Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: TomPluz on September 13, 2021, 06:05:39 AM
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I have been with the cryptocurrency industry for years though I am more of an observer rather than a very active participant. Through the years, I have so many scams in this industry as many scammers are taking advantage of the new market and a big number of people who are getting interested with cryptocurrency. Sad to say that my first coin was not actually Bitcoin but something that eventually became a scam.
With this in mind, whenever I am looking at a new project or a start-up in cryptocurrency, I look for possible red flags like the team...the more open and communicative are the team members especially in their own group chats the better the chances that they will not eventually run though of course there is always no guarantee for this.
Then I always look at Google for accusations of being a scam. And I think Reddit can be a good site for this. of course, there can also be baseless accusations or those not proven to be true just like my experience with Origin Protocol when someone accused it of just using copied WhitePaper but it eventually grow into a legit and highly valued platform.
One of the big barrier in establishing credibility of a project is the fact that our interactions are limited in the world of online...unlike if you can go to their office (if they have one) and rub some shoulders with people who are starting the project...though again this is not a 100% guarantee whatsoever.
Please share your ways and means in analyzing a project so we can avoid being scammed...again!
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I think It's really difficult to detect scam project. Learn the white paper , road map and always follow the social media of the team.
If you confident with the team and project , I think You can invest on it.
Always be careful
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It's really important to be aware that crypto projects can be a scam. I'm sorry that you fell victim to one in the beginning.
Sure, there is no way to be a 100 percent sure whether something is legit, but doing thorough research goes a long way. In my opinion, it is better to decide not to invest if you are unsure about something.
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1- We should check for similarities or plagiarism with other white papers, there are many tools available to check.
2- Search for information prior to the project about team members, social networks, jobs in other companies...
3- Direct communication with the team, if it is little or none, we must discard the project.
4- Ignore all the projects that promise impossible things like: Binance soon, big pump on the way...
5- Ask very technical questions of team members, scammers generally don't have that knowledge.
Those are some of the things I do, DYOR is the most important thing, and even then we are not 100% sure.
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Yes, there are so many scam projects moreover in this crypto world. Many of them are not yet detected, so if we are searching on google for scam accusations, they're may be not all scam projects are revealed.
The ways I look at scam projects:
- The project is too good to be true
- The team is fake or using fake social media, not clear enough
- Using duplicate whitepaper
- Seen from its website
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It's really important to be aware that crypto projects can be a scam. I'm sorry that you fell victim to one in the beginning.
Sure, there is no way to be a 100 percent sure whether something is legit, but doing thorough research goes a long way. In my opinion, it is better to decide not to invest if you are unsure about something.
confidence must be instilled first after analyzing it well, whether you want to continue or not. sometimes the analysis also cannot determine whether it can be a good and correct analysis, sometimes it can even be the other way around.
In the end, all of us cannot avoid the luck that we might experience, this is difficult to predict and sometimes our analysis is sure that it is not wrong, but the analysis that does not believe is what works. but our goal is to continue to be able to observe properly first, so that later fate will determine.
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Yes, there are so many scam projects moreover in this crypto world. Many of them are not yet detected, so if we are searching on google for scam accusations, they're may be not all scam projects are revealed.
The ways I look at scam projects:
- The project is too good to be true
- The team is fake or using fake social media, not clear enough
- Using duplicate whitepaper
- Seen from its website
I think your opinions are true mate.
I agree with you, several scammers have used duplicate white paper and using fake social media.
In my analyzing, I see many scammers always used both.
So be careful to invest at those projects
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Actually it's impossible to reveal scam in advance because a lot of projects, which haven't initially been planned as scam, preferred to take money and dissapear(
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Actually it's impossible to reveal scam in advance because a lot of projects, which haven't initially been planned as scam, preferred to take money and dissapear(
it could be that your argument is correct that at first there was no intention, but because of the situation he was in, in the end there was no other way for him to commit fraud. but maybe this is less than the intention from the start was to deceive. it can be seen from the unclear membership and incomplete website and WP or plagiarism from other projects.
Those who did it from the start really wanted to aim to cheat, indeed more % were done than because of an unexpected situation. but indeed there is no medicine until now to be able to reduce things like this. so in the end many just gave up, fortunately % who cheat with good intentions are still relatively small but are constant and always exist.
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Actually it's impossible to reveal scam in advance because a lot of projects, which haven't initially been planned as scam, preferred to take money and dissapear(
Some are so obvious scam from the beginning. Not visible team, no white paper, dead community, no transparency, more on taking advantage, and dishonest and unreliable answers.
The mention above would not always be the basis to define scam projects for some are looking good from the beginning yet will gone at the top of successful presale.
Another case is the unforseen serious circumstances along the way that may severely damage the whole plan. The result may end up like a scam.
It is our duty to watch out the potential projects and avoid the shits one. Nobody's perfect
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I think it is very difficult to detect a scam projects in crypto because you can never be too sure if the project is legit or scam even after DYOR the project you take to be scam may turn out to be a good one but i try as much as possible to stay away from projects that makes promises that are too real to be true and sometimes i take the risk by investing in some of those projects.
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I think It's really difficult to detect scam project. Learn the white paper , road map and always follow the social media of the team.
If you confident with the team and project , I think You can invest on it.
Always be careful
yes you are right , it's not an easy to detect project is scam or legit . But i belive project who have dox team their are probally 80% chances that project is legit . But still we must check project Whitepaper , wen authorities , their investor and backup project, their partnership etc .
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yes you are right , it's not an easy to detect project is scam or legit . But i belive project who have dox team their are probally 80% chances that project is legit . But still we must check project Whitepaper , wen authorities , their investor and backup project, their partnership etc .
I agree with what you say, but still those teams can end up being a scam. I've seen it a couple of times and they don't care that everyone knows who they are, they disappeared with the funds. Let's not forget that teams that let a project die for lack of development and effort should also be considered scams, there have also been many cases of this type, that is why when development slows down or interaction with the team is less we must be alert.
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Now, the level of scammers has also increased and they create projects that seem very quality and very good ideas like GameFi or NFT. It is very difficult to confirm whether a project is a scam or not, we should only focus on finding really good projects based on the partners, investors, team and solutions of the project.
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Now, the level of scammers has also increased and they create projects that seem very quality and very good ideas like GameFi or NFT. It is very difficult to confirm whether a project is a scam or not, we should only focus on finding really good projects based on the partners, investors, team and solutions of the project.
Would like to include the visibility of project team. Real identity could be a good sign to know more about the project and how's the team play very well and tirelessly. Confidence in knowing the team is a factor.
Although real identity is not the assurance for success, but it could help to boost the community's confidence that they are in the right investment specially nowadays of NFT, GameFi and DeFi revolution.
