Quote from: Bitcoin_Arena on April 24, 2022, 10:48:31 PM

Quote from: truestorybro on April 24, 2022, 09:16:10 PM

===== SCAM COIN ALERT =========

These developers do nothing but PoW pump-n-dump schemes.
1. They fork a coin and create a website in 5mins on wordpress
2. enlist it to Exbitron exchange / hivebeewallet and massively dump it
3. Developers disappear
4. Create a new coin

Hey, could you please share more details on how the scam is carried out, especially past forked coins that have undergone the same cycle. Might be a good thing to look into.

I also recommend you post it in the scam accusations board if you want to warn more people.
This is why I hate the altcoin section. Thousands of scam coins and tokens here.

Without going into more detail, they are using the method described above.
They fork a coin, rename it, make a low effort website - in this case extremely low effort as you can see http://stuiverpaperwallet.ga/ is just copy pasted from https://medium.com/@CrypticCash/paper-wallet-generator-for-cryptic-cash-167287dd9999

They enlist it it to a shitcoin exchange exbitron/xeggex/udon and get a few hundreds or few thousands from gullible miners. Some coins have profited them much more. Their end goal is the same; dump their premine / asic mine until it is not profitable, while at the same time already creating new coins... and then silently leaving the project, with no intention of every actually developing the block chain.