Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Delgboke on January 25, 2021, 10:14:36 AM
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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?
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Definitely, don't participate is the solution to stop becoming scam victim. It will be hard to detect scam project unless it is obvious.
Some project wants to succeed but because of market volatility and low trust from community. The project turn into scam.
Self awareness and be careful of what everyone's doing is good shield though.
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Currently, with the increasing number of existing projects, it does provide opportunities for scammers to develop. And it is happening now and it is real.
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So many newbies are coming into the community and airdrops and new coins are big attractions because they all want to be the early birds just like what happened to Bitcoin and Ethereum, and because of this many scammers are creating new coins as airdrop and eventually scamming investors.
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I think because more and more people join crypto, the more bad people will act to cheat by becoming scammers. And this is definitely the case in crypto.
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In this cryptocurrency there is a great potential to get money easily by creating fake projects, and the target of these scamers is beginners.
Therefore we have to be very careful here, especially investors in investing your money. Don't be sorry for losing money needlessly on a fake project.
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Because so many crypto projects have sprung up, the percentage of projects that are scam is also increasing. And more and more project actors, both participants and developers.
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For many people, everything related to cryptology is completely new knowledge. Immediately faced with many incomprehensible things, people are lost. And when a person is at a loss, it is very easy to mislead him. And scammers use this with success. And now a lot of people have come to cryptography. Accordingly, scammers have become much more active.
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The rise in scams is unfortunately normal. Where there is wealth (money, gold, diamonds) there will always be many people interested in deceiving others. With cryptocurrencies it was not going to be different, to that we have to add the new Bitcoin ATH that we saw a few weeks ago. The more people in the world are interested in cryptocurrencies, the more scammers there will be, it's a matter of statistics.
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It is very simple to analyze a scam project. Usually the website templates they use are very common and can be purchased on envato. Second, their whitepaper is mostly copy-paste. Third, usually the return or profit they offer doesn't make sense. We must be able to identify these scam projects, so that we can avoid their scams.
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I'm afraid there is nothing we can do about it. It is their choice to be that kind of person and it will always be there throughout the centuries as long as there is a progress where money is always involve.
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It's really unfortunate and it baffles me alot, the fact that there really not much we can do about this thing is another nightmare, coupled with the fact that crypto currencies are unregulated asset class. So I think the best way to not be scammed by this fake projects is to avoid them totally once you find out they are fake, if watched closely, you discover that most of this fake projects launch with an anonymous team or team with fake profiles, all things are clues to deciding whether a project is real or fake.
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Individually, there is nothing we can erally do to stop scammers and hackers to wreak havoc in the cryptocurrency industry. But we can at least help by never ever participating in those scams, that way the source of support and money can stop flowing to these evil people. The big reason why we have so many scams and frauds is that there are still people they can victimize. We need to educate people to never be entice to be on the sides of these scammers. I am not blaming the victims, though.
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Individually, there is nothing we can erally do to stop scammers and hackers to wreak havoc in the cryptocurrency industry. But we can at least help by never ever participating in those scams, that way the source of support and money can stop flowing to these evil people. The big reason why we have so many scams and frauds is that there are still people they can victimize. We need to educate people to never be entice to be on the sides of these scammers. I am not blaming the victims, though.
Undoubtedly, we have a lot of people on the forum who have more experience and knowledge, who can easily determine the quality of the project, whether it is fraud or not. And only if we discuss together any possible fears regarding this or that project, there will be more information for users and for example, no Bounty Hunter will support a fraudulent project.
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Yes, I agree with you there are more scammers in cryptocurrency every day. This is especially true in bounty campaigns and airdrops. Unfortunately, nothing can be done about this, because no one forces the user to enter them by force.
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Unfortunately, nothing, because there is no legislative base or body that would monitor the cleanliness of the project, you just need to be careful, and choose the project you participate in selectively, it comes with experience.
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To be honest, all these scams keep popping up and market is fed up such criminals but unfortunately there is no way to stop such people because of the anonymous and decentralized nature of most of the projects, these guys are damaging the reputation of the market for their personal gains.
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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?
Mate, I think the issue of crypto scam or the reasons why there are increase in scam activities related to cryptocurrecy is no longer a big news. In the year 2017 to 2018, during the ICO days, we had this situations but crypto development ijss been going stronger by the day.
