Have scams kind of died out due to the bear market?

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?

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10 thoughts on “Have scams kind of died out due to the bear market?”

  1. 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

  2. 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.

  3. 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.


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