What is SCAM?
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SCAM - Scams have unfortunately become a common phenomenon in the cryptocurrency realm - companies that forge platforms and cryptocurrencies to attract investors, only to shut down their websites and disappear once they have managed to raise a few million dollars in capital.
Given the number of scams in the world of cryptocurrencies, this is the second biggest reason for the failure of projects - if you can say that something collapsed before it was even created. There are over 600 proven frauds and extortions in the crypto world, and if they have not been proven or even tried to prove, there are probably twice as many.
A huge wave of so-called scams came with ICO (Initial Coin Offering - raising capital by startups using cryptocurrencies.). ICO became a tool to extort money from early investors, even before work on the project began. It was enough to disguise yourself well, create "some" team, come up with "some" goal, write "some" white paper (a white paper - a report containing an analysis of a given product, service, technology or program) and naive investors bought invented cryptocurrencies in the hope of huge profits, often without even receiving these cryptocurrencies. I wrote "some" on purpose because it was often seen from a distance that it was a scam. There are even companies that offer white paper writing for a small fee.
Since the law does not keep up with technological progress, loopholes are inevitable in this case. This is the case with ICOs in most countries, with the exception of China and South Korea, where they are completely banned. Some countries, such as the US and UK, are increasing regulatory oversight of ICOs as they regulate stocks and bonds. Of the 902 cryptocurrencies created in 2017, 142 failed to raise any funds and 276 collapsed right after the fundraising. Another 113 ICOs fall into the "partially failed" category, either because the startup in question has stopped communicating on social media, or the community has shrunk to the point where it has virtually no chance of success.
SCAM - Scams have unfortunately become a common phenomenon in the cryptocurrency realm - companies that forge platforms and cryptocurrencies to attract investors, only to shut down their websites and disappear once they have managed to raise a few million dollars in capital.
Given the number of scams in the world of cryptocurrencies, this is the second biggest reason for the failure of projects - if you can say that something collapsed before it was even created. There are over 600 proven frauds and extortions in the crypto world, and if they have not been proven or even tried to prove, there are probably twice as many.
A huge wave of so-called scams came with ICO (Initial Coin Offering - raising capital by startups using cryptocurrencies.). ICO became a tool to extort money from early investors, even before work on the project began. It was enough to disguise yourself well, create "some" team, come up with "some" goal, write "some" white paper (a white paper - a report containing an analysis of a given product, service, technology or program) and naive investors bought invented cryptocurrencies in the hope of huge profits, often without even receiving these cryptocurrencies. I wrote "some" on purpose because it was often seen from a distance that it was a scam. There are even companies that offer white paper writing for a small fee.
Since the law does not keep up with technological progress, loopholes are inevitable in this case. This is the case with ICOs in most countries, with the exception of China and South Korea, where they are completely banned. Some countries, such as the US and UK, are increasing regulatory oversight of ICOs as they regulate stocks and bonds. Of the 902 cryptocurrencies created in 2017, 142 failed to raise any funds and 276 collapsed right after the fundraising. Another 113 ICOs fall into the "partially failed" category, either because the startup in question has stopped communicating on social media, or the community has shrunk to the point where it has virtually no chance of success.
Machine translated
SCAM is a term used to describe any fraudulent activity or scheme that takes money from an unsuspecting person. As the world becomes more and more connected thanks to the Internet, the number of online scams has increased. Recently, a lot of cryptocurrency SCAMs have appeared, thanks to the growing popularity of Bitcoin.
Before entering any program that offers to earn a lot of money, I advise you to read the reviews on the internet. If you can't find reviews about a given company, I advise you to just let it go. There's no point in tempting fate.
SCAM is a term used to describe any fraudulent activity or scheme that takes money from an unsuspecting person. As the world becomes more and more connected thanks to the Internet, the number of online scams has increased. Recently, a lot of cryptocurrency SCAMs have appeared, thanks to the growing popularity of Bitcoin.
Before entering any program that offers to earn a lot of money, I advise you to read the reviews on the internet. If you can't find reviews about a given company, I advise you to just let it go. There's no point in tempting fate.
Machine translated
Machine translated