Does anyone remember Bitconnect? Back then we used to hear about a new scam every other day.. Now it seems like the market has become a lot more reputable, or at least that’s the impression I’m getting. Is that a sign that the market is becoming better? Or is this purely due to my ignorance? Are there any scams that happened and I missed completely?
I help moderate this subreddit and we’ve certainly seen a sharp decrease in the number of shill posts and pump and dump schemes.
That said the total number of new DeFi projects has decreased a lot as well
scams are still there, youre just not paying attention
No… $psyop $ben and way more memecoin scams
Nope. Centralized exchanges are still operational
Depends on what type of scams you mean
Bot spams and scams on twitter are more active than ever, so are discord fishers and twitter hackers that post drainer links.
If you are talking about big scale ponzi scams, there still exist many but most die out instead of becoming large scale since capital is scracer right now.
So yes there are still many scams around but a much smaller size which will grow in the event of a bull market.
No… see collateral.network
No many scams are just being found out now due to the lack of income like FTX and other centralized failures.
Maybe not in this sub but if you check out other subs you’ll probably see a good bit of scams and rug pulls i guess!
You could say that the lack of funding has provided less incentive for scammers to capitalize on the hype. When hype dies out, so does a lot of the FOMO associated. The legitimate projects have kept their projects going, however, since they still receive funding through services provided. One thing you can do is to dyor and find a team you can trust, then follow up with their developments. I do that with Broxus, and there’s a plethora of trustworthy and reliable teams you can follow. Again, make sure you do your own research! Don’t just blindly follow someone’s advice, because most likely they have a financial incentive to shill the info they do.
Remember a lot of memes that launched recently? Most of them are scams.