Post
Topic
Board Altcoin Discussion
Re: They want your money by all means possible
by
Pelana vreo
on 21/10/2022, 23:15:05 UTC
We are now in a era where scam devs don't care about anonymity anymore,  now they aren't willing to hide their faces, they will come out in the open, throw you some videos on YouTube and still run away with your money, if you are a newbie you need to have the following in mind when researching projects.

1. Visible team members don't mean they are scam free.
2. A audited smart contract project can still scam you.
3. Scammers can spend a lot on their website to make it look attractive just to make you invest your money.
4. High volume on the listed exchange doesn't make a project clean from going scam.

Lots of scam projects with MC under $10k usd when tokens are listed on Dex, but strangely such tokens are later by many people who want to make quick profits, I saw that because I joined a new token telegram channel, they have a lot of community and review new projects, there are a lot of projects that end in rugpull, when MC has gone above $1m usd, but some people on the channel take 2 to 5x profit from the initial price before the project actually ends up being a scam.