@TheGuy
edited
more from that month
Beware Of Scams In Crypto - BCH Towns With the increase in the hype of **Metaverse** and **NFTs**, the hype of ****Blockchain Gaming**** is also increasing. And so the rug-pulling thing. *Ah, wait where are you going, hah. You don't want to be scammed in Crypto then you have to read this lol.* **But first, let's understand what is a Rug-Pull in Crypto is?** *It is a type of Crypto scam in which a team pumps a coin or token before its release and after the launch, they simply take out the funds dumping the coin to the lowest possible value.* I talked about a new Blockchain game in my recent article named **BCH Towns** based on the **SmartBCH** chain. And this project turned out to be another rugged project. This **Play2Earn** village building simulator scammed a lot of people here. Gladly though excited for the game as it was a strategy type, I didn't invest in it due to issues in its site at the launch which alarmed me that a project just launched doesn't know how to solve simple website issues. So I stopped myself from investing in it as there was lots of confusion while staking its token. Along with the lack of lots of information which wasn't shown on its website. And there were lots of early factors which were giving me shady and red signals but as not an experienced one I tried to believe in the project lol. Lesson learned now! **Some red signals which I found in this project are:-** *After the start of launch only I noticed someone already pulling the liquidity, bruh do you see people fools. We can see every transaction here, we may not be able to track you but can see whose behind it. And only developers can take out liquidity.* *Launching the project with a very cheap sketch-like animation.* *Also I read somewhere that a similar token named Towns was rug-pulled before the launch of BCH Towns.* Their GitHub account was empty from day one before the sale. I'm surprised that scammers have become so professional nowadays in scamming people as they promoted and advertised this project in such a way that no one would say that it's a scam as they did lots of **AMA** and even answered questions confidently in their telegram group. Even I attended some of the AMA's to understand the project.
*Their website site is dead, the guy promoting is also dead for the internet. And I can't see their Telegram group also.* Final Thoughts This shows us that no matter how good a project looks always do your own research and even if you are in 1% doubt. Never invest in it. Either you may miss a good opportunity or a bad and devastating opportunity. And in Play2Earn games, the investment is very high. And it takes sometimes months to be on the profitable zone. **And so I have learnt my lesson not to have high hopes for new projects if you see flaws and red signals in them. Stay away from them.** SmartBCH chain, a sidechain of Bitcoin Cash is new and so projects like this are expected so be careful while investing guys. Never jump in seeing the hype and promotion. What I most hated about this scam case is the fact that it used BCH's name to promote itself. Oh, c'mon don't be bored. Give some time to understand the most futuristic thing for now. ***Note****:- I'm a simple newbie learner in Crypto any advice regarding this is most welcomed. And I never give any financial advice. These are just my thoughts and opinions.* *I am also on some other Platforms, Don't forget to connect with me. Noise https://noise.cash/u/TheGuy Hive https://hive.blog/@theguy18
20 comments
Thanks for this reminders my friend. This somehow helps us a lot. Scammers are rampant now in any social media. Scammers are thieves.
*Glad that i didn't jump into that project..It's really best to check out first the project before investing to avoid being fooled by those scammers. I read in twitter that 95 BCH is the amount that they have get from people, is it true?*
I believe they have. I haven't searched for the amount but they had some percentage criteria to give extra reward to those people and I think some may have invested more seeing that.
*That's the reason why many have attracted to that project. The scammers have nice strategy just to attract more people to invest in their project*
Oh my friend, how bad that this project used the name BCH. The points you made were very interesting, and knowing them helps me to be more precise in any project, and first make sure that they work properly.
That's good that you have notice the things before putting investment into it. Some people really want to scam the people by making them fool
I remember when I joined an airdrop. I bought some tokens that were on presale and then I forgot all about it when I had my labor. I checked it a few months after I gave birth, the coin didn't have any worth anymore and the website was taken down. That was a sad experience for me.
Yes most of the scams are done in airdrop in pre sale time. I myself have been scammed two-three times in pre-sale airdrop but the amount wasn't much. So not much of an issue.
Thanks for this advice. We truly need to be careful of scam, the crypto space is containing more scammers than before. I don't want to be scammed so i'll do research about a coin before investing in it, as you've said.
I heard about this.. Good thing I didn't invest in this project.. Too sad for those who invested a lot.
Yeah somehow I escaped this project. It's best now to wait a bit after the launch I guess and get the experts view first.
This is the second time I have heard about "BCH towns". I don't think I would ever be able to invest in anything crypto for now, because of cold feet. I can always rely on a reliable trader to do that for me
We must always pay attention to the red signals, do not invest until you are absolutely sure that everything is in order
It really a painful one for my master to tell me that the projected ended up as scammed I should have known but I didn't know but thanks goodness I didn't jumped on it . Nice meeting you Sir
Be wise where you want to gamble your money. These scammers are the ones destroying the reputation of crypto.
And their community will always be alive so it's best we should know how to avoid them.
Oh no! Another Rug pull. So glad I haven’t invested, cause BCH Towns looked like a game I would enjoy playing, just seemed like it came out of nowhere with already developed game, while we wait for so many projects to slowly develop.
Me too, I found the village simulator concept interesting but it came out as a disappointment.
Yeah, it looked interesting and then I clicked on a link which took me to deleted article on read.cash. Now I know what happened thanks to your article
At the end of 2018, I was "hired" by a crypto startup, along with one friend from an Eastern European country and two persons from the US. We had several video conferences and digitally signed respective contracts. They put up our names, photos, and brief professional backgrounds. After three months, the CEO vanished, and the CEO was the only point of contact. But our names were on their website! Then, my friend from Eastern Europe conveyed a "threatening" message to the CEO via someone in the US. It worked, and our names were deleted from their website. I don't want to name the company or the names of the tech personnel associated. But, their tech documentation (white papers), programming background, and associated profiles were quite good! So, these crypto startups might collect a decent amount by selling ICOs and vanish.