Now, there is DEFI boom, just similar to the era of ICOs. unfortunately the situation has surfaced again. As a matter of fact, the major reason why there are increase crypto scam activities of any form (eg scam Defi projects) is basically due to the fact that Defi is booming and there is currently a huge crypto adoption on the daily basis. Thanks
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Where there are a lot of money & normal investors, there are scams :)
Fraud projects in the crypto sector that sprung up in 2017 are mainly related to the Lending market initiated by Bitconnect. Then came the scam ICOs as crowdfunding through an ICO was easy and without legal prosecution.
In 2020, the DeFi wave swept away the crypto winter, many investors poured money into projects with high APY, immediately DeFi became the target of new scam projects.
In addition, ponzi projects take advantage of human greed & ignorance, they are constantly appearing to suck blood from investors :(
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Crypto scam is something very usual in this crypto world. Moreover about the scam itself has been a long-time ago dread. But not al crypto project scam is available to enter the home itself. And I think that it will not end. But we can avoid it by doing a deeper aphievene
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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 you see so many fake airdrops or fake crypto projects everywhere is because scammers need money, and they can't get it without creating all those scam projects in order to extort money from investors who eventually invest in their scam projects, and there's no way we can stop this from happening, there will always be scam projects, that's why it's important to DYOR before investing.
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Yes you are right there are many kind of scams in crypto industry. The main reason is that when any market is growing and achieving their milestone then lots of people want to scam with other and find different ways to scam. In last i can only say its a part of industry.
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Unfortunately, nothing, because there is no legislative base or body that would monitor the cleanliness of the project, you just need to be careful, and choose the project you participate in selectively, it comes with experience.
If the project is a fraud, then you do not need a legislative framework. Only investors who have invested money will be enough. Another question is that the scammers do not have photos of their own. They take other people's photos and some people believe it.
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Making scam coins will not stop because I'm sure it's profitable for them to make a scam coin or fake project. That is why we have many scam coins in the market. If there is no more people to buy their coin they will abandon it and make another a new one. We need to research first before to buy the coin, that's the only way to prevent scam coins.
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Trend is having a linear relationship with scam, if you observe the market cryptically from 2017, scam has been existing in different forms though it has reduce compare to now. It has even become a norm now that even developers carry Defi and hide anonymously to steal money from people.
We hope privacy get eradicate from crypto space for safety of everyone.
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If it possible to escrow then I think no projects scams . Before launching any projects, should be escrowed and certified by any global agencies (Cryptocurrency ageing) , team management video conferencing and certified by ico bench.
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Scammers are every where even in airdrop or bounties. There are people in the world who have heart but no feeling of conscience to what they did wrong. It is awful to scam other. I hope someday this kind of evil doing will stop to have safe place in crypto investment.
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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?
TBH, we can just spread awareness about those fake/scam coins and let others know how to spot those. Even we spot any fake/scam coins, greedy users will be there to get profits as some of those become successful and others get rekt because of rugged pull.
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Unfortunately, it is, the more cryptocurrency becomes more popular, the more scam cryptocurrency projects appear and nothing can be done about it, of course there are some organizations that are trying to fight with scam cryptocurrency projects, but unfortunately there are very few such organizations and they do not have time to check every cryptocurrency project.
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There have been lots of cryptocurrency scam project you just have to avoid them not to become a scam victim, I think the main reason behind the scam project is that must people are just trying to make money true cryptocurrency and they think developing scam project is the best way. Before doing any airdrop or bounty always make sure that you do your research first before joining it to avoid being scammed and also to avoid spreading scam project
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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 you see so many fake airdrops or fake crypto projects everywhere is because scammers need money, and they can't get it without creating all those scam projects in order to extort money from investors who eventually invest in their scam projects, and there's no way we can stop this from happening, there will always be scam projects, that's why it's important to DYOR before investing.
You've said it all, there will always be scam projects since scammers always need money, it's never going to stop and the worst part is this scammers keep evolving, last year during DeFi hype they created alot of scam DeFi projects and ran away with investors money, there's no way we can stop this now, scammers are here to stay sadly.
