Friday, February 23, 2024


> Hi everyone, the crypto market has always been known for its potential and pretty good returns. However, at the same time there are scams going on. It’s not too far away in this group, the admin has always warned members about scams, but there are still quite a few people who have been scammed. Hopefully through this article, I hope that those who read it will no longer lose money. The article is not heavy on knowledge, but I hope everyone will support me with a like/share, thank you <3 **I/ Common forms of scams** *1.1. Scam Exchanges* Currently, the development and expansion of the crypto market has resulted in a series of FAKE exchanges being born, and poor quality exchanges are rampant. For novice investors, it will be difficult to distinguish which floor is real and which is fake without prior knowledge and understanding. These platforms have a very professional look with accompanying mobile, desktop and website apps. Even, they copied from the current reputable exchanges and only subtly changed the name compared to the original in a sophisticated way. At first glance, users will think this is a legitimate exchange, but it is not! The employees from the fake exchange will attract investors by promising stable, “huge” profits, giving away free coins and promotional gifts. You should remember: The exchange is a market for buying and selling coins, so there will be NO official exchange that promises to make a profit for you. Don't fantasize because no meal is free! Ideally, you need to improve your knowledge in the market and learn carefully about the floor that you are about to join. *1.2. Rug Pull* The carpet pulling scam in cryptocurrencies comes from the expression “pulling the rug out”. This form is probably not too strange for brothers who specialize in hunting goods on DEX. Rugpull is a scam in the crypto market where developers abandon a project and run away with investors' money. Rug pulls often happen during DeFi, especially on decentralized exchanges (DEXs), where scammers create a token and list it on a DEX, then pair it with a top crypto. like Ethereum. After a significant number of unsuspecting investors exchange their ETH for that token, the people behind it will pull everything out of the liquidity pool, bringing the coin's price to zero. The coin's creators This can even create a temporary FOMO on Telegram, Twitter and other social media platforms and initially inject a significant amount of liquidity into their pool to nurture investor confidence. *1.3. Fake KOLs, celebrities* This is the most common form and this form is encountered by most gullible people, then they set up fake accounts of famous people in the market and post information about them. If you believe in providing free tokens, impostors will fake the nicks of famous people like Elon Musk, ... donate to this wallet, you will receive a certain gift. Most of these scams are found mainly on social networking sites. Needless to say, even in our group, there is a scam impersonating Ryan. They will create fake Telegram pages, form fake communities to run bots, hire social networking services to look like real people, then go shill with Telegram, Zalo, .., scam groups. . Their purpose is to shill worthless tokens only for buying, not selling, join the vip group, go private to the pool to seduce fees and complete the scam. *1.4. Impersonating support teams* Currently, as far as I can see, there are quite a few postings in my group that have encountered some problems such as money transfer errors, trouble with P2P trading on exchanges, so there are a lot of bad objects. watch me texting. Nominally the support team of an exchange or a project. They will go to people who are in trouble. The scammer will claim to be the support of that project. To help you solve the problem, they ask for personal information, deposit or Private Key for them to solve, but in fact "settle" the money left in everyone's wallet. *1.5. Projects with Ponzi scheme * This form of fraud can be called multi-level that we still talk about. That is, calling people to participate in the project with a certain amount of money, committing that they will receive much higher returns than savings by attracting more participants. With this form, money Last entrants will be paid as interest to first comers and at some point the model will break, leaving those at the top of the pyramid as the bearers of the risk. The most famous Ponzi scheme in cryptocurrency is Bitconnect when it has been operating for 1 year and when it was discovered to be a scam, Bitconnect's market capitalization is about 2 billion USD. However, most of the time from these ponzi projects we can take advantage of them by joining early and withdrawing early. *1.6. Fake Pools and OTC Scams* Through Telegram or Discord, fakers or even established people join a pool of Pools and showcase upcoming ICO projects. Pool participants will receive that ICO preparation token but the condition is that they have to deposit in the pool first to enjoy the benefits. However, when people deposit money, one bad day, your money will not fly. Participation in pools should be carefully considered because reputable pools will often require KYC with clear, specific regulations along with high monthly fees. With an OTC scam, the scammer will offer you to sell or buy assets directly, but the condition is to transfer money first. OTC trades are extremely risky so proceed with caution and use trusted 3rd parties as margin. Be careful because the middleman can be an accomplice of the person offering OTC trading. *1.7. Suddenly received a large amount of tokens* This is a recent