When the market is as hot as it is now – meme coins skyrocketing hundreds of percent in a matter of days, many small projects showing impressive growth within a week – various scam schemes are intensively gaining momentum. I would like to familiarize readers with a typical scam scheme so that you have the ability to easily identify scams in Telegram channels and avoid falling into the hands of scammers.

🟣Social Media Recommendation

This could be a completely new group or chat, or an existing public with some history – there are many places where the scheme outlined below could be implemented.

I want to draw your attention: I do not sell advertising. Think about whether it is worth getting involved with those who are trying to monetize you?

Typical Scam Scheme:

▶️ Step 1 - Loyalty and Purchase of Coins in a Certain Network

To make you loyal to the network in which the token will be purchased, they talk to you about the great prospects of some major moments, ETH, BNB, SOL, in order for you to simply buy some of these coins. And in the meantime, they lull your vigilance.

▶️Step 2 - Funds Withdrawal to a Non-Custodial Wallet

They then tell you about the importance of storing tokens not on the exchange, but in your own wallet. Because exchanges, even the largest ones, can go bankrupt, and no one will take money from your wallet.

▶️Step 3 - Urgent Insider Information About a Low-Cap Token - Warm-up

Suddenly, a very promising token appears in the network where you just bought coins with medium-term prospects and withdrew to your wallet, for example, BNB Chain or Solana. If the channel is large enough and the scammers are experienced, there will be social media with comments and a website for the project.

They then tell you the story that the listing of this small token on some well-known exchanges is coming soon, describe funds that have invested in it, the innovative technology, and the fantastic prospects of the project.

▶️ Step 4 - Tightening the Noose

And now, the founder of the channel himself writes that he is actively investing in this token, but you can only buy it on DEX, but you already bought coins in this network not so long ago. Everything can be done quickly; they may already have a growing graph of this token, screenshots of transactions, and a token link, of course.

Again, there will be insights confirming how insanely this token will take off.

In the worst case, this token may have malicious code, and it will be impossible to sell it, or the commission for selling will be 90% of the token value, or there may be additional unlimited issuance, there are many options, actually.

🔴Result: you lose 99.9% of the funds invested in the token.

Therefore, be careful. If you really plan to trade shitcoins, build a system based on your own study of projects at an early stage and investing small amounts there. But if someone advises you to buy some small token in a DEX channel, and coincidentally, the perfect time is right now, then 98% of the time, it's a scam, and the channel is either hacked or was originally created for such purposes.

#bitcoinhalving #Megadrop #Token2049 #BullorBear #Memecoins