The cryptocurrency world is full of opportunities and traps. Everyone who has been in the cryptocurrency world for a long time has been cheated or ripped off. If you haven't been cheated, I can only say that you haven't encountered a trap set up specifically for you, or you just entered the cryptocurrency world and haven't had time to experience it. As an old investor, I think I should stand up and talk about some of the traps you may encounter in the future.
I have talked about many junk exchanges before, such as Jubi, Biqu, Biyi, Clippers, Suke, and Camel. These exchanges are like a black Silk Road. The methods are basically the same, either not allowing withdrawals or risk control accounts for no reason. Even if you contact customer service, they say basically the same thing, such as that they have handed it over to the exclusive customer service to follow up, so you can wait with peace of mind. If you delay again and again, your real money will go down the drain. It can be said that these exchanges are fraud platforms. Not only do they cheat the platform themselves, but they also often join forces with a group of OTC merchants to let these OTCs help divert novice retail investors to their own exchanges, and then lure novice investors to open contracts. By manipulating the background or a hundred times high leverage, they finally complete the harvest.
These exchanges not only take the losses of customers, but also earn high transaction fees, and they make a lot of money. Friends in the group said that they were either lured into the scam by OTC dogs, or led into the scam by accounts on some small video platforms. Moreover, these people will let you see the ranking of the exchange on non-small accounts and introduce how amazing the exchange is in the global ranking, how compliant the platform's overseas registration license is, and how the daily trading volume is hundreds of billions. The newbies were stunned and soon fainted, and finally fell into the trap and became their ATM.
Here I want to remind everyone that you should never believe those netizens who brag to you that they can take you to a certain exchange to open orders and make a lot of money, because you are the big money in their eyes.