scam. Accordingly, on a beautiful day, your wallet suddenly received a large amount of tokens without knowing who sent it to you. This amount can be up to tens of thousands of dollars or even millions, making many people greedy, instead of thinking about who sent or returned it, but they tried to sell them on DEX exchanges. However, when you execute orders to sell on the DEX, that's when the money in your wallet is "lost" because the scammer has set up a certain Smart Contract to get all your money. . So a seemingly beautiful day is your dark day, so remember "nothing in this world is free". *1.8. Mining Scam* This scam means something like this: The cloud platforms they market to tell investors that they can mine something like BTC with little capital. Instead of now, you have to invest in an expensive mining rig to dig coins, they will gather small investors together to mine and share profits according to the percentage of contribution. In return, investors will have to invest capital to rent their cloud mining platform, but after that, the rewards from mining are nowhere to be seen while the invested capital cannot be recovered. In fact, Cloud Mining is also used by many people, bringing good results, but it is important that investors need to learn carefully to find a reputable Cloud Mining platform. *1.9. Scam ICO * ICO is an initial sale of tokens with a limited number so that we can soon invest in the project, in order to raise funds for future development of the project. However, ICO is one of the forms of fraud that many people have been scammed. Accordingly, there are funds or individuals calling for ICO participation in a new project and are promised to increase x10 - x100. In fact, there are many successful ICO projects, but because of the increasing number of ICO crypto projects, the real fake is confusing, making it difficult for investors to distinguish. And then the money participating in the ICO can be lost if it goes to paper-only projects without real development. *1.10. Scam form “Gift”* You will often encounter this scam on Twitter, Telegram or viral news, announcements… Accordingly, users will receive a small deposit by participating. operations such as sending money to a pre-existing address. Specifically, the object will ask you to send money to a certain Bitcoin wallet address and promise you will receive a larger amount of Bitcoin. Of course, there is no bigger Bitcoin sent back! In addition, variations of this form can be more sophisticated such as asking you to send other digital cryptocurrencies such as stablecoins or altcoins such as ETH, BNB... even providing login information and private keys. **II/ Signs and ways to avoid scams** * There are a few signs that you should watch out for in the process of trading or participating in the crypto market, which are: * Admin account group group, username has signs of fake and suddenly these admins suddenly message first. * Fake account Admin suddenly calls people to transfer money to their own wallets to go to the pool, trade OTC, buy IDO… * Impersonate MLM to open and sell IMO cheaper than presale, attracting users to transfer money to someone . * Committed to high profits, this is never possible with a cryptocurrency exchange, which I have analyzed above. * Request to submit a form to fill in the Key 12 wallet, this will expose you to 12 Private Key information and get all the information in your wallet that is hoarding. * Scam through receiving rewards, giving gifts... * Scams through ICO / IEO / IDO fundraising rounds similar to real projects, collecting participants' money and disappearing. * Send links and malicious code via computers, mobile devices * Impersonate Emails from major reputable exchanges * Multi-level Ponzi, call relatives and friends to join and receive commissions * Fake Telegram group, lock the flask denunciation and chat section **III/ Some ways to avoid** * Project Admins never message users first and vice versa, they ONLY provide information of Telegram group and you will find out for yourself * Do not invest or trade crypto based on advice from someone you know online. * There is no delicious piece of cake that is easy to eat, so if a gift suddenly falls from the sky, don't rush to peel it. Don't believe social media posts promoting crypto giveaways. * NEVER share your “Private Key” with anyone, keep them in a safe place (preferably on paper and in the safest place). * Do not invest in any new crypto project if you do not understand it well * Reconsider your position because if you have no name and no marketing interest in the project, you will rarely go pool, private if there is no fraud, it is also a spray. * Projects that advertise a huge profit with a high percentage are also projects with great fraud potential. * Beware of KOLs' advertisements as they may be abetting scammers. * If there is an OTC transaction, you can contact the Admin via video call and only transfer money to the main account and must remember to choose a reputable person * Reputable exchanges always require very strict and careful security. * Do not install unknown applications or click on strange links * Do not transfer money to others to participate in ICO, IDO, go to the pool * Don't trust anyone too much in this market ➜ In fact, being scammed in the end This market is due to our lack of knowledge and too much greed, so remember there is nothing in this world for free like the teaching of a certain sage named Huan, if you equip yourself with good enough knowledge and less money. If you are greedy, no one will be able to deceive you!!-

Source: Collector



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments