzing the project correctly, they allow fraudulent projects to conduct IDO and steal investors' money.

Low transaction fees on the BNB chain make it easy for investors to interact and invest in projects on the BNB chain. Be cautious of FOMO and new projects! Analyze and use money appropriately. If you can't find a project that is good and reliable enough, investing in BNB tokens is not a bad choice 

[NikeFit_7777]

Now there are a lot of fake wallets and phishing sites everywhere, you just have to be careful and pay attention to them now more often than not, where there are phishing sites that resemble certain airdrop distributions, if you connect your wallet to the site then it will be a trap for them.

If someone falls into a Ponzi scheme trap then he is a beginner who doesn't know what's normal, but if he has been in crypto for a long time and gets caught in a Ponzi scheme then he may be unaware or greedy with his profits.

Crypto exchange? I think they have strict security only we choose highly reputable exchanges.

Another problem is that they forge coin contracts. You can not have time to send tokens in the BSC network - as immediately, comes a fraudulent copy. I think everyone's had this happen to them. Alas, before we can even send our money, we are immediately exposed to danger. Imho, this is a really global problem on this network that hasn't been solved yet. But I'd like to, things happen, you can get confused and get into trouble.

P.S. Overall, BSC is a great network for the average user, but there are a bunch of minimal problems (where the cheaters) feel pretty good about themselves. And this should not be the case. If CZ (and his team) will listen to us and solve these problems. That would be nice. 

[Freemind]

This is what I look forward to reading on our forum!

BNB chain provides an efficient and friendly platform for teams to deploy Dapps, BNB chain does not manage and does not guarantee the nature and reputation of each Dapps. Anyone can create new tokens on the BNB chain, and bad actors do it too.

I believe that IEO is good because the project will be thoroughly checked by CEX, while IDO contains many risks because everything is decided by votes from Launchpad token's holders, and sometimes the majority is not capable of analyzing the project correctly, they allow fraudulent projects to conduct IDO and steal investors' money.

Low transaction fees on the BNB chain make it easy for investors to interact and invest in projects on the BNB chain. Be cautious of FOMO and new projects! Analyze and use money appropriately. If you can't find a project that is good and reliable enough, investing in BNB tokens is not a bad choice 

The simplicity and speed with which a smart contract can be created on Binance Smart Chain (and other smart contract platforms) is a very good thing for the industry, teams and users in general, but at the same time it is the worst because of the ease with which scams can be created in minutes without technical programming knowledge. But as I said in the post you quote, the smart contract platform is not the problem, the problem is who uses it for bad purposes. Our only possible defense is to remain alert at all times.

[EthereumDev_]

The simplicity and speed with which a smart contract can be created on Binance Smart Chain (and other smart contract platforms) is a very good thing for the industry, teams and users in general, but at the same time it is the worst because of the ease with which scams can be created in minutes without technical programming knowledge. But as I said in the post you quote, the smart contract platform is not the problem, the problem is who uses it for bad purposes. Our only possible defense is to remain alert at all times.

The intelligence possessed by Binance Smart Chain technology is indeed superior to Ethereum technology, but you need to know that there are still new projects developing and trying to beat Binance Smart Chain, this Binance Platform must always provide good developments and provide lots of profits for its supporters so that it continues has high demand.

[legend45]

The intelligence possessed by Binance Smart Chain technology is indeed superior to Ethereum technology, but you need to know that there are still new projects developing and trying to beat Binance Smart Chain, this Binance Platform must always provide good developments and provide lots of profits for its supporters so that it continues has high demand.

If BNB team don't improve their projects, I think the competitor will beat BNB.
I see many good project  Solana, Polkadot,  LINK  and TRON always being top coins.
It's very interesting to see this competition at the future.
Who will win ? Let's see

[damsix]

If BNB team don't improve their projects, I think the competitor will beat BNB.
I see many good project  Solana, Polkadot,  LINK  and TRON always being top coins.
It's very interesting to see this competition at the future.
Who will win ? Let's see

And BNB is a centralized coin, so at any time CZ can manipulate all the prices of BNB, this could be very dangerous for BNB holders.
But if CZ acts up and manipulates prices at any time then the punishment will definitely be an immediate drop from the SEC and maybe the competitors you mentioned will also beat BNB.

Currently BNB is still the best under Ethereum in terms of token creation because there are so many tokens circulating on the Binance Smart Chain blockchain.
Last week Solana also overtook the marketcap of BNB and perhaps if BNB was manipulated by CZ then the first to rise would be the Solana coin.

[NikeFit_7777]

quote author=EthereumDev_ link=topic=259390.msg1492335#msg1492335 date=1707368780]
The intelligence possessed by Binance Smart Chain technology is indeed superior to Ethereum technology, but you need to know that there are still new projects developing and trying to beat Binance Smart Chain, this Binance Platform must always provide good developments and provide lots of profits for its supporters so that it continues has high demand.
[/quote]
I think a little differently in this regard. A big role in popularizing the BSC, was the personality of CZ. If it wasn't for him, few people would have known anything about the network at all. There are (quite a lot of) projects with similarly small commissions and so on, but in fact who needs them? + CZ in this case (like Ilon Max), 1 post on social media course bnb flies away instantly. Or CZ goes to jail for manipulation = rate collapses to zero. As luck would have it. Alas/or fortunately any investment in cryptocurrency is high risk.

Found an interesting statistic: "BNB users' funds decreased, to 31.83 million, down 0.51% to 162,116 BNB."

