Quote from: Text on Today at 04:39:56 AM

Quote from: K_vin on February 19, 2025, 05:31:33 PM

Honestly newbies are the most vulnerable to this

The really bad thing is that these scams also keep evolving making it difficult for newcomers to differentiate between legitimate projects and Ponzi schemes. Education and understanding how blockchain works as well as recognising red flags are essential to avoiding financial losses. We shouldn’t just rely on regulations because scammers will always find ways to exploit loopholes. Our best defence is to stay cautious and use only trusted platforms.

But the pattern is still the same, i.e. too good to be true offers, high yield returns, and that is already a red flag. And it's not just applicable for crypto, we have seen throughout mankind's history on how this is run and so people should be aware of already. Perhaps it was just that crypto is really new for some and they could have been brainwashed by this scammers that somewhat they are going to get good returns in just couple of month. Many of us could still remember the Bitcoin doubler scam around 2015-2017 wherein it was really prevalent and many of us here might fallen for it (including myself). And it's true, out best weapon on this kind of attack are self education and only trust platforms that have build their reputation already in the crypto space.