Why the increase of fake crypto project?

[Duckenth]

It seems that this cannot be avoided, because there are no strong rules in this Cryptocurrency. Everyone is free to create new Crypto projects, and there is no permit because Cryptocurrency cannot be regulated by legal entities. We have to be careful not to fall into their trap.

[Quantum X]

Yes. There is nothing we can do to stop such kind of actions in crypto space. The only thing we can do is to avoid it as much as possible by researching all the information of a project you want to be part of.

[UNIVERSE]

Crypto market is based on the digital era technology, ANd with this, we don't know the exact team is real people or fake account that seems to be such identity. IN this case, the chance to scam people is much higher if it is by only. That is why we must be careful. I always say that never only follow the Fomo or invest in the very legit investment with big rewards because it is risky and also strange

[Alter]

I think the fake projects didn't increase much again. The Defi era isn't very hype nowadays and people already know the signs of fake projects, they are getting smarter and more selective. So, we don't be worry about the increase of fake projects anymore. However, we must be careful if we want to jon new projects.

[Falcon]

If the world does not have bad guys the scam issues will instantly end. As long as there are bad people in the world the scam project will always in crypto. Scammers goal is to steal the money of others. They are the group of people who wants to become rich in quickly way. Not good.

[pelana vreo]

DeFi project situation led to many new projects being built on the ethereum network, maybe we see the project fail and do not get support from investors, then the developers leave the project.
I haven't seen fake projects in 2021, hopefully fake projects will continue to decrease, because there are many new investors who are interested in cryptocurrency projects

[tsakf]

It seems that this cannot be avoided, because there are no strong rules in this Cryptocurrency. Everyone is free to create new Crypto projects, and there is no permit because Cryptocurrency cannot be regulated by legal entities. We have to be careful not to fall into their trap.

Very well said. Anyone can start a crypto project. Although, making it succed, is not a task for anyone. That's why there we see many failures.

[gunhell16]

What can we say is the main reason behind the sudden increase in fake and scam cryptocurrency project I don't know you have been encountered so many airdrop channels were alot of crypto airdrop are been listed and they are succeeding on daily basis and nothing has been done about it, the more the crypto market is growing the more fake and scam coins are growing,is it that nothing can be done to stop scam coins?

It is because simply, the numbers of gullible people who are lack knowledge and skills about cryptocurrency are also increasing in numbers to become one of the victims of the scammers. This might be one of the reasons why also the scammers have the guts to scam others.

[ayatoslaw]

DeFi project situation led to many new projects being built on the ethereum network, maybe we see the project fail and do not get support from investors, then the developers leave the project.
I haven't seen fake projects in 2021, hopefully fake projects will continue to decrease, because there are many new investors who are interested in cryptocurrency projects

I agree with you, the DeFi project is an important reason for crypto development in 2021, and it's impacting ethereum.
But who knows the future, a legit project today may not be legit in a few years, staying alert and following the progress of the project is a good decision. And when you see a project that hasn't progressed for a few months you can leave it.

[Callisto]

Unfortunately, this will always be the case, scam projects are growing like mushrooms. You can only by analyzing not enter these scam projects and not waste your time, and also if you understand that this is a scam, it is better to tell everyone about it so that the rest are not included in it.

[Ronald]

Not only scam projects are coming in crypto, but also have lot of good projects. Scam projects are very difficult to detect at first but later on it can be identified. However, everyone should be more aware of this. If the participants are careful, they will not be able to survive.

[Thymoty]

It seems that this cannot be avoided, because there are no strong rules in this Cryptocurrency. Everyone is free to create new Crypto projects, and there is no permit because Cryptocurrency cannot be regulated by legal entities. We have to be careful not to fall into their trap.

In my opinion, this could be avoided, if only we (the crypto community) had a platform where we could submit and review crypto projects circulating in the market. I know crypto developers have developed platforms like this several times, but most of them are centralized platforms, what we need is a decentralized platform, where crypto-enthusiasts can join in and give their assessment of ICO / IEO projects or similar platforms.

[Max Way]

is it that nothing can be done to stop scam coins?

Be more careful in choosing a project, try to analyze it in detail especially when you find a project that gives a bonus that doesn't make sense. It can be said that lately there have been more new projects that have resulted in scams, thus making the crypto's image vulnerable to becoming worse.

[EthereumDev_]

because many scams want to get a lot of cryptocurrency in an instant way and they think that the cryptocurrency project they created can give money quickly and will not deal with prison and roam free.

[vitek146]

Where there is a lot of money, there will always be those who want to make money on it by deceiving and misleading with empty promises and fake predictions. In my opinion, about 40% of all new projects are those that are created to raise funds, the more they have time for the time being they will not be figured out all the better for them. But unfortunately not only investors who invest their money suffer from them, but also bounty hunters who lose their work. And they are becoming smarter and smarter in ways of deception and disguise as real projects with an open team ...