[EthereumDev_]

And BNB is a centralized coin, so at any time CZ can manipulate all the prices of BNB, this could be very dangerous for BNB holders.
But if CZ acts up and manipulates prices at any time then the punishment will definitely be an immediate drop from the SEC and maybe the competitors you mentioned will also beat BNB.

Currently BNB is still the best under Ethereum in terms of token creation because there are so many tokens circulating on the Binance Smart Chain blockchain.
Last week Solana also overtook the marketcap of BNB and perhaps if BNB was manipulated by CZ then the first to rise would be the Solana coin.

So far, even though you say that BNB is a centralized coin, there are still several exchange sites that can be used to erase traces of cryptocurrency transactions. Whatever form of coin network is used, everything can be done. In cases like that, if CZ does it well and correctly, then no one realizes that he has done it.

[damsix]

And BNB is a centralized coin, so at any time CZ can manipulate all the prices of BNB, this could be very dangerous for BNB holders.
But if CZ acts up and manipulates prices at any time then the punishment will definitely be an immediate drop from the SEC and maybe the competitors you mentioned will also beat BNB.

So far, even though you say that BNB is a centralized coin, there are still several exchange sites that can be used to erase traces of cryptocurrency transactions. Whatever form of coin network is used, everything can be done. In cases like that, if CZ does it well and correctly, then no one realizes that he has done it.

Well, you must also understand that the BNB coin is centralized and owned by CZ on the Binance Exchange, but there is something more important about CZ's problem, namely that the Binance server is in America.
If Binance Exchange did not have a server in America, it would definitely not be subject to SEC regulation or monitoring.

If you also know, the Bitcointalk forum is on the American server so it has been affected by various marketing projects for the Bitcoin Mixer on Bitcointalk being closed, the problem is that the Bitcointalk server is in America.

Let's compare it again with Huobi, or the local market in my country, namely INDODAX, which will definitely not be subject to an audit from the SEC because the server is not in America. Cmiiw

[Google+]

Well, you must also understand that the BNB coin is centralized and owned by CZ on the Binance Exchange, but there is something more important about CZ's problem, namely that the Binance server is in America.
If Binance Exchange did not have a server in America, it would definitely not be subject to SEC regulation or monitoring.

If you also know, the Bitcointalk forum is on the American server so it has been affected by various marketing projects for the Bitcoin Mixer on Bitcointalk being closed, the problem is that the Bitcointalk server is in America.

Let's compare it again with Huobi, or the local market in my country, namely INDODAX, which will definitely not be subject to an audit from the SEC because the server is not in America. Cmiiw

Yes, I know that if everything is problematic due to the condition of the servers in America, then this will be a very important problem because, in my opinion, several large servers are not only in America. When talking about such large amounts of data, it is only stored on one server, so that would be a very high risk.I'm sure Binance still has several server points spread out, and if only America is giving Binance problems, then I would prefer to move the Binance Databook out of the American server and terminate all contracts that use servers in the American region, even though it is difficult to do but at least can be done in several stages.

[Gurujebs]

And BNB is a centralized coin, so at any time CZ can manipulate all the prices of BNB, this could be very dangerous for BNB holders.
But if CZ acts up and manipulates prices at any time then the punishment will definitely be an immediate drop from the SEC and maybe the competitors you mentioned will also beat BNB.

Currently BNB is still the best under Ethereum in terms of token creation because there are so many tokens circulating on the Binance Smart Chain blockchain.
Last week Solana also overtook the marketcap of BNB and perhaps if BNB was manipulated by CZ then the first to rise would be the Solana coin.

CZ has influence and that is what has helped him in the crypto community, he has gained a lot trusts to the extent that his tweets alone can move coin by 1000%, so if he want to manipulate n BNB coin, it is not going to be for it to go down but up, and he wouldn't do much, just some positive words about the coin and not say much and you will see the price up somewhere trending.

If only he is not in cell, by now crypto will be bullish than this because with him been by the side of Bitcoin, people and many investors don't have fears but now even with the coming halving, some people are scared to invest because of market dumping later.

[Aanuoluwatofunmi]

The intelligence possessed by Binance Smart Chain technology is indeed superior to Ethereum technology, but you need to know that there are still new projects developing and trying to beat Binance Smart Chain, this Binance Platform must always provide good developments and provide lots of profits for its supporters so that it continues has high demand.

If BNB team don't improve their projects, I think the competitor will beat BNB.
I see many good project  Solana, Polkadot,  LINK  and TRON always being top coins.
It's very interesting to see this competition at the future.
Who will win ? Let's see

The only advantage BNB is having was the unique backup from the Binance exchange, so virtually by the way the exchange make money from their users will also help along way in maintaining their stand, we can also considers the popularity of the exchange with its global relevance, there are many coins that could be of more value as BNB and many more other cryptocurrencies that if care is not taken, they will perform more than BNB.

[IvugeoEvolutionCoin]

The only advantage BNB is having was the unique backup from the Binance exchange, so virtually by the way the exchange make money from their users will also help along way in maintaining their stand, we can also considers the popularity of the exchange with its global relevance, there are many coins that could be of more value as BNB and many more other cryptocurrencies that if care is not taken, they will perform more than BNB.

I really like people who understand the schemes that the Binance exchange has and the business methods carried out by Binance. As long as the Binance exchange still has a very big influence, the price of BNB will remain stable and indirectly Binance has an important role in moving the price BNB.