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Unfortunately, it is, the more cryptocurrency becomes more popular, the more scam cryptocurrency projects appear and nothing can be done about it, of course there are some organizations that are trying to fight with scam cryptocurrency projects, but unfortunately there are very few such organizations and they do not have time to check every cryptocurrency project.
They do not have enough time or they cannot handle the huge projects floating and coming in cryptocurrency place. Even some project looks interesting and legit, the ending will define how potential the token is. The more cryptocurrency the more we must cautious.
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Where there is a crowd there must be money.
Cryptocurrency is now booming and crowded, so it means that there are definitely lots of fake projects that will emerge.
To put it simply, maybe scammers like Hackers and Scammers will continue to exist until cryptocurrency ends or they will even continue to look for that money in cunning ways in various media.
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I think the investor shoulders the responsibility to not get scammed out of their hard-earned money. Non-existent teams, extravagant profit projections, and unclear business models should be closely scrutinized before making any investment.
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Things like this happen because crypto is starting to be valued as potential. Then many will glance at it, so many make traps to make a profit.
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in my opinion it can be stopped if the user is no longer there or there are no enthusiasts if there are still many enthusiasts it might be difficult to stop maybe people's opinions differ but that is in my personal opinion
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We all know that every project launches its project for one purpose that for profits. So if they already take profits now it's time to shutdown or continues.. This is hard to know which will the team of project choose.
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Every project comes on the market they are just for profit. But whether a project will be a scam or not depends on the team in that project. All our investors should refrain from such scam projects. However, there is no way to understand such scam projects in advance. That these will not be good will be a scam.
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that thing started two years ago when the big bull market happened and many altcoins rose up massively so scam project start showing and the only reason for that is to steal people's money, I don't advise anyone to invest in a project or a currency without doing deep research about it.
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Nothing will stop a scam project. Because as long as I know crypto from 2014, no one has been able to filter out good projects or projects that are scam.
Talking about airdrops, from last year there were indeed many scam airdrops. Except for the bounty.
If we talk about bounties, I see a different year from 2018. Because not too many new bounty projects emerged when bitcoin went up very high in price, but they still paid and weren't a scam.
Unlike 2018 when bitcoin rose to $ 20k many new bounty projects emerged but 99% scam
I thought, if you don't want to do futile work, then don't go in the airdrop. Better to work on the bounty
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There are a lot of scam projects now, but there will be even more of them, because people have a huge demand for cryptocurrencies. It is very difficult to distinguish a scam project and people lose their money.
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Fake projects or even scammers will never end. This is like the bad thing and good thing in this world will be always here. We can stop everybody in the world to do all good things. They may also do scamming and we do not know who they are. However, we can try to minimize being scammed by doing more research and not FOMO
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There will be always fake crypto projects, we must be more careful when we want to join a crypto project. I think each of us already knows the signs of fake crypto projects. Just don't join if there is something wrong with the project.
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Actually, scammers in the crypto world are like the scammers in the real world. they are always flowing and existing to get profits from the greedy people, careless people, and also from anyone that is trapped with scam projects.
Actually, we cannot stop the scam. They are always here with their new ways of scamming or even the old. However, what makes us sad is there are many newcomers in the crypto world that are trapped with the same scheme of scam. Just be careful beaus they are still around us.
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I think that because there are still chances for scammers to do that. many greedy people are always attracted in big profits without analysing whether the projects are legit or not. They may be also trapped in high profits to offer but they are scammers
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It seems that this cannot be avoided, because there are no strong rules in this Cryptocurrency. Everyone is free to create new Crypto projects, and there is no permit because Cryptocurrency cannot be regulated by legal entities. We have to be careful not to fall into their trap.
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Yes. There is nothing we can do to stop such kind of actions in crypto space. The only thing we can do is to avoid it as much as possible by researching all the information of a project you want to be part of.
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Crypto market is based on the digital era technology, ANd with this, we don't know the exact team is real people or fake account that seems to be such identity. IN this case, the chance to scam people is much higher if it is by only. That is why we must be careful. I always say that never only follow the Fomo or invest in the very legit investment with big rewards because it is risky and also strange
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I think the fake projects didn't increase much again. The Defi era isn't very hype nowadays and people already know the signs of fake projects, they are getting smarter and more selective. So, we don't be worry about the increase of fake projects anymore. However, we must be careful if we want to jon new projects.
