As cryptocurrency continues to gain popularity, more and more people are investing in various crypto projects. Unfortunately, with this rise in interest comes an increase in scams.
The biggest sign is that they do not have a good audit, not from a place that matters, like CertiK, and yes I know that it costs a lot to get that but if a project doesn't have enough money to get it, then I am sorry but I am not going to get in neither. Why would I fund their entire thing, you should be spending a few thousand dollars, even tens of thousands of dollars if you believe in it, if you do not have that money then you shouldn't make a project to begin with.
There are projects that spend a million dollars on their project, and not that rarely, they end up failing too and losing that money. But at least they tried, I could see myself funding them, they could make more or fail. But I am not funding any project that can't even afford a CertiK audit.