Someone has been scammed again! Brothers, what pitfalls should we pay attention to when playing in the primary market?

Brothers, a friend just added me in a hurry, anxiously asking: "Why can't I sell the coins I bought earlier?" At first, I thought it was one of those obviously fraudulent 'Pichu coins', but upon checking, it wasn't a clearly fake coin. This brother just blindly bought it; it could be sold before but now it has gone to zero, and he's quite worried, even asking me if he could report it to the police to get his money back. I told him the truth, there’s basically no hope.

In the primary market, this kind of thing is too common. There are many bad people messing around in virtual currency. Either you buy completely useless fake coins, or the project team directly runs away, and you can’t find anyone. There’s also the possibility of being secretly restricted from trading in the background, falling into a carefully set up scam, and losing all your money. So if everyone wants to buy coins in the primary market, they must be cautious! Before buying, take a look at the project’s introduction (white paper), official website, see what reliable media say about this coin, ask about the situation in relevant groups, or consult knowledgeable people to clarify the situation of the team that issued this coin.

Those who get scammed, whether they lose a lot or a little, mostly can’t get their money back by reporting it to the police. Why? Because virtual currency transactions are not well protected by law, and it’s too difficult to trace. So we need to be careful ourselves, don’t always think about getting rich quickly, don’t be too greedy, keep your eyes open, and think it through more.

The primary market can make money, but there are also many scammers! Investment is risky; everyone must be cautious and don’t throw your money in easily.

Oh, by the way, Dao Ge has been studying the Musk concept of ρꪊρρⅈꫀડ for quite a while recently; it has a large community on the Ethereum chain and seems likely to rise a lot in the future. Brothers, if you’re interested, you can pay special attention to it.