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If the world does not have bad guys the scam issues will instantly end. As long as there are bad people in the world the scam project will always in crypto. Scammers goal is to steal the money of others. They are the group of people who wants to become rich in quickly way. Not good.
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DeFi project situation led to many new projects being built on the ethereum network, maybe we see the project fail and do not get support from investors, then the developers leave the project.
I haven't seen fake projects in 2021, hopefully fake projects will continue to decrease, because there are many new investors who are interested in cryptocurrency projects
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It seems that this cannot be avoided, because there are no strong rules in this Cryptocurrency. Everyone is free to create new Crypto projects, and there is no permit because Cryptocurrency cannot be regulated by legal entities. We have to be careful not to fall into their trap.
Very well said. Anyone can start a crypto project. Although, making it succed, is not a task for anyone. That's why there we see many failures.
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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?
It is because simply, the numbers of gullible people who are lack knowledge and skills about cryptocurrency are also increasing in numbers to become one of the victims of the scammers. This might be one of the reasons why also the scammers have the guts to scam others.
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DeFi project situation led to many new projects being built on the ethereum network, maybe we see the project fail and do not get support from investors, then the developers leave the project.
I haven't seen fake projects in 2021, hopefully fake projects will continue to decrease, because there are many new investors who are interested in cryptocurrency projects
I agree with you, the DeFi project is an important reason for crypto development in 2021, and it's impacting ethereum.
But who knows the future, a legit project today may not be legit in a few years, staying alert and following the progress of the project is a good decision. And when you see a project that hasn't progressed for a few months you can leave it.
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Unfortunately, this will always be the case, scam projects are growing like mushrooms. You can only by analyzing not enter these scam projects and not waste your time, and also if you understand that this is a scam, it is better to tell everyone about it so that the rest are not included in it.
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Not only scam projects are coming in crypto, but also have lot of good projects. Scam projects are very difficult to detect at first but later on it can be identified. However, everyone should be more aware of this. If the participants are careful, they will not be able to survive.
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It seems that this cannot be avoided, because there are no strong rules in this Cryptocurrency. Everyone is free to create new Crypto projects, and there is no permit because Cryptocurrency cannot be regulated by legal entities. We have to be careful not to fall into their trap.
In my opinion, this could be avoided, if only we (the crypto community) had a platform where we could submit and review crypto projects circulating in the market. I know crypto developers have developed platforms like this several times, but most of them are centralized platforms, what we need is a decentralized platform, where crypto-enthusiasts can join in and give their assessment of ICO / IEO projects or similar platforms.
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is it that nothing can be done to stop scam coins?
Be more careful in choosing a project, try to analyze it in detail especially when you find a project that gives a bonus that doesn't make sense. It can be said that lately there have been more new projects that have resulted in scams, thus making the crypto's image vulnerable to becoming worse.
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because many scams want to get a lot of cryptocurrency in an instant way and they think that the cryptocurrency project they created can give money quickly and will not deal with prison and roam free.
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Where there is a lot of money, there will always be those who want to make money on it by deceiving and misleading with empty promises and fake predictions. In my opinion, about 40% of all new projects are those that are created to raise funds, the more they have time for the time being they will not be figured out all the better for them. But unfortunately not only investors who invest their money suffer from them, but also bounty hunters who lose their work. And they are becoming smarter and smarter in ways of deception and disguise as real projects with an open team ...
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There are always some fake projects in the market. However, not all new projects are fake. At present, with the increase in the popularity of new cryptocurrencies, a good situation has been created in the market. The popularity of new projects is constantly increasing. But one should be careful before investing in new projects. Most of the new projects are now much more successful flowers.
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Fake projects in crypto are increasing because crypto is starting to be considered a good thing, so that more people are interested in joining, and more and more people are taking advantage of the situation to fake projects.
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The rate of fake coins increases on a daily basis, scammers creates some coins that will just stay for a month and depreciate after much people have bought that certain coin. This days I stay far from airdrops the only way to be safe is to stop jumping into newly coins you're not sure is legit.
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I think this is happening because more and more people want to knock each other out in crypto. because indeed there are more and more crypto users. So that this is seen as an opportunity by irresponsible parties by making fake projects.
