Why the increase of fake crypto project?

[Ezzi]

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

[Bony11]

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.

[Bony11]

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.

[Mexite]

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.

[ayatoslaw]

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.

[Fakhrulenclix]

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..

[aarif123]

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.

[vitek146]

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)

[Alcor]

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.

[viki]

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.

[pacar_tiri]

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.

[Astra]

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.

[gurunanakji777]

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.

[Jaephoenix]

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

[satpol_PP]

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.