The “ShibArmy Scam Alerts” account on social media platform In particular, the post refers to crypto scams. However, the post wasn’t talking about rug-pulling or phishing links; Those are pretty obvious types of scams, the tweet said.
The “ShibArmy Scam Alerts” account on social media platform In particular, the post refers to crypto scams. However, the post wasn’t talking about rug-pulling or phishing links; Those are pretty obvious types of scams, the tweet said.
Rather, he was referring to fraudulent projects that take money from inexperienced investors through misleading advertising. The tweet contains a list of recommendations that must be followed to avoid falling into this type of fraudulent activities.
This is how not to get fooled by Shibarium-based scammers
The “ShibArmy Scam Alerts” account emphasizes that it is important, above all, to be well informed. This means, as they say within the cryptocurrency community, that one should DYOR, an acronym that means “do your own research.” This has to include reading the project whitepaper and understanding the facts about the cryptocurrency assets you are purchasing: the size of the total supply, whether the contract is being waived, whether data on the development team can be found on line, your reputation. However, if developers are “misled,” the tweet says, “that’s often not the real reason to feel safe,” as this data can be falsified.
Additionally, “ShibArmy Scam Alerts” recommends carefully checking what media articles say about the project in question and whether these articles are sponsored by the project. So the anti-scam account recommends, of course, checking if the project has adequate support and if the Discord/Telegram groups are full of real people talking about it and exchanging opinions about it instead of just advertising.
If investors buy cryptocurrencies, the tweet states, without DYOR, this means they will take responsibility.
It also reminds the cryptocurrency community that once a bull run begins (and many expect one soon), token prices can go parabolic for no visible and apparent reason and then fall for no reason at all, which may seem mysterious to beginners. in the market.
Still, one can avoid being scammed if they always do proper research and constantly learn new facts about their chosen investment projects.