Hello, brothers and sisters in the cryptocurrency circle, friends! 👋 I'm Xingchen. Today we won't talk about the market or projects; let's discuss something more important—"avoiding pitfalls!" After all, in the cryptocurrency world, preserving your capital is the king's way. Not making money is temporary, but losing everything is really "Game Over."
Telegram, as the "lawless land" and information hub for us in the cryptocurrency circle, is almost an essential tool for everyone. However, at the same time, it has also become a "VIP hall" for scammers, with various new and old scams emerging endlessly, making it hard to guard against. Many people, with just one mistake, are "harvested" and even lose everything.
Today, I will expose all the common Telegram scams, revealing the most prevalent tricks. Upon seeing these messages, don’t hesitate; directly blacklist + report them all!
Scam one: Impersonating "official personnel" or "big V" to privately message you 🕵️♂️
This is the most classic and common scam. You just joined a popular project group, and immediately someone with the same avatar and nickname as the administrator will private message you.
Classic line: "Hello, I am the administrator/customer service of XX group. I detected risks with your wallet and need to perform a security verification."
Classic line: "Congratulations, you have become a lucky user of our community. I can privately give you a private placement quota."
Classic line: "I am the assistant of XX big V. We have an internal trading group that guarantees profit. Would you like to know more?"
Remember! Real project administrators and well-known KOLs (Key Opinion Leaders) rarely initiate private chats with you! Their main communication channels are in public groups. Anyone who privately messages you asking for your private key, mnemonic phrase, authorization wallet, or sends you links to click on is 99.99% a scammer!
Scam avoidance guide:
Turn off strangers' private chat permissions: In Telegram's "Privacy and Security" settings, set "Who can message me" to "My contacts."
Verify identity repeatedly: If you really need to communicate with the administrator, please publicly @ him in the group, or confirm through the official contact information in the group announcement.
Protect your "keys": Private keys and mnemonic phrases are the only proof of your assets; never give them to anyone! 🔑
Scam two: The temptation of "arbitrage" and "smart contract mining" 💸
This type of scam usually creates an illusion of discovering a "wealth code," making you feel that it's a money-making opportunity brought by an "information gap."
Common forms: Scammers will send you a so-called "arbitrage tutorial," telling you that a certain token has a huge price difference between two exchanges. However, they will provide a fake exchange link, and once you deposit coins, you won't be able to withdraw them.
Upgrade strategy: Using the guise of "smart contract authorization" or "liquidity mining," they will get you to transfer assets to a "mining pool" address they control. Initially, you might receive a small profit as bait, but once you invest a large amount, they will immediately abscond with the money.
Remember! Money doesn't fall from the sky, and there won't be "risk-free arbitrage" USDT. In the DeFi world, code is law, but the "code" you see may very well be a one-way ticket to hell.
Scam avoidance guide:
Do not click on unclear links: Do not click on any links sent by strangers, especially those claiming to be "new wallet versions," "DApp authorization," or "exchange websites."
Be cautious with wallet authorizations: Before performing any wallet authorization operations, make sure to clearly understand what permissions you are granting. Treat unfamiliar projects as high-risk.
Choose official channels: Please perform all operations through the official website, official Twitter, or links in the announcements of the official Telegram group.
Scam three: Fake airdrops and "free lunches" 🎁
Who doesn't want free airdrops? Scammers exploit this psychology.
Common forms: Create a channel highly similar to a well-known project and publish false airdrop information. They will ask you to send a small amount of ETH or BNB to a certain address as a "Gas fee" or "verification fee," promising to return you hundreds or thousands of times the tokens.
Confusing operations: Sometimes scammers will first airdrop some worthless fake coins to your wallet, then guide you to a phishing website for "authorization" or "trading." Once you authorize, your real money will be stolen instantly.
Remember! The real project team airdrop usually only requires your wallet address and will never ask you to transfer money or provide a private key first. Anything that requires you to "pay" to get something "free" is a trap.
Scam avoidance guide:
Pay attention to official announcements: all airdrop information is based on the project's official Twitter, Discord, and Telegram announcements.
Zero-cost principle: Remember, the vast majority of airdrops are free. Anyone asking you to pay first should be blacklisted.
Create an observation wallet: You can use a wallet address that doesn’t hold assets to participate in various "possible" airdrop activities, while your main wallet must remain clean.
Scam four: "PUMP & DUMP" pump and dump groups 📈📉
These groups usually claim to have "hundred times coins" and "inside information" to attract many investors eager to get rich overnight.
Operational process:
Build a group to attract followers: Use various channels to pull people into the group, claiming to have insider information and about to pump a certain low-market-cap token.
Collective shouting: At a predetermined time, the group owner will announce the token name and call for everyone to buy in, creating the illusion of a "PUMP."
The big player dumps: After the price is pushed up by the enthusiasm of group members, the group owner and "core members" who have already set up ambush will immediately "DUMP," leaving you standing at a high position, confused.
Remember! In this game, you are the "fuel" being harvested. When you think you are the hunter, you have actually already become someone else's prey.
Scam avoidance guide:
Reject the "get-rich-quick myth": Do not believe in any so-called "inside information trading groups"; value investing and in-depth research are the long-term strategy.
Stay away from junk coins: For those projects that only launch on unknown small exchanges, have unverified code, and whose community enthusiasm is fake, definitely keep your distance.
Summary: Survival rules in the cryptocurrency circle 🛡️
In this mixed environment of Telegram, we must always stay vigilant. Finally, here are a few ultimate survival rules:
There is no free lunch: Maintain 120% skepticism towards any promise of "high returns, zero risk."
Private keys and mnemonic phrases are life: Whoever asks you for them is a scammer.
Do not listen, do not believe, do not transfer money: this is the universal rule for dealing with all scams.
Official channels are the only standard: all information is based on the project's official announcements.
Enhance self-awareness: constantly learn and improve your understanding of the industry; this is the best "anti-scam insurance."
I hope today's sharing can help everyone, especially newcomers navigating the cryptocurrency world. If you find the content useful, feel free to like, comment, and share! Your support is my greatest motivation for continued creation! 💪
I wish everyone can make a fortune in the bull market while perfectly avoiding all traps! See you next time! 🚀
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