Yeah, partnership and investors are so attractive to trust the project for long term means of investment.
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I do not think that there are any criteria by which it is guaranteed that it is possible to determine a scam. The only exceptions are frank cases when everything is visible at once, such as different pyramids and its varieties. Many projects first work, they lure, and only when they collect a significant amount they disappear. And there are many such examples , my own intuition will help more here. I think so!
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I also watch from the side mostly. And I very rarely invest in new projects. I don't trust anyone.
And I think it's better not to make a profit than to invest money in a scam and lose
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There are some ways to detect a scam project. Here I want to mention some points.
1. Fake team members of a project.
2. Plagiarized Whitepaper.
3. Inappropriate roadmap of a project.
4. False promises of high return in a short time.
5. Newly opened social media of that project.
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There is no sure fire way of detecting scam projects. But eventual scams tick some of my red flags. These include the regulars like plagiarized Whitepapers, fake team or devs, unrealistic profit etc. There are others like poor social media content which is very important and has ticked my boxes
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It is difficult to detect scam projects but we can do efforts in some ways. At least, we must check the whitepaper and found suspicious things there. If there are no suspicious things, we can assume it is a good project. Another way, we can analyze the social media of the projects, check if the social media are active and updated. The last, we can analyze the information of team members, whether they are fake or real ones.
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they have made the project to deceive investors, can dredge funds to make a profit. it must be admitted there are difficulties to be able to stem the things they do.
they prepare everything as well and in as much detail as possible, although sometimes they have to copy and paste from projects that have already been carried out, but there are still many investors who can be deceived and still believe.
can only take action to minimize the possibility of fraud, with the cooperation of all parties without exception. especially clear to those who have experience detecting projects are indeed fraudulent. it seems that at this time it feels very individual, that there is no desire, already aware of the existence of a fraudulent project, to be able to immediately prevent it. but kept the project running and did not attempt to provide information directly to investors and bounties.
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It is difficult to detect scam projects but we can do efforts in some ways. At least, we must check the whitepaper and found suspicious things there. If there are no suspicious things, we can assume it is a good project. Another way, we can analyze the social media of the projects, check if the social media are active and updated. The last, we can analyze the information of team members, whether they are fake or real ones.
Yes, You're right. I think we must check and learn their white paper.It is real or only copy paste from other project .
Always follow their social media update and check the team.
Because we must be careful.
There are many scam project at crypto currency world.
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What about the case when there is no whitepaper and team? Webpage was created long time ago and what project offers looks logical and achievable. This looks like a perfect project on the paper.
Long time ago I have decided for myself, that mosts of the projects are lottery. Either you win or you get scammed.
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We should only invest in projects that have profiles on Coinmarketcap & Coinecko.
Avoid projects with anonymous teams or no real solutions.
Top coins are the best to invest: BTC, ETH, BNB, FTT, EOS, SOL, NEAR…
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We should only invest in projects that have profiles on Coinmarketcap & Coinecko.
Avoid projects with anonymous teams or no real solutions.
Top coins are the best to invest: BTC, ETH, BNB, FTT, EOS, SOL, NEAR…
Anonymous team could easily run all the money and leave investors crying. Good point not to invest on them but sometimes we should not limit our boundaries to anonymity if the team is really doing their best to update the community and making the project to boom accordingly to whitepaper and roadmap.
Anonymous project without achievements, partnership, updates, and progress is a big big NO. Rug pulled may happen any time soon.
But of course the safest way of investment is knowing the individual who's belong to the team. But it is not guaranteed to 100% succeed. Success depends on community, demands, platform, and the market movement.
As always, invest what we can afford to lose(just in case).
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We should only invest in projects that have profiles on Coinmarketcap & Coinecko.
Avoid projects with anonymous teams or no real solutions.
Top coins are the best to invest: BTC, ETH, BNB, FTT, EOS, SOL, NEAR…
If you talked about old coins such as BTC, ETH, BNB, FTT, EOS, SOL, NEAR, We can say they are reputated team and have real project
But I think OP asked how to detect scam project if they are new project..It's really difficult.
We must learn white paper, team and always follow their social media account.
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In my experienced, checking the project it is really difficult to detect a scam project because some of them looks legit and very convincing but in the end of the day they will gone, they ran with investors money. It is really risky if you invest in the new project, it is better to invest in the top or old coins in the market because those are still good investments.
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It is very difficult to fully assess the project. Take the MINA protocol for example, it was a very promising project according to the description, but when it came to transactions .....
Therefore, I do not know how to make a full assessment of the project, if someone has a solution to this issue, I will be glad to hear it. Thanks.
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I also can't judge when the project will become a scam or succeed because I'm also still learning in investing in cryptocurrencies which of course changes every day.
Maybe I also have a local special group for cryptocurrency analysis and surely this will provide something very useful for me so as not to fall into the abyss of SCAM.
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I am wary of a fraudulent project. I identify such projects by scanning, in a telegram bot, which provides information about the token. Always check the token for fraud before buying. But it doesn't always help. I try not to buy such tokens, as this is a risk.
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Running Market situations one can not verified any projects because scammers always very intelligent and they arranged scams projects such a way that very hard to identify. But scam project never have definite website, whitespaper and lightpaper. They can't arrange any ama with visible camera or webcam.
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It is difficult to predict whether new projects in the cryptocurrency market will be fraudulent. Because scammers are very talented. They do it with a lot of intelligence to each one. So it is almost impossible to find scam projects. However, many projects are successful as promised. So you have to recharge well and invest in new projects.
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Most scam projects are very difficult to find. Because those who find scam projects, they have to have a lot of knowledge about project development. Moreover, the project can never be recognized by looking at the external aspects of the project. A lot of research is definitely needed to come up with a good project. An investor needs to know more about website, white paper, more team management.
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It is difficult to predict whether new projects in the cryptocurrency market will be fraudulent. Because scammers are very talented. They do it with a lot of intelligence to each one. So it is almost impossible to find scam projects. However, many projects are successful as promised. So you have to recharge well and invest in new projects.
You're right, scammers are very talented but didn't have good character.
It's really difficult to detect scam projects.
We must have experience how to know their team, white paper and always update their social media accounts.
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Well, the easiest option is to find the official website, find a group in telegrams, write to the administrators, if they do not answer, this should alert you. Also, if the project has too generous shares, this is a sign of a scam. Here are a few signs I can name.
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Well, the easiest option is to find the official website, find a group in telegrams, write to the administrators, if they do not answer, this should alert you. Also, if the project has too generous shares, this is a sign of a scam. Here are a few signs I can name.
Well, I think you're right. Check official website, telegram group and try to talk to their admin about progress of their project.
If the answer is make sense, I think we can consider their projects are legit.
That's my way to detect scam projects.
