Many people who just entered the cryptocurrency circle were attracted by the fancy propaganda of the swindler exchanges, and ended up falling into this "pig-killing scam" by accident. They may let you make a few small profits in the early stage, but when you are full of confidence and want to withdraw the money, you find that the U in your account is like a magic spell, and you can't withdraw it. What's more, some people's accounts are directly deleted without even the opportunity to appeal. It's like you go to a restaurant to eat, and after the meal you find that the bill is astronomical. You want to pay the bill but find that your wallet is gone. It's really sad!
1. T-zone Exchange, the pitfall of a fake exchange, have you ever stepped on it? First of all, let’s talk about the dreaded T-zone exchange. This is not a "special express", but an outright "scam site". Just look at the experience of the netizen below to know how bad it is. The money in the account is really just a number.
T-zone exchange directly cancelled the person’s account.
Someone was defrauded of 200,000 U and reported it to the police. Of course, there are also people who are being defrauded. They were very enthusiastic before being defrauded, but disappeared after defrauding the money.
When you are in doubt, just search. Now all kinds of things can be checked, and even intelligent AI can be used to answer you. But you are still foolishly going to a fake exchange.
2. Behind the frequent exchanges running away in the cryptocurrency circle In the eyes of ordinary investors, institutions related to "exchanges" should be relatively authoritative. This may be influenced by traditional stock trading. In the stock market, the exchange is a matchmaking place, not for individuals, and users will not directly put their funds in the exchange, but will deposit them in designated custodians, which prevents the exchange from arbitrarily moving user funds.
Biduoduo runs away
Bingo Exchange Runs Away
But virtual currency trading is different. Because the industry is still in its early stages, there is a lack of sufficient supervision, and the underlying infrastructure of the trading industry is not yet perfect. The exchange alone has assumed all the roles in traditional stock trading. From registration (equivalent to account opening) to deposit, and then to later transactions, all links are completed in the exchange, resulting in the exchange having supreme power. And its special status has also made many lawless elements have crooked ideas, and they have been running for money from the beginning. Moreover, now the country does not support virtual currency trading, so exchanges cannot be registered in China, but must be registered abroad, which invisibly helps these scammers a lot. Once they run away to a foreign country, even if the victim calls the police, the relevant case handlers are out of reach and it is difficult to bring them to justice. This makes many scammers fearless. Therefore, for investors in the currency circle, the way to avoid risks is not to go to small, unreliable exchanges, because you will face the risk of assets being instantly cleared. 3. The four routines of wild chicken exchanges So, how do these wild chicken exchanges set traps? I have summarized the four routines, let's take a look at them one by one:
Send, send, send, I’ll trap you without negotiation
It sounds tempting to give you platform coins as soon as you register. But don’t be too happy too soon. These platform coins can often only be traded in their exchanges, and to unlock the trading function, you have to complete a bunch of complicated tasks, and even need to recharge more digital currency. It’s like you go to a free tasting event, but after eating, you find out that you have to pay a high membership fee to continue to enjoy the discount. Isn’t it a rip-off? Super high financial returns, luring you in
"Lock up for a month and double your income!" Such advertising slogans sound very exciting. But please remember, there is no free lunch in the world. These super high financial returns are often only calculated using platform coins, and there are various restrictions on withdrawals. The real money you invested may just go down the drain. It's like you are invited to an investment lecture, and the lecturer promises you high returns, but after you buy the product, you find that you can't cash it out at all. Be the first to launch pyramid scheme coins and reap the benefits.
MLM coins are a major cancer in the cryptocurrency world. They often have no actual value and rely entirely on recruiting people to maintain their prices. In order to attract traffic, swindler exchanges will rush to list these MLM coins. Once you buy them, you are likely to fall into an endless decline. It's like you were pulled into a MLM organization by a friend, thinking you could make a lot of money, but you ended up getting deeper and deeper into it. Hacker attacks, excuses for running away
When the fake exchanges have cut the leeks and want to run away, hacker attacks become their best excuse. They will announce that the platform has been hacked and needs maintenance, and then disappear quietly. It's like you go to a newly opened restaurant for dinner, but halfway through the meal you find out that the store has closed down and you haven't even settled the bill. 4. How to avoid fake exchanges? Having said so much, do you have a deeper understanding of fake exchanges? So, how can we avoid these traps? I have a few suggestions: Choose a well-known exchange
It is recommended to choose several leading exchanges that have a good reputation and stable operating record in the industry. Choosing such an exchange can greatly reduce the risk of being deceived. Experience the service yourself
Before choosing an exchange, you might as well register an account and experience the platform's service level yourself. From recharge, buying, selling to withdrawal, try every step to see if it goes smoothly. Check the funding background and operating time
Understanding the exchange's funding background and the length of time it has been operating stably is also an important basis for judging whether it is reliable. Exchanges that have just been established and whose funding background is unclear must be treated with caution. Stay vigilant and don't be greedy for small profits.
Remember this sentence: "There is no such thing as a free lunch." Exchanges that advertise too much and promise high returns are often traps. Only by staying vigilant and not being petty can you protect your wallet. Fake exchanges are just like pyramid schemes and air coins. You want high returns, but they want your principal.