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I think this is happening because more and more people want to knock each other out in crypto. because indeed there are more and more crypto users. So that this is seen as an opportunity by irresponsible parties by making fake projects.
You must change your thinking mate towards your fellows in crypto place. We are not knocking each other out in crypto. We are working in crytpo alone, it means everyone is responsible to what he/she is doing. Crypto specially scam knocking the impatience and the weak ones. Be strong and always be cautious of what you are dealing with.
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The rate of fake coins increases on a daily basis, scammers creates some coins that will just stay for a month and depreciate after much people have bought that certain coin. This days I stay far from airdrops the only way to be safe is to stop jumping into newly coins you're not sure is legit.
Do you have a list of these fake coins, I think it is impossible for fake coins to be made every day, in 2017 when a lot of fake ICOs were very worrying, but at the moment, some of the new tokens have a good exchange and many developers are giving their ideas in. DeFi to benefit from the farming and staking systems they offer
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Well, why not, you can. Only many will not like this. The state is trying to do this by applying regulatory mechanisms, and in the future, criminal punishment for fraud. Only this is difficult and difficult, and that is why I think the growth of scam projects will continue.
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It is always a common thing when the market is busy for scammers to sneak in trying defraud genuine investors. It is always good to be careful at the point not to fall into scammers hand.
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There will be a lot of scams and we can't do anything because there are no regulations governing this in the crypto space, as long as there are open blockchains like ethereum, binance, and other open blockchains, there will always be new projects, whether they are scam projects or real projects. really have a product to put to good use
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Most of the projects that are launched since 2021 are fake or scam. As crypto is spreading more and more people coming to invest in crypto. But many of them doesn't have any prior knowledge of investment in crypto. These projects are targetting them to steal their money.
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Scams are predominant in the cryptospace, thus they will always tend to exists. Maybe it will reduce as a result of people getting wiser and investing with due diligence but scam projects will always be springing up in the cryptospace.
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maybe when we come across the project be more careful and analyze when you want to invest pay attention to the team and the roadmap if we find some unclear points , its better not to invest .
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Not being a part of such project is the best and sure way of avoiding scam projects/campaigns. There will definitely be scam projects out there to make money from people, and where it makes me so upset is the investors, who made huge investment and they end up losing everything.
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Certainly, don't take an interest is the answer for quit turning out to be trick casualty. It will be difficult to recognize trick project except if it is self-evident.
Some undertaking needs to succeed but since of market instability and low trust from local area. The undertaking transform into trick.
Mindfulness and be cautious about the thing everybody's doing is acceptable shield however.
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I still believe the reason there are so many fake projects is that they also know that this business is very promising and they will commonly get big products. There free they always serve very promising projects, but in fact, that is a scam. Many more examples to e done the
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It is enough to make a base of fake projects so that the user can evaluate his project from the list with a project from the base list. I think this is not a new idea and this should already be done earlier, tell me if there is such a scheme already and can I use it. thanks
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Yes, there are many scams in this cryptocurrency market that we should all stay away from. And investors should try to stay away from these scams without losing their money by investing in these scams.
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There are always some fake projects in the market. However, not all new projects are fake. At present, with the increase in the popularity of new cryptocurrencies, a good situation has been created in the market. The popularity of new projects is constantly increasing. But one should be careful before investing in new projects. Most of the new projects are now much more successful flowers.
Yes I agree with you. There are a lot of new projects coming up in the cryptocurrency market right now that aren't fake, almost all of them are good. There are many projects that are completely realistic and from which users get a good result. Although some projects are fake, most of the projects in the cryptocurrency market are doing well now.
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This is bull season and due to the unregulated nature of cryptocurrency, it is easy for anyone to open a fake project on Twitter or Telegram, some even without a website. That is why it is the responsibility of the potential investor to carry out due diligence and scrutinize the project before committing their funds to strangers. There are obvious red flags that show many of these suspicious projects as scams.
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That is why it is the responsibility of the potential investor to carry out due diligence and scrutinize the project before committing their funds to strangers.
It is very difficult for ordinary people to carry out project due diligence, due diligence can only be carried out thoroughly on project reviews like ICOBENCH, while we can only do research, yes, at least we can still do research by looking at the due diligence reference from platforms like ICOBENCH.