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When analyzing a project, I always draw on the pool of investments in it, as well as the team that develops this project, which is also an important component when choosing a project, it is its adaptability and novelty of the project, because many projects have moved forward thanks to their technologies and innovations ... those are the main aspects that I pay attention to when choosing a project.
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I think It's really difficult to detect scam project. Learn the white paper , road map and always follow the social media of the team.
If you confident with the team and project , I think You can invest on it.
Always be careful
Before investing any projects, one should deeply analysis and research white paper, light paper and websites. Actually geniuen projects team management comes to AMA with different projects aspects.
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You cannot identify which of the running projects is a scam and which is a real project. There are no specific signs to identify scam projects, but team management is currently visible If you can diagnose scams project.
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You cannot identify which of the running projects is a scam and which is a real project. There are no specific signs to identify scam projects, but team management is currently visible If you can diagnose scams project.
Actually there are ways to identify the project if possible scam or not. Easy step is inconsistent to their words spoken to community. No white paper, roadmap and team. If possible better to find them visible. If not there's a chance of scam (I'm not saying all just for security reason). You know, if you don't have set of standard to define which is scam or not, you might find yourself one day tried/trying to join all scam projects
Better to have set of standard how to seek good project and how to avoid possible scam project. Always bear in mind don't expect too much and just invest what you can afford to lose if you will invest.
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The many Crypto projects today make us have to be very clever in choosing which Crypto projects we should participate in to participate, be it when we want to invest or trade them. But not a few of these projects turned out to be scams and made us suffer losses. And to avoid the SCAM project we have to look at several factors, one of which is the team from the Project. I think a good project will be handled by a good team.
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The main thing to be analyzed to detect the scam projects is the team members' profiles. We must know more about the profiles of each team member of the project, it can help us to detect whether it is a real project or not. A real project must have great team members and the information of the team members aren't difficult to know.
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The main thing to be analyzed to detect the scam projects is the team members' profiles. We must know more about the profiles of each team member of the project, it can help us to detect whether it is a real project or not. A real project must have great team members and the information of the team members aren't difficult to know.
Yes, yore right we must check team profile. and also lear their project.
I think there are several scam project, So we must be careful.
But I know, there are scam bounty manager too.
We have seen at this forum and others.
that's normal and always be happen.
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It is actually very hard to detext whenther a project is scam or legit. Sometimes they are like similar, like the legit one. They have great comunity and also concept. But sometimes, their project is too good to be true. Additionally we can see their team members if they are or fake
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As long as there is no special agency that handles new projects before they carry out a private sale or public sale it will be very difficult to detect that the new project will have fraudulent intentions. Launchpad, like the one held on the binance exchange, helps in some way reduce new project scams.
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As long as there is no special agency that handles new projects before they carry out a private sale or public sale it will be very difficult to detect that the new project will have fraudulent intentions. Launchpad, like the one held on the binance exchange, helps in some way reduce new project scams.
talking about launchpad in binance, I agree It reduces scam project.
but to detect scam projects, it's really difficult.
We always see scam projects, scam team and take account of them.
maybe other member can explain about how to detect scam project.
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It is not really easy to detect which project is a scam project and which is a profit driven project. Even, most successful projects still ends up scamming its users in one way of the other, so it is not really easy to detect which is not a scam. Though, with some observations and research about the project and team managing the affairs of the project, such as active social media platforms with info coming in and out on every meetings, active team members ready to keep all participants and investors updated with the growth of the projects. Team members that are ready to answer any doubt questions and give the best reasons for the success of the project. And some other things that will be of a useful tool to help.
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Scammers are always appear in the crypto world. So always have to be careful. Everyday there are many projects are coming in the crypto world and all of them are not legit. There many projects are called scam project dui to their intention or many other things. Before select any project you need read their white paper. You should browse their all the links. You have to understand what they really want and their activity. I think those are the important issues to find a scam project or legit.
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Currently the scam project is much more so bounty Hunter Most are deceived.Small bounty Hunter They do not understand well that any project is a scam.But now we have the ability to understand the way the project is going. So we have to work on the project knowingly or we will be deceived.
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Not very easy to identify a scam projects or fuad projects but scam projects have some features that seems to be a scam... scams project have poor community, no team management and Whitepaper. Scams project have no definite roadmap.
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Not very easy to identify a scam projects or fuad projects but scam projects have some features that seems to be a scam... scams project have poor community, no team management and Whitepaper. Scams project have no definite roadmap.
It seems to me that all this can be faked. But it is very difficult to build a community that is really interested in the work of the project. You can still see and check if the investors are real.
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As long as there is no special agency that handles new projects before they carry out a private sale or public sale it will be very difficult to detect that the new project will have fraudulent intentions. Launchpad, like the one held on the binance exchange, helps in some way reduce new project scams.
talking about launchpad in binance, I agree It reduces scam project.
but to detect scam projects, it's really difficult.
We always see scam projects, scam team and take account of them.
maybe other member can explain about how to detect scam project.
While I don't think there is a method that's 100% accurate in detecting scams, doing some research can go a long way. If you look at a project and its website, you should ask questions such as, are they transparent about the team behind the project, do they have a sound value proposition, do they communicate clearly and give good answers to questions if you contact them via customer service or social media, etc.
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I have been with the cryptocurrency industry for years though I am more of an observer rather than a very active participant. Through the years, I have so many scams in this industry as many scammers are taking advantage of the new market and a big number of people who are getting interested with cryptocurrency. Sad to say that my first coin was not actually Bitcoin but something that eventually became a scam.
With this in mind, whenever I am looking at a new project or a start-up in cryptocurrency, I look for possible red flags like the team...the more open and communicative are the team members especially in their own group chats the better the chances that they will not eventually run though of course there is always no guarantee for this.
Then I always look at Google for accusations of being a scam. And I think Reddit can be a good site for this. of course, there can also be baseless accusations or those not proven to be true just like my experience with Origin Protocol when someone accused it of just using copied WhitePaper but it eventually grow into a legit and highly valued platform.
One of the big barrier in establishing credibility of a project is the fact that our interactions are limited in the world of online...unlike if you can go to their office (if they have one) and rub some shoulders with people who are starting the project...though again this is not a 100% guarantee whatsoever.
Please share your ways and means in analyzing a project so we can avoid being scammed...again!
Now, the level of scammers has also increased and they create projects that seem very quality and very good ideas like GameFi or NFT. It is very difficult to confirm whether a project is a scam or not, we should only focus on finding really good projects based on the partners, investors, team and solutions of the project.
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While I don't think there is a method that's 100% accurate in detecting scams, doing some research can go a long way. If you look at a project and its website, you should ask questions such as, are they transparent about the team behind the project, do they have a sound value proposition, do they communicate clearly and give good answers to questions if you contact them via customer service or social media, etc.
