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Home web3.0 The 8 most common scams in the currency circle

The 8 most common scams in the currency circle

Jul 29, 2025 pm 02:42 PM
Blockchain Bitcoin Ethereum usdt currency circle exchange Mainstream coins trading platform Altcoins airdrop

The eight most common scams in the currency circle include: 1. Funding scams, promising high rebates and relying on people to maintain them, such as PlusToken swept away 20 billion US dollars; 2. False exchanges, forged platforms and manipulated data, and once frozen 3,000 user assets overnight; 3. Altcoin scams, the team pre-mined a large number of tokens and sold them, resulting in the price of the coin zero; 4. Phishing scams, stealing assets by forging storage authorization links, causing losses of more than 300 million US dollars in 2023; 5. Pig killing scams, pretending to invest "teacher" to induce transactions, and a single fraud can reach 4.3 million US dollars; 6. False airdrops, using rewards as bait to ask for "gas fees" and then stealing private keys; 7. Pyramid scheme coins, requiring payment of fees to join and develop downlines, such as Vpay's three-level distribution model; 8. Contract scams, false quantitative team promises to protect capital, and 90% eventually run away. Preventive measures include: Be alert to annualized returns exceeding 20%, exchanges that only use CoinGecko certification; query contract audit reports before investing in new coins; use hardware storage for large assets; and carefully verify the project's official social media certification. The core principle is: if the profit is too good, there will be fraud. If you don’t invest in projects that you don’t understand, the private key will never be leaked. Newcomers should start from mainstream coins such as Bitcoin and Ethereum and learn gradually. Any behavior that requires transfer or sharing of private keys must be terminated immediately.

The 8 most common scams in the currency circle - php Chinese

The 8 most common scams in the currency circle and the guide to preventing

High returns in the currency circle are accompanied by high risks, and various scams are emerging one after another. The following are 8 typical scams and precautions:

  1. Funding scams (such as PlusToken)
    Features: Promising high rebates of 1%-3% per day, and downline by attracting people. It swept away $20 billion before the collapse.

  2. False exchange method: forge trading platforms and manipulate K-line data. A fake platform once frozen 3,000 user assets overnight.

  3. Altcoin scam case: An animal coin team pre-mined 30% of the tokens, and after pulling up, the selling price of the coin returned to zero.

  4. Phishing scam data: In 2023, the loss of more than US$300 million due to phishing attacks is common, and storage authorization links are often forged.

  5. Pig killing routine: pretending to be a "teacher" to guide investment, a single fraud in a case reached USDT of 4.3 million.

  6. False airdrop trap: requiring payment of "gas fees" to be collected, but actually stealing the private key.

  7. Characteristics of pyramid scheme coins: entry fee is required, typical three-level distribution projects such as Vpay.

  8. Contract scam data: The fake quantitative team promises to protect the capital, and 90% eventually run away.

The 8 most common scams in the currency circle - php Chinese

Preventive measures:

  • More than 20% of projects should be vigilant

  • Only use CoinGecko certification exchange

  • SGD Query Contract Audit Report

  • Enable hardware storage to store large assets

  • Verify official social media certification

Important Principles:
"If it looks too good to be true, it must be a scam"
"Don't invest in areas you don't understand"
"Private key is an asset, never leaked"

It is recommended that newcomers start with mainstream coins such as Bitcoin and Ethereum, gradually learn blockchain knowledge and then expand their investment. Any act of requesting transfer or sharing of private keys shall be terminated immediately.

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