Having worked in the cryptocurrency industry for many years, I have personally experienced many scams. I would like to summarize them here to sound the alarm for those who come after me:
1. Fake exchange trap: scammers imitate the appearance of regular exchanges to trick users into depositing funds, and then refuse withdrawals or suddenly close the platform under various excuses, causing user funds to be locked. Be wary of active contacts on the Internet, especially those private chat invitations that promise high returns.
2. Counterfeit token fraud: Taking advantage of the convenience of creating tokens at low cost, scammers launch fake cryptocurrencies, exaggerate the value-added potential to attract investment, and then abscond with the funds, leaving investors with nothing. Remember, high returns are often accompanied by high risks, especially in emerging token markets.
3. Fake mining machine fraud: scammers exaggerate the performance of mining machines and promise high mining returns, but in fact the mining machines are inefficient or even unable to operate, and investors can only face losses in the end. Before investing in mining machines, be sure to verify their true performance and market feedback.
4. Crypto pyramid scheme trap: By building a multi-level reward system, users are encouraged to recruit people to obtain commissions. In essence, it is a pyramid scam, and the bottom investors suffer heavy losses. Be wary of any investment model that requires you to constantly recruit new members.
5. Fake ICO trap: scammers launch ICOs to raise funds under the guise of innovative projects, but the projects either do not exist at all or progress far below expectations, and investors' funds are wasted. Before participating in an ICO, thoroughly investigate the project background and team strength.
6. Fake community fraud: scammers pretend to be successful investors or miners, show off their earnings in the community, and induce others to buy fake cryptocurrencies. Stay rational and don't easily believe the "get rich myths" on the Internet.
7. High pledge temptation: Use high-yield pledge promises to attract investors, and once the funds are in place, set up many obstacles to prevent redemption, such as high handling fees, etc., to continue to squeeze investors' funds. Faced with abnormally high return promises, be sure to remain vigilant and choose officially recognized pledge channels.
In short, although the market is full of opportunities, it also hides risks. Investors should enhance their risk awareness, carefully evaluate each investment opportunity, choose formal channels for transactions, and avoid falling into the trap of scammers.