Determining a project for the fact of fraud is difficult enough. In this case, there are many factors to consider. And even if one is in doubt, take it seriously.
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While I don't think there is a method that's 100% accurate in detecting scams, doing some research can go a long way. If you look at a project and its website, you should ask questions such as, are they transparent about the team behind the project, do they have a sound value proposition, do they communicate clearly and give good answers to questions if you contact them via customer service or social media, etc.
Determining a project for the fact of fraud is difficult enough. In this case, there are many factors to consider. And even if one is in doubt, take it seriously.
agree, I think It's difficult to detect scam project.
I have joined several bounties, learn their projects Nd man behind the team.
But Several of them , also scam. Never distribute their tokens.
So, Its really difficult mate.
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agree, I think It's difficult to detect scam project.
I have joined several bounties, learn their projects Nd man behind the team.
But Several of them , also scam. Never distribute their tokens.
So, Its really difficult mate.
Bounty projects are a completely different category. By the way, there are even more of them in it. But how to distinguish fraud in projects that are already on the market is a big question. After all, someone still believes that even Bitcoin is the main bubble of the cryptocurrency.
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Currently the scam project is much more so bounty Hunter Most are deceived.Small bounty Hunter They do not understand well that any project is a scam.But now we have the ability to understand the way the project is going. So we have to work on the project knowingly or we will be deceived.
Now good projects receive little investment, and scammers have moved to another level.They go on telegram chats and offer to invest in their project.But there are fewer and fewer such projects.People have become smarter. It was a huge number of them in 2017, when everything started.
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So far from my experience it has been very difficult to determine whether the project is a scam or not because most of the fraudsters evaluate and try to keep it going well and it doesn't appear at first that you want to scam, so wherever you are and whatever coin you want you buy you should be able to examine more deeply.
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Right now there are fewer fraudulent projects than there were before, and it's so difficult to determine what kind of project it is and what its goals are in terms of fraud. Unless they don't want to bother and make a lot of mistakes.
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I must say that it is not always easy to detect fake projects. But I used to look out for the following things. First is the website and I will check if the website is standard enough and free for grammatical errors, the roadmap and I will check what they have done and their next of tasks. Secondly, I will check their whitepaper how professional it is. I will also check if there is any errors in the whitepaper. Thirdly, I will check the team member and I will check if there is any of the member that is verified. Fourly, I will all the social media how coordinated it is before I will draw my conclusion about the project.
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Actually it's impossible to reveal scam in advance because a lot of projects, which haven't initially been planned as scam, preferred to take money and dissapear(
Yes you are absolutely right because it's very difficult to identify scam projects due to the excessive crowded of huge amounts of projects daily. But only top ranked exchanges launched ieo projects that you can invest undoubtedly.
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Yes you are absolutely right because it's very difficult to identify scam projects due to the excessive crowded of huge amounts of projects daily. But only top ranked exchanges launched ieo projects that you can invest undoubtedly.
Yes, the quantity just doesn't give you more time to identify fraudulent projects. For this, many creators expect that they will not be revealed in such an amount. Here it is already necessary to carry out a scrupulous analysis.
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Some scam is project not a all project but trading on crypto was risky and if you can't afford any lost then i don't recommend it mate, Maybe better to make that money as capital for small busines or maybe dropshipping. Seriously it was risky but if you insist maybe you can try to buy some altcoins on top 10 Like Ethereum, BNB Solana ADA etc.
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To see the project ended in fraud what I did was look at the smart contract and the number of liquidity pools on the https://unicrypt.network platform
Usually a good project developer will lock tokens for 1 year and more with a large amount of funds, the next thing is to see if the project has been audited, some good projects will do Audi with Certik, but both research I did could end up scam if the developer the project intends to run to take advantage of the investors.
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Yes, some scam project is live so you can't face scams if you knew the real products you wanted to bought in the first place, you can really avoid that. Decentralized exchanges isn't new in this since people can just deploy some contracts and the worst is, people do tend to clone some good projects just to exploit some scams.
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The opinion of authoritative people from Twitter helps me not to run into a scam. Anyway i prefer to participate in projects that are very good and there is no risk of scam i think this is the main thing that allows me not to run into a scam...
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The opinion of authoritative people from Twitter helps me not to run into a scam. Anyway i prefer to participate in projects that are very good and there is no risk of scam i think this is the main thing that allows me not to run into a scam...
How to detect the scam project mate.
I think OP asked it.
I think It's really difficult to detect.
Scam project always be there every years.
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The opinion of authoritative people from Twitter helps me not to run into a scam. Anyway i prefer to participate in projects that are very good and there is no risk of scam i think this is the main thing that allows me not to run into a scam...
Quite right. It is better to participate in one or two top projects than to take on everything, hoping to get at least some profit from this. I choose quality over quantity. But even in this case, you need to study the project thoroughly.
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The opinion of authoritative people from Twitter helps me not to run into a scam. Anyway i prefer to participate in projects that are very good and there is no risk of scam i think this is the main thing that allows me not to run into a scam...
Taking into account the advice of more literate people from the cryptocurrency market is the right decision. I also always try to find out the opinion of people who are more successful than me in the market, as they can tell which project is a scam and it is not worth participating in. I also share my knowledge with beginners, and this excellent relationship of crypto enthusiasts does not allow many people to lose money due to incorrect entry into a bad project.
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The opinion of authoritative people from Twitter helps me not to run into a scam. Anyway i prefer to participate in projects that are very good and there is no risk of scam i think this is the main thing that allows me not to run into a scam...
Taking into account the advice of more literate people from the cryptocurrency market is the right decision. I also always try to find out the opinion of people who are more successful than me in the market, as they can tell which project is a scam and it is not worth participating in. I also share my knowledge with beginners, and this excellent relationship of crypto enthusiasts does not allow many people to lose money due to incorrect entry into a bad project.
But there is another side of the coin here. After all, it is not uncommon for successful people to lure newcomers into projects just because they want to benefit from it. Take referral rewards for example. Although initially the referral program, as it were, itself signals us about the danger. But who stops it ...
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The opinion of authoritative people from Twitter helps me not to run into a scam. Anyway i prefer to participate in projects that are very good and there is no risk of scam i think this is the main thing that allows me not to run into a scam...
Taking into account the advice of more literate people from the cryptocurrency market is the right decision. I also always try to find out the opinion of people who are more successful than me in the market, as they can tell which project is a scam and it is not worth participating in. I also share my knowledge with beginners, and this excellent relationship of crypto enthusiasts does not allow many people to lose money due to incorrect entry into a bad project.
Yes we must be careful and share knowledge for the beginner.
I think It's good as human and senior here.
Talking about how to detect scam projects as OP asked, I think It depends on your knowledge.
Learn their team and project.
