It has become a common practice to launch an ethereum token and just dump it .
A new token and a new airdrop is being done every day. A new project is launched, then airdropped. A telegram group is created where all sort of big promises are made. Every one is asked to make donations or buy the coins on etherdelta to support the project and raise the price and when dev feels he just dumps all the remaining coins and vanish.
I just can't forget that evening , when I was having discussion with ethergold dev in their discord group, he made so many promises and I went ahead and bought 1 eth worth coins. Next day morning when I wake up , everything was gone. There was no website, no discord .
Now these guys have started a new thing, they ask for 0.01 or 0.001 eth donation for donation. They call it anti scam check.
Even though the B2X was called off that day, a B2X on ether was launched .
Is there a way to stop this. Can we take any legal action?
If someone takes a legal action against one of these I think it would set an example and this might stop. But I know it will not be easy as there are countries which have no or very week cyber laws. But still I want to do something about this. Lot of newbies get burned due to this. Its bringing bad name to crypto too.
Get used to it and this cycle would really continue as long there are fools who do easily fall for these promises and same thing as you experienced i experience it too which do really sucks and really a waste of money.This is why we should really be careful on selecting potential ones rather than on doing random putting up money on some newly launched airdrops. Sweet promises of devs are common to lure in new investors but the main agenda here is that they would really dump all of their coins once they do accumulate enough to get from its people.