Quote from: Princejebs on Today at 07:18:33 PM

Quote from: ai milestone on September 28, 2020, 04:06:11 PM

literately malfunction token. The problem is the token can only 'buy', but can't be sold. There are tricks in the selling code that only the owner (scammer) can sell. Outside people can only buy but never sell successfully. The scammers create the pairing pool using their token, then buy it to create an up-shooting curve. They will come back later to collect all ETHs leaving the garbage tokens stuck in tricked buyer's account.

Decentralizeation comes with disadvantages and that's one of the challenges we are facing. A random person can create token out of no where and list on exchange without liquidity, you can only buy but cannot sell this tokens, it's ridiculous.

They sometimes mimic token that has been listed on exchanges just to lure investors and traders to buy their fake token in returns for Ether or Usdt. The only remedy to this cause is to check smart contract on market cap and Coingecko for confirmination before proceed with any trade.

Its a classic scam that even on the ICO period, there are scammers doing it creating similar pages of the team. This time you just got to use the smartcontract address to see the right one.

This is why there is still the DIY Research before diving into it. There were new tokens that the devs are adding on Uniswap for the purpose of getting funds like ICO, it becomes logical to still learn about the project before investing and not just because there is liquidity to it on Uniswap.