The rest is only a matter of time we will see the project we are researching will be a scam or not.
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To stop scam coin, that nothing we can do. Scam coins always created by people for one purpose. And we can stop people like that..
So we must protect ourselves. The easy way is never ever to buy their coin..
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This is one of the oldest problem in crypto space from 2017 when most of the ico was scam so that's how ieo came in the market in this everything is documents verified so no need to fear when investing our money in any particular crypto project.
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What can we do to stop scam projects? almost nothing. Many types of real projects do not even want to create a website and a whitepaper, they just take or buy a project website that either ceased its activity or simply disappeared. They buy out the domain, make minor edits, change the name and that's it, voila, the new project is ready and few people will remember that the same project existed several years ago. You can raise funds and deceive people, so the only way is to study all their information well and understand how hard they tried)
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Almost almost the only way to drastically reduce the level of cryptocurrency fraud is to license this type of activity from local government bodies or simply keep strict records and verification of all cryptocurrency projects that are associated with the release of new cryptocurrencies. Public control has practically no effect. And cryptocurrency has attracted and is attracting the attention of scammers by its relative anonymity, the ability to work using the Internet anywhere in the world, and of course, large amounts of capital that are invested in cryptocurrency.
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It's very simple, the more people are interested in cryptocurrency, the more fraudsters there are in this area. Moreover, no one controls all this and does not punish in any way.
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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?
That's normal, and always be there. I agree with this opinion because Its really difficult to keep crypto from scam and fake project.
I think It depends on us to research before to invest.
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It's very simple, the more people are interested in cryptocurrency, the more fraudsters there are in this area. Moreover, no one controls all this and does not punish in any way.
Yes, impunity plays a very important role here. Relative anonymity, work via the Internet and the almost complete absence of any rules for creating new tokens, this is a very good environment for numerous scammers. In addition, many newcomers are now entering this market and they primarily become victims of scammers.
In order for the fight against cryptocurrency fraud to be effective, administrative regulation of this type of activity by states and their authorized bodies is necessary. If the identity of each team member of a new project in cryptocurrency is established and verified, the number of scammers will immediately decrease.
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Scam projects are always there but it increases when the market becomes good because many scammers intentionally launch their projects to scam people especially in the bull market because they know investors are always more in a bull run as compared to bear run and most of the scammer projects run away after collecting the money so we should always be careful while investing.
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This trend is getting worrisome. My binance smart chain wallet is inundated with scam airdrops worth thousands of dollars due to dust attacks. And some newbies are falling victim to such scam airdrops, thinking they are hitting good money, not knowing they are setting themselves up
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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?
I think we can't stop scam coins and scam projects.
It will always been there.
We as investors, bounty hunter must be careful to choose the projects and coins.
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Crypto currency is one of the best investment platform in the world. So day by day new project is launching for that reason lots of competitor are competing. So that many project is launching for that reason many scam project are launching and so that there have no regulation in the crypto currency launching for that reason lots of scam project launching.
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This trend is getting worrisome. My binance smart chain wallet is inundated with scam airdrops worth thousands of dollars due to dust attacks. And some newbies are falling victim to such scam airdrops, thinking they are hitting good money, not knowing they are setting themselves up
I think there are many users who have useless tokens in their wallets. The techniques they use are increasingly advanced, but our knowledge must also advance so as not to fall into these types of traps. This forum is a knowledge base where less experienced users can learn the basics before doing some things, sadly most do not, many do not want to spend a few weeks on a type of reading that could help them a lot in the future.
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It's no other obvious reason but the greed for money those scammers that initiated a fake crypto project are those greedy people that want easy money at the expense of other people hard-earned money, As we observe nowadays when the Ethereum gas fees are expensive the scam crypto projects on Ethereum was reduced and because the BSC Network are getting popular nowadays it is the new haven for scammers that frequently creating a fake token/project that's why? beware everyone just check before you invest if the token/project is legitimate.
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Crypto is a big platform so scamer really true to scam you. We have seen lots of scam project but the reason of become scammed we actually Don't research before investing any project.They have given us a greedy offer and we fall into the trap. We need more careful before invest on any project. Its a easy thing scammer always try to scam you and its a easy work for him so that we are notifying that a lots of scam project here and there.