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Yes we must be careful and share knowledge for the beginner.
I think It's good as human and senior here.
Talking about how to detect scam projects as OP asked, I think It depends on your knowledge.
Learn their team and project.
I agree that the analysis of the team already gives a huge understanding of whether the project is fraudulent or not. But even if everything seems real, you need to keep looking, because having information about only one team does not give confidence.
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Yes we must be careful and share knowledge for the beginner.
I think It's good as human and senior here.
Talking about how to detect scam projects as OP asked, I think It depends on your knowledge.
Learn their team and project.
there is always a place to share and learn about detecting fraudulent projects, definitely great for beginners or anyone in need. but we know that fraudsters are also smart now to be able to trick. so sometimes need proper analysis, and search the literature that may exist for information on scam projects.
I agree that the analysis of the team already gives a huge understanding of whether the project is fraudulent or not. But even if everything seems real, you need to keep looking, because having information about only one team does not give confidence.
I agree, there are many obstacles that cause time to be a problem in itself. but once again scammers have also learned that certain things are always used as a reference and they correct it properly, so it is also difficult to trace. but there is always a gap, usually if we are helped from the scam project thread provided by the expert, so we can use it as a reference too.
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Yes we must be careful and share knowledge for the beginner.
I think It's good as human and senior here.
Talking about how to detect scam projects as OP asked, I think It depends on your knowledge.
Learn their team and project.
I agree that the analysis of the team already gives a huge understanding of whether the project is fraudulent or not. But even if everything seems real, you need to keep looking, because having information about only one team does not give confidence.
For me knowing the team is enough to have confidence that the project is real and not fraudulent. The issue is what will be the future? Of course we know the market is volatile which we may find it difficult to maintain the project in a good swing. Also the possibility to encounter unexpected scenarios that could trigger the potential to decline.
To maintain is another level of maturity. Circumstances aren't brand-new in crypto journey but there are a lot of victims that didn't and couldn't bear the high pressure of fluctuations and corrections.
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Actually, the project scam has the same pattern, namely not having a definite team, giving sweet promises that don't make sense and it's not clear where they are. when you want to decide to invest your money in an asset then do a deeper research so you don't lose in the future.
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Scam projects have
Poor communities
No roadmap
Plagiarism whitespaper
No exchanges listing plan
Debugging website
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The opinion of authoritative people from Twitter helps me not to run into a scam. Anyway i prefer to participate in projects that are very good and there is no risk of scam i think this is the main thing that allows me not to run into a scam...
No matter what authoritative people are, they pursue their goals. They can also recommend bad projects. And then they will say that they are not to blame. In 2017, there were many experts in chat rooms who were trusted, and they deceived their subscribers.
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The opinion of authoritative people from Twitter helps me not to run into a scam. Anyway i prefer to participate in projects that are very good and there is no risk of scam i think this is the main thing that allows me not to run into a scam...
No matter what authoritative people are, they pursue their goals. They can also recommend bad projects. And then they will say that they are not to blame. In 2017, there were many experts in chat rooms who were trusted, and they deceived their subscribers.
I would not follow someone else's opinion. Someone else's opinion is just a reason to become interested in the project, but you still need to conduct your own investigation so that it is you who makes the decision, and not someone else.
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Scam projects have
Poor communities
No roadmap
Plagiarism whitespaper
No exchanges listing plan
Debugging website
Sometimes scams project have rich communities, channels, telegram groups and team management with fake picture. Sometimes they joined AMA with fake face mask. So it's not easy to identify scams project.
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Scam projects have
Poor communities
No roadmap
Plagiarism whitespaper
No exchanges listing plan
Debugging website
Sometimes scams project have rich communities, channels, telegram groups and team management with fake picture. Sometimes they joined AMA with fake face mask. So it's not easy to identify scams project.
To identify scammers who are currently very well disguised, I study the project, and also communicate with competent crypto enthusiasts on this topic. You can learn a lot of interesting things from people about the projects in which you plan to invest your money, and this helps to avoid deception.
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if you find a project that is a scam then at this time you will definitely find it difficult to determine whether the project is a scam or not because more and more people are providing information in this thread, the scammers can make corrections to their crimes and as much as possible to keep investors having trouble determining the project is a scam or not.
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if you find a project that is a scam then at this time you will definitely find it difficult to determine whether the project is a scam or not because more and more people are providing information in this thread, the scammers can make corrections to their crimes and as much as possible to keep investors having trouble determining the project is a scam or not.
Scammers always correction themselves because we always analysis about them ... Recently scams project have all information legit but only team management fake .... They provide their projects information , locations and office . But if you manually contract , you could easily get nothing information ...
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from what you mentioned I think it's a really scam project but you should know that at this time the scammers have started to grow and they are giving more effort to get whales or big investors to be affected and enter, once they feel they have had enough then they will shutting down the website for reasons "Maintenance"
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from what you mentioned I think it's a really scam project but you should know that at this time the scammers have started to grow and they are giving more effort to get whales or big investors to be affected and enter, once they feel they have had enough then they will shutting down the website for reasons "Maintenance"
I see no logic for scammers to leave their project on purpose if whales have invested in it. This would be obvious if small players were investors. And with the funds of whales, almost any project can be promoted to a good level.
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I see no logic for scammers to leave their project on purpose if whales have invested in it. This would be obvious if small players were investors. And with the funds of whales, almost any project can be promoted to a good level.
For a project to be promoted to a good level, you need a real project, a team, a roadmap, serious investors and much more. Therefore, it is logical that although in a scam they invest whales "the team" decide to abandon the project, they have nothing with which to continue deceiving people. Having scammed the whales and small investors, they can now just disappear and start planning their next scam.
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I see no logic for scammers to leave their project on purpose if whales have invested in it. This would be obvious if small players were investors. And with the funds of whales, almost any project can be promoted to a good level.
For a project to be promoted to a good level, you need a real project, a team, a roadmap, serious investors and much more. Therefore, it is logical that although in a scam they invest whales "the team" decide to abandon the project, they have nothing with which to continue deceiving people. Having scammed the whales and small investors, they can now just disappear and start planning their next scam.
Unfortunately, this outcome is not uncommon. I am more interested in how to distinguish such a project. After all, there are scammers who know how to make the project seem quite normal, but after the time has passed, a scam comes.
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Unfortunately, this outcome is not uncommon. I am more interested in how to distinguish such a project. After all, there are scammers who know how to make the project seem quite normal, but after the time has passed, a scam comes.
cheaters are smart people who go the wrong way. People with bad characters want to get rich quick by cheating.
I think not easy to detect scam projects
We must be careful and always learn their project and team.
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Scam projects have
Poor communities
No roadmap
Plagiarism whitespaper
No exchanges listing plan
Debugging website
Sometimes scams project have rich communities, channels, telegram groups and team management with fake picture. Sometimes they joined AMA with fake face mask. So it's not easy to identify scams project.
