Quote from: Moeda on Today at 10:27:44 PM

Quote from: JangoUnchained on October 20, 2021, 05:56:26 PM

Reflection, Burn and swap is very common in new meme coins nowadays, almost all new tokens are meme coin judging from new listed coins on coinmarketcap, I'm just trying to warn newbies who believed that they can still make insane profits from meme coins, I'm not saying it's impossible I'm just saying we have many fake meme coins out there now, they are just copying the likes of shiba inu and few others

That's actually what we are worried about, many fake tokens circulating in swap exchanges only use the names of tokens that are already popular. They will say that the token will increase by 100x to 1000x in the near future. They are targeting new people investing in crypto. And this also happened in 2017 and 2018. There is no information about their site. In 2017 and 2018 they took advantage of the ICO line, because ICOs were very popular at that time.

Scammers have found various ways like creating new accounts at telegram with the name of projects that are going to launch, and send messages immediately at the time of launch with a contract address inside. If someone who has not read the official Ann channel or didn't even go to their official chat, immediately copies the contract address of that message (without even realising that it was a message and not an Announcement channel), and buys the coins from that contract, is left no choice but to forget about his money because the scammer not only takes his (the victim's) coins but as he's the one with almost 100% liquidity, immediately dumps the coin's value and takes away all the money. Be careful and highly aware while going to telegram and reading such messages because it takes only one decision for you to become the scammer's next big fish.