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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?
I think that's normal and will be happen.
I see many BSC projects are scams beside ERC20.
We must be careful, scammers will be there every where.
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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?
I believe no one controls the market entry and exit so you would expect things like this to happen plus we know all of the crypto projects out there are for-profits and close to half the crypto projects are scams, Devs just waiting to take off with investors money after they make enough and this will continue to happen since there is no regulation par say.
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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?
I think we should do research and be careful.
I think noway to stop scam projects.
that's really difficult, because we will see scam projects every time.
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Indeed, a bunch of fraudulent projects appear, sometimes you can't even see them, so they cleverly disguise themselves as excellent and promising projects, it is best to communicate with the community of this project and pay attention to details.
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Of course, in stopping a scam project by choosing the project that we will work on, it is clear where the project came from carefully then you have succeeded in stopping the scam project, hopefully we will avoid being scammed
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In every unregulated market or state, crime lives and reigns. Its a human axiom. And there is nothing you can do about it. And crypto is no different. As long as there is little or no regulations, exit scams, rug pulls etc would be a norm. Criminals always find a away in
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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?
Basically cryptocurrency projects are out to make profits and since people have seen the way Investors get into the space and have even made profits from projects that don't have anything to offer per se, it is no surprise that more people will get into the space too to create projects just to make money from investors and this will continue IMHO unless the investors cease to invest in projects without anything to offer aside trade.
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Yes, as the market grows such fake Airdrops and scam projects will also increase and we should identify such projects at the start so that can not be scammed even I already left filling Airdrops because I am always doubtful to click the link from the unknown sources so I avoid clicking links from the unknown sources. I joined only bounty-running Airdrops. We can not do anything to stop such projects because some dev intentionally introduce their projects to scam the people and on the other hand some failed to meet even the soft cap.
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Yes, as the market grows such fake Airdrops and scam projects will also increase and we should identify such projects at the start so that can not be scammed even I already left filling Airdrops because I am always doubtful to click the link from the unknown sources so I avoid clicking links from the unknown sources. I joined only bounty-running Airdrops. We can not do anything to stop such projects because some dev intentionally introduce their projects to scam the people and on the other hand some failed to meet even the soft cap.
I think It's not big problem ,if we saw there are many scam projects.
I think we always see there are many scams projects at crypto currency. Be careful.
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Immediately faced with many incomprehensible things, people are lost. And when a person is at a loss, it is very easy to mislead him. And scammers use this with success. And now a lot of people have come to cryptography. Accordingly, scammers have become much more active.
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they are going to launch their own gaming site soon and the alpha gaming testnet may launched already . So after they successfully launch their gaming platform, the coin will surely raise up to 100 dollars plus .
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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 increase of fake crypto projects will only continue if most of the community will never learn from their mistakes and greedy won't stop doing it just simple as that. This is the reason why fake projects continue to rise dude to some of the community are truly lack of knowledge in terms of crypto trading.
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Don't you think this is normal to grow scam project on crypto market? Because every one want to earn money free and scam project based team want to do the same. This is why they just do little bit marketing about their project and hire some famous investor to attract other little investor. Once they collect enough funds from the investor or their project start to be good, they unlock their all token and let the market down super low. Thus they earn money and this is why the scam project keep increasing on market.
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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?
Why increase of fake crypto project ? because many scammers want to get money quickly, by create scam projects.
We must to invest in new project.
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I think It's not big problem ,if we saw there are many scam projects.
I think we always see there are many scams projects at crypto currency. Be careful.
I don't quite understand what you have said, you say that scams are not a big problem and then you say we should be careful. Scams are one of the biggest problems in the crypto industry, even more so than the market crash or problems we may have with any government. Scams discredit the entire ecosystem, causing it to lose credibility and increase criticism. No one is safe from scams, not even the most experienced users or companies.
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The more interest in crypto grows and the more opportunities arise to make money on it, the more scammers will use these reasons to take advantage of human passions and greed. ;)
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I think there are a lot of fake and scam projects because they really see an opportunity to commit fraud in cryptocurrency by making projects that look good but they will disappear in the middle of the road when they get a lot of profit, it's just that maybe those who dare to do that are people who don't fear in prison and of course the identity of the developer who is very secret and not known to many people.