To identify scammers who are currently very well disguised, I study the project, and also communicate with competent crypto enthusiasts on this topic. You can learn a lot of interesting things from people about the projects in which you plan to invest your money, and this helps to avoid deception.
Now there are a huge number of projects that raise money, but in most cases they do not receive any financial support. But people, even without studying the project, are ready to invest all their money if sales take place on such a platform as a coinlist.
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Unfortunately, this outcome is not uncommon. I am more interested in how to distinguish such a project. After all, there are scammers who know how to make the project seem quite normal, but after the time has passed, a scam comes.
cheaters are smart people who go the wrong way. People with bad characters want to get rich quick by cheating.
I think not easy to detect scam projects
We must be careful and always learn their project and team.
There are a lot of scammers. Therefore, in our time we need to be very careful. Moreover, in times of crisis, scammers become more active and profit from gullible people who find themselves in a difficult situation. If you do not understand it before joining the project and do not specify who the developers are, you can get to the scammers.
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It takes some time to detect scam project for some scammers are good to hide their real black color. They will show up their bad motives if everything is ready to rug. I think to observe is important to detect them. Another way is how their partnership work. And how they are going to show their faces in ask me anything. Scammers will not show their face.
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It will be difficult for a beginner to recognize scam projects, you will need to look very hard at all the pages of social networks of this project. Also see the developers of the project, it needs to be done to protect yourself from scammers.
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I have been with the cryptocurrency industry for years though I am more of an observer rather than a very active participant. Through the years, I have so many scams in this industry as many scammers are taking advantage of the new market and a big number of people who are getting interested with cryptocurrency. Sad to say that my first coin was not actually Bitcoin but something that eventually became a scam.
With this in mind, whenever I am looking at a new project or a start-up in cryptocurrency, I look for possible red flags like the team...the more open and communicative are the team members especially in their own group chats the better the chances that they will not eventually run though of course there is always no guarantee for this.
Then I always look at Google for accusations of being a scam. And I think Reddit can be a good site for this. of course, there can also be baseless accusations or those not proven to be true just like my experience with Origin Protocol when someone accused it of just using copied WhitePaper but it eventually grow into a legit and highly valued platform.
One of the big barrier in establishing credibility of a project is the fact that our interactions are limited in the world of online...unlike if you can go to their office (if they have one) and rub some shoulders with people who are starting the project...though again this is not a 100% guarantee whatsoever.
Please share your ways and means in analyzing a project so we can avoid being scammed...again!
That highlighted section you mentioned might not really be a valid point to judge a project by. I remember back in 2017 when Cardano (ADA) was listed on Bittrex exchange, I bought quite an amount and later realize I don't know anything about the project so went to Google, most of the info I got about ADA then wasn't good, that is was a scam project and some other negative news, I quickly went and dump the coins Immediately as I made a few profits and here we are today and Cardano is one of the sorted after project.
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Now there are a lot of fraudulent projects, it is very difficult even for an experienced person to understand where is a good project and where are scammers.
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Now there are a lot of fraudulent projects, it is very difficult even for an experienced person to understand where is a good project and where are scammers.
Maybe there are several strategy to detect scam projects.
But It's really difficult to do.
Learn the White paper, roadmap, Dev team, etc
But I still get scam project.
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1. Research the Project via etherscan/bscan
2. Check the roject’s roadmap and purpose
3. Check contract audit
4. Check social media and activity
5. Check the team
6. Remember that investments are always risky.
While scammers get smarter each day, crypto users must get smarter too. Users should learn to limit avoidable losses. No doubt, more scam projects will be launched. It is the duty of crypto users to cautiously avoid scam projects and exploiters.
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Currently, in my opinion, detecting scam projects still looks difficult because sometimes the project developers at the beginning still look very responsive so that it makes investors and participants find it difficult to know if this project is a scam or not.
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Currently, in my opinion, detecting scam projects still looks difficult because sometimes the project developers at the beginning still look very responsive so that it makes investors and participants find it difficult to know if this project is a scam or not.
Proving that a project is not good or fraudulent is not an easy thing and I agree with what you said one thing to do is always be responsive at the start of the project. obviously that's not all they do for fraud they have studied well and prepared all the supporting tools well so that it is not detected, because they have studied everything well before actually jumping into a new project to cheat.
a slightly improved way is now being done by BM to prepare an escrow wallet to accommodate coins early when the project will be run so that there is a sense of trust that can be shown even though it is not guaranteed because many tricks are done to cheat, but at least there is protection from the start.
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how to avoid a scam project, I also haven't been able to find a way to avoid a scam, maybe I can carefully minimize the risk and information available
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We can actually easily detect scam projects, so that we don't fall into their traps.
See White paper, rodmap must be clear and no less important is the team from the project.
Because it is very likely that the project will be Scam if the project consists of fake teams, and that has often happened.
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Scam projects are too difficult to determine, because they are smart and good in pretending and especially they are also
good in hyping people to attract them to invest to their coins and make a lot promises to get the trust of the community then
once they hit their target, all of a sudden they will disappear, just like that.
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Scam projects are too difficult to determine, because they are smart and good in pretending and especially they are also
good in hyping people to attract them to invest to their coins and make a lot promises to get the trust of the community then
once they hit their target, all of a sudden they will disappear, just like that.
Yes, I think scammer is smart people with bad attitude.
I think It's really difficult to detect scam project, we should learn their white paper and roadmap also always follow their social media account
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As I think I already said once, there are many ways to "detect" when a project is a scam, but even so when it seems that everything is going well and the identity of the team members is public and everything seems to be in order, there are still risk. Sometimes the little details are the most important, such as a lack of technical knowledge of blockchain on the part of the developers, which is why I always ask questions like that. But we can never be totally sure that a project is 100% legit.
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Realize about the the team and founder of cryptocurrency project. First you will be aware of the scam by knowing about the project manager after that realize their rules it can be helpful for you to know regarding the scam project. But i just think that it is sometimes become difficult because there is no such evidence with the help of which you can educate yourself about scam.
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I feel it's not easy to detect a scam project at first sight basically experience teaches us which project we should join or not. Generally, I believe if the team is lethargic or we can say not active on their social media platforms and admin hardly replies on social media platform such projects should be ignored in my opinion because most probably such projects most of the time end up as failed projects or scammed projects.
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There are a lot of ways to determine whether a project is real or scam while looking at their Twitter handle and their followers the second way if by looking up their roadmap and the their way with their ido. Ico they are running a famous and trusted platform or not
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There are a lot of ways to determine whether a project is real or scam while looking at their Twitter handle and their followers the second way if by looking up their roadmap and the their way with their ido. Ico they are running a famous and trusted platform or not
Yeah, But it's not easy.