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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?
That's true, there are many fake projects
The reason why the increase of fake crypto project because to easy to create coin and make fake project.
Be careful mate,
I have several time invested in fake project, shitcoin and Rug
It's annoying, I will never invest in it again.
Better do research detaily before invest.
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Honestly since there is no regulation in crypto space. There will always be a fake project at any point in time. It is good to do adequate research before investing in any project. Check the team background, the whitepaper and problem the token wanted to solve. On the other hand there are still many good projects to invest such as paragen that have over 160k active members on telegram, all rounds of IDO sold, listed on pancakeswap less than 2 days and activated staking program as promised
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Honestly since there is no regulation in crypto space. There will always be a fake project at any point in time. It is good to do adequate research before investing in any project. Check the team background, the whitepaper and problem the token wanted to solve. On the other hand there are still many good projects to invest such as paragen that have over 160k active members on telegram, all rounds of IDO sold, listed on pancakeswap less than 2 days and activated staking program as promised
What regulation did you mean, we all know create new coins at crypto is too easy.
I agree with opinions, I think It make scammers always have idea to create scam projects.
I have seen many scam project on BSC, So be careful and always do research the man behind the team.
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Crypto is a big platform so scamer really true to scam you. We have seen lots of scam project but the reason of become scammed we actually Don't research before investing any project.They have given us a greedy offer and we fall into the trap. We need more careful before invest on any project. Its a easy thing scammer always try to scam you and its a easy work for him so that we are notifying that a lots of scam project here and there.
Agreed, We must be careful before invest in any projects, That's true.
I see there are many scam projects.
As you said crypto is big platform and too easy to create tokens.
I think we must learn whitepaper, roadmap, team etc.
If we are confident, we can invest on their project
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Honestly since there is no regulation in crypto space. There will always be a fake project at any point in time. It is good to do adequate research before investing in any project. Check the team background, the whitepaper and problem the token wanted to solve. On the other hand there are still many good projects to invest such as paragen that have over 160k active members on telegram, all rounds of IDO sold, listed on pancakeswap less than 2 days and activated staking program as promised
Regulation in crypto space is very difficult because it is global. At the moment, the world financial system does not accept it although some countries do. I feel we had lesser fake projects than in previous cycle because of the involvement of many VCs. They do the research and the team close for proper investigation.
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It is very reasonable and very valid if there are so many altcoins that are pressured to go up but all of them are forced because I believe that at this time it is a Bearish phase, it's just that the current Bearish phase is different from the Bearish in 2018-1029.
Maybe now there are many altcoins that still survive and are able to continue to be in the cryptocurrency space but can't afford to be able to increase their prices as quickly as during the Bullish period.
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The cryptocurrency sphere is becoming more and more popular and thus profitable and more and more scammers want to make money in this area, that is why there are so many cryptocurrency projects that turn out to be scams and therefore you should always carefully study each cryptocurrency project in which you want to invest.
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The cryptocurrency sphere is becoming more and more popular and thus profitable and more and more scammers want to make money in this area, that is why there are so many cryptocurrency projects that turn out to be scams and therefore you should always carefully study each cryptocurrency project in which you want to invest.
That's true, crypto is gaining popularity day by day and more popular now..
Many scam or fake projects are increasing.
I think It's easy to create coins.
As investors we should be careful join IDO and ICO.
It's really early, more risky.
I think better to invest in old coins, especially top 10 coins.
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That's true, crypto is gaining popularity day by day and more popular now..
Many scam or fake projects are increasing.
I think It's easy to create coins.
As investors we should be careful join IDO and ICO.
It's really early, more risky.
I think better to invest in old coins, especially top 10 coins.
Investing in the top 10 might be a good idea, but I'm not 100% convinced. If we did that now, we would need a lot of money to invest, since investing a little would not bring us much. On the other hand, if we look for new projects that really have potential, the benefit can be much greater since we are early adopters, which is always an advantage. As we know, investing always carries risks, but if we know how to search well and find cutting-edge projects with new use cases, that risk is minimized.
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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.
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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
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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
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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.
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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.
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how to stop fake coins unfollow them and just do a good airdrop because fake coins need a lot of time to attract investors
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.