There are several scan projects that have many followers and always update their news , but remains scam.
So becareful.
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There are a lot of ways to determine whether a project is real or scam while looking at their Twitter handle and their followers the second way if by looking up their roadmap and the their way with their ido. Ico they are running a famous and trusted platform or not
Yeah, But it's not easy.
There are several scan projects that have many followers and always update their news , but remains scam.
So becareful.
You're right , not easy to detect scam projects.
Learn the White paper, It's copas or now.
See the roadmap and man behind the project
I think It's just way to detect scam projects.
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You're right , not easy to detect scam projects.
Learn the White paper, It's copas or now.
See the roadmap and man behind the project
I think It's just way to detect scam projects.
For now, there are several alternate smart contract platform, and also many scam projects.
Too easy to create tokens and new projects, I think we must be careful.
it seems difficult to detect scam projects, because be scammers always update the way or trick to scam other.
If we have good analysis and experience, I think We can detect scam project early, bit not easy.
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Scam projects in the crypto industry happen often, unfortunately. Personally, I don't trust any project until I see it become very popular over a significant period of time, and even then I am wary, frankly.
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Scam projects in the crypto industry happen often, unfortunately. Personally, I don't trust any project until I see it become very popular over a significant period of time, and even then I am wary, frankly.
I totally get what you're saying, and I used to act the same way a long time ago, until I realized something. The time that passes from when we see a project in its beginnings, until it is popular and known by many people, is the time in which the value of the coin/token rises a lot and it costs us more money to invest. If I think that this particular project (after verifying that it is not a scam) may be the right one to invest in as soon as possible, I will do it, as we already know, I think we should always accept some risks.
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It's crypto. Even the most obvious legit project can go rogue on you, any moment from now. Always keep a beady eye on their social media. Some of them that are soft rugging can be detected there
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My experience in the cryptocurrency space is also not able to distinguish projects that will be successful or not because in reality when the IDO project was successful at the beginning by raising a lot of funds but eventually rugpull too or can be said a scam, and this I saw with my own eyes on the moon January 2022.
Maybe there are other members in this forum who are experts in distinguishing projects that will become scams and rugpulls because honestly I can't tell the difference between projects that will end up being scams and this is my limitation in the cryptocurrency space.
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There's no surefire way to detect if a project is really a scam or if they're about to get serious.
All we do is in-depth analysis such as looking for their team, complete information, roadmaps and documents such as whitepapers.
The important thing that I usually do is see updates on their social media, whether they are actually running a project or just a public sale.
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To be honest, nowadays, detecting a scam project in this industry was to difficult to find. And I think this one will always be a part of this business where money is also a part of it. But sometimes in the whitepaper, there are a lot of the scammers are doing this way where they copied the WP and revised it. And the other things they are doing is that I am not pretty sure aside from copying other's WP.
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To be honest, nowadays, detecting a scam project in this industry was to difficult to find. And I think this one will always be a part of this business where money is also a part of it. But sometimes in the whitepaper, there are a lot of the scammers are doing this way where they copied the WP and revised it. And the other things they are doing is that I am not pretty sure aside from copying other's WP.
Finding matches or complete copies of a white paper is not difficult, there are many tools available that detect plagiarism in seconds. It is also important (I think I never said it) to know when the different social media profiles were created and when the project's web domain was registered, it may seem silly, but it is important data. We know that we will never be 100% sure, but we can see red flags if we investigate enough.
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Not easy to detect scam project, there are many copies of White paper.
They will create beautiful roadmap to scam investors.
I think scammers always bhave the way to scam people.
Better to learn white paper, roadmap, always follow the update news from their team.
Be careful to choose project that you will invest.
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About your third reason, I think some scam accusations are unreasonable or at least unfounded. I always listen to both sides of the argument before a decision
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About your third reason, I think some scam accusations are unreasonable or at least unfounded. I always listen to both sides of the argument before a decision
Of course, in such cases it is necessary to listen to all parties involved. I have seen projects that unfortunately have been targeted by angry investors for the simple fact of not getting rich in a few days. When there is FUD on a project but development continues, it can be due to things like the ones I've mentioned, and it is that many people do not have the necessary patience, and they should not be called investors or bounty hunters, they should be called Minions. In crypto we will never achieve anything without patience.
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It's actually difficult to detect which scam projects are currently, because now scammers are good at doing these scams.
Personally, I prefer the Bounty project which is managed by a professional manager rather than a manager who is still not very popular.
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Yes, it actually difficult to identify scam projects however, for the benefits of the doubt, one of the best ways to know if a project is scam or no, is through the identify of the project TEAM.
The best protection against this fraudulent tactic is to thoroughly research the individual team members of a project before you invest. It's a bad sign, for example, if you're unable to find any information about a particular developer or founder on LinkedIn or other social media outlets. Even if profiles do exist, check to see if their activity seems to match up with the number of followers and likes they accrue. Individuals who rarely engage with their followers and yet have thousands of fans may not be real.
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Always look out at the transparency of the team, social media presence and originality, the later meaning how their concept is non copied. Also website UI and UX are important. It's still not 100% legit though
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Nowadays it is really tough to say which new project is scam and which is Real but Definetly you can considered few Factors
1. Check if project is followed by any Exchange or any Big Reputed Memeber then it may be real but still their are many examples where Reputed person followed project scammed
2. Check their Social Medias and when they join and look for the team behind the project
3. If new project are Announcing Airdrop or asking for money to join drop and Reminding the community again and again to join the drop then it may also be scam
4. Check out their Roadmap and whitepaper it will help you to know about the project vision
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I am looking towards fundamental powerful infrastructure projects that have the support of top funds.It is important.
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Always look out at the transparency of the team, social media presence and originality, the later meaning how their concept is non copied. Also website UI and UX are important. It's still not 100% legit though
all of them are important to be explored as well as possible;
-team
-white paper
-website
-social media
to be studied and followed, even this can not guarantee that what we already know will be 100% pure can be good, I agree with my friend above.
there are many elements that sometimes we do not know and are difficult to trace properly, there will always be differences that we will not be able to know everything.
always keep believing that one day we will also experience that we will enter into a scam project.
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Always look out at the transparency of the team, social media presence and originality, the later meaning how their concept is non copied. Also website UI and UX are important. It's still not 100% legit though
Yeah, transparency is the key to detect the project is legit or not.
Because not easy to detect the project.
We know many projects are scam.
So, we should learn about white paper, roadmap and the man behind the project.
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Currently, there are many initial coin offerings (ICOs) we find, so it is a bit difficult for us to distinguish which ones are scams. but before we invest then first research the developer and administrative team behind this project, study the project Whitepaper because there is a project background in the form, project objectives, and time for the implementation of the project that is being developed.
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To detect scam projects, we can normally check their information. Such as white paper, website, and social sites. And we can also take the help of Google to check the fraud team. But in my opinion it is not that easy either. Because that's how he sees himself. Like he's confident enough. So for detection, we can only make these simple remedies a medium.
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We will see fake white paper and information at their website. Scammers are always have way to scam people.
So , I think it's really difficult to detect scam projects.
Maybe we can try to follow their update news everyday.
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Look for the website and whitepaper of project: This is the best way to ensure that the cryptocurrency you are investing in is legitimate. Every token publishes a whitepaper explaining all underlying fundamentals and technologies involved in the design of the blockchain backing that token.
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Well, the answer for this thing is difficult to find out if it is scam,because, most of the time the project arises here in the crypto space are good always at the start... Then, its too late to realize or find out in the end that the project ended into scam projects. This was always happened here and the victim most often the investors and the bounty hunters.
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Most scam project has something in common. And that is most of them is gourgeious outside but ugly inside. Most of those project just gives attractive apy and promises but when it comes to deliver something they have nothing to offer. I do not say every project is like this but most of scam project is.
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It is very easy you can easily find this. You just have to first check the reviews about it and also you should first make your own research about the the project. You should search about it and after that you can easily find the scam.
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It is very easy you can easily find this. You just have to first check the reviews about it and also you should first make your own research about the the project. You should search about it and after that you can easily find the scam.
What us said is almost right but the truth is its very difficult to detect whether a project is a scam or not especially when its a fresh project you're trying to support their development from scratch. Here's the reason, except if the project have been around for awhile and already people have investigated it over time and come to several conclusions, new projects merely have reliable reviews. IMOHO!
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What us said is almost right but the truth is its very difficult to detect whether a project is a scam or not especially when its a fresh project you're trying to support their development from scratch. Here's the reason, except if the project have been around for awhile and already people have investigated it over time and come to several conclusions, new projects merely have reliable reviews. IMOHO!
Some scams are easy to spot, but it's true that some are very hard to spot. While it is true that when we participate in a bounty we want to support the project from the beginning, making a hasty decision can play tricks on us later on, I think it is preferable to wait a few days and have a global vision of the project and the team, because during that time we could detect red flags. However, we must remember that we can never be 100% sure that a bounty is not a scam.
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You can track scam projects by managers who run bounty projects, there are fewer moshenikov projects and if such a one appears, it will be known about it on the forum.
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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
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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
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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).
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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.
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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.
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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.
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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
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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
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It's not hard to spot a fraudulent project, you can see the white paper and some of the teams behind the project.
I've searched several sources, but can't find a surefire way to avoid scams. experience is the best way and see if the contract has been audited or not by institutions such as Certik and others.
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It's not hard to spot a fraudulent project, you can see the white paper and some of the teams behind the project.
I've searched several sources, but can't find a surefire way to avoid scams. experience is the best way and see if the contract has been audited or not by institutions such as Certik and others.
The information you provide is not entirely correct. Many scammers write new white papers even though they know they won't live up to anything that's written, and they do so to build trust. Certik is not an institution, it is a company that, unlike traditional bug detection approaches, attempts to mathematically prove that blockchain ecosystems are bug free, but this doesn't really matter, Certik can prove that a contract is safe, but the team can disappear after ICO.
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Well these are signs in which you can detect if its a crypto scam
1. Quick rich scheme- There is nothing quick in this world. You always have to work hard for everything.
2. Always make sure you read the white paper of a project to ensure its worthiness. There might be projects which only make false promises on the outside and are something different on the outside
3. Meme coins- PLEASE FOR GOD SAKE DO NOT INVEST IN MEME COINS AS THEY ARE PUMP AND DUMP COINS. THESE COINS HOLD NO TRUE VALUE.
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Nowadays Scammers are very professional, they can create great projects with information that seems genuine and there is no suspicion that it is a scam. Scam projects can usually be assessed when the project campaign is about to end, they are usually convoluted when asked to send tokens. So it's very difficult to know the project is a scam or not when a new project is started.
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Even after a while, it is impossible to understand a fraudulent project or not. We have already seen this with ust and luna .
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I agree. It is difficult to detect scam projects. Although you can find out about the authenticity of a crypto project by figuring out whether or not they have support.
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It is best to stay aware by conducting background checks and research before you decide to invest, it is safer. There are and will be scammers in the market but it is all about the choices you make that will help you in your journey.
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It is best to stay aware by conducting background checks and research before you decide to invest, it is safer. There are and will be scammers in the market but it is all about the choices you make that will help you in your journey.
Scam projects, It's not easy to detect.
I think we should have analysis deeply and be careful to invest in new project.
Better invest in top coins, safer.
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It is better to invest in what has stood the test of time and what you understand
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Now it is safer to invest in old coins from the top 30 by coinmarketcap, especially since many of them fell very low in the bear market. Investing in a new project is always a risk and it is very difficult to identify a future scam.
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Now it is safer to invest in old coins from the top 30 by coinmarketcap, especially since many of them fell very low in the bear market. Investing in a new project is always a risk and it is very difficult to identify a future scam.
I agree with part of your comment, but not totally. Investing in the top 30 (or top 10) is a good idea, but not investing in new projects can make us miss out on good profit opportunities, not all new projects are scams, some (unfortunately few) are really innovative and offer new things to the industry, and those projects are the ones that can give us the most benefits. Investing is always risky, whether in the top 30 or in any coin/token with years on the market.
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detecting a scam project the first thing is project research that will be followed and who has a good team maybe in the future projects like this will rise
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fraudulent projects in the long run turn out to be both with a top team and with a huge capitalization. Nothing is eternal-nothing is perfect.
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detecting a scam project the first thing is project research that will be followed and who has a good team maybe in the future projects like this will rise
How to detect good team ? I think It's also not easy , several of them play drama and others are scammers.
Just to collect the money.
Be careful, Not easy to detect scam project
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Therefore, it is important to invest in serious infrastructure projects with investments of large funds on board. Yes, this is not a 100% guarantee, but it is very difficult to sink such a project and especially unnoticeably.
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fraudulent projects in the long run turn out to be both with a top team and with a huge capitalization. Nothing is eternal-nothing is perfect.
Thats true. Many of the strong scam projects out there are lead by influencial people that have a deep pocket, so they use their resource to stage an organized scam that are sometimes very difficult to spot any red flags. One can only try to do their due diligence but they cannot always be perfect.
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I've had the experience of falling for fraudulent projects. And I will say that it is very difficult to see the first signs of a nascent scam
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There were projects that hid their project very badly, but there are projects that are very difficult to identify at an early stage.
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Very difficult... in fact, any project that is indestructible (as many people think) today can turn out to be a scam.