A2KSMARTMONEY

Preventing scams in the cryptocurrency Needs awareness, and education , Here are some important points to help protect yourself from crypto scams:

Educate Yourself: learn how cryptocurrencies and blockchain technology work. Familiarize yourself with the basic concepts, terminology, and common scams in the cryptocurrency space. Always stay up to date with latest developments

Research and Due Diligence: Before investing in a particular cryptocurrency or participating in an initial coin offering (ICO) or any other investment opportunity, thoroughly research the project, team members, and their track record. Look for clear documentation, transparency, and evidence of a legitimate business model.

Verify the legitimacy of the project: Check if the project has a legitimate website, secure URL , active social media presence, real people in developers team and a strong community. Look for clear documentation, and partnerships with reputable organizations. Scrutinize the team's credentials and past experiences.

Use Reputable Exchanges and Wallets: Choose reputable cryptocurrency exchanges and wallets with a strong track record , and Avoid storing large amounts of cryptocurrency on centralized exchanges and use hardware wallets for long-term storage as they are most safe way to store cryptocurrency

Protect Personal Information: Never share personal information, especially online. Avoid sharing sensitive information, such as private keys or wallet recovery phrases, with anyone. scammers may try to trick you into revealing personal information through fake websites or emails or by various social media apps

Beware of Pump-and-Dump Schemes: Be wary of schemes that artificially inflate the price of a cryptocurrency through misleading information or coordinated buying. Participating in such schemes can lead to financial losses and is often illegal, so never be greedy and always do proper research before investing in these fake pump and dumb schemes

Report Suspicious Activities: If you come across a suspected scam or fraudulent activity, report it to the relevant authorities, such as your local law enforcement agency, financial regulatory bodies, and to the cryptocurrency exchange involved

Be cautious of promises: Be skeptical of investments that promise high and guaranteed returns with little risk. If an opportunity sounds too good to be true, it probably is. Exercise caution and avoid getting caught up in the hype without proper due diligence as most of the high Return platforms are ponzi schemes

Protect your private keys: Always Keep your private keys and wallet recovery phrases secure and offline. Avoid sharing them with anyone and be cautious of online services or wallets that require you to provide your private keys.

Beware of Fake Social media influencers : Never blindly follow any influencer and always do your due diligence about every information you received as influencer may have his / her personal interest while you may be victim of a scam

Remember, prevention is crucial when it comes to cryptocurrency scams because the nature of cryptocurrency is irreversible ,By staying informed, exercising caution, and adopting security best practices, you can minimize the risks associated with scams in the cryptocurrency space.

follow me for more ...

Fellow Binancians,
As Paxos has halted minting of new BUSD, Binance will gradually cease support for BUSD products. Announcements will be released for any impacted services. Please be assured that BUSD will always be backed 1:1 by USD.
Binance will continue to support multiple stablecoins and digital assets on its platform. Users are encouraged to convert their BUSD assets into other available assets on Binance prior to February 2024. Users may trade their BUSD balances for FDUSD at zero trading fees, or convert their BUSD balances to FDUSD at 1:1 until 2023-10-31 08:00 (UTC).
Spot & Margin:
Binance will gradually delist BUSD spot and margin trading pairs. Separate delisting announcements will be released.Users can continue to trade supported assets via other stablecoin pairs and trading pairs on Binance.At 2023-09-07 06:00 (UTC), Binance will suspend BUSD borrowings on Cross Margin. From 2023-10-19 06:00 (UTC), Cross Margin and Portfolio Margin users will no longer be able to transfer in additional BUSD as new collateral to Cross Margin Wallet. Users can still transfer in other tokens as collateral.
Deposits & Withdrawals: 
Withdrawals of Binance-Peg BUSD tokens via BNB Chain, Avalanche, Polygon, Tron and Optimism networks will cease at 2023-09-07 00:00 (UTC). Deposits and withdrawals of BUSD (ERC-20) tokens via Ethereum network will continue to be supported until further notice.Deposits of Binance-Peg BUSD tokens via BNB Chain, Avalanche, Polygon, Tron and Optimism networks will be supported until further notice.
Convert:
Users can manually convert their BUSD balances to FDUSD at a 1:1 ratio using Binance Convert until 2023-10-31 08:00 (UTC). Please note that the 1:1 conversion rate is only applicable for converting BUSD to FDUSD, and not the other way around.After 2023-10-31 08:00 (UTC), users may convert their BUSD balances to FDUSD according to the market rate at Binance Convert, and vice versa.
Futures:
Binance will gradually delist BUSD-margined perpetual contracts. Separate delisting announcements will be released.Users can manually convert their BUSD balances in futures wallet to other supported futures margin assets within futures wallet via Futures Asset Conversion function.
Earn:
Simple Earn Flexible Products will stop offering BUSD subscriptions at 2023-10-13 04:00 (UTC). A separate announcement on full delisting and automatic redemptions of remaining BUSD positions will be released.Auto-Invest will discontinue BUSD plan subscriptions at 2023-09-20 02:00 (UTC). Users should modify their BUSD Auto-Invest plan settings to alternatives like FDUSD prior to this date. After 2023-09-20 02:00 (UTC), Binance will automatically update all  BUSD Auto-Invest plans to FDUSD Auto-Invest plans. Liquid Swap will gradually delist BUSD liquidity pools. Separate delisting announcements will be released.Dual Investment will support BUSD till 2023-12-31 00:00 (UTC), and any new or existing subscriptions will not be impacted. No additional Dual Investment BUSD subscriptions will be available thereafter.Flexible DeFi Staking will close all outstanding BUSD positions and return BUSD assets to users’ spot wallets, together with any accrued rewards at 2023-09-14 06:00 (UTC).
Loans:
At 2023-09-06 04:00 (UTC), BUSD will be delisted as a loanable asset from Binance Loans (Stable and Flexible Rates) and VIP Loan. Outstanding BUSD loan positions will not be impacted at this time.At 2023-09-06 04:00 (UTC), BUSD will be delisted as a collateral asset from Binance Loans (Stable and Flexible Rates). Outstanding BUSD collateral positions will not be impacted at this time.At 2023-12-13 04:00 (UTC), BUSD will be delisted as a collateral asset from VIP Loan. A separate announcement on the closure of outstanding BUSD loan and collateral positions will be released.
Gift Card:
Binance Gift Card will delist BUSD at 2023-09-30 02:00 (UTC).All BUSD Gift Cards created before 2023-09-30 02:00 (UTC) can still be redeemed until further notice. To avoid any inconvenience, users are advised to redeem Gift Cards containing BUSD tokens in advance, and minters are advised to sell Gift Cards containing BUSD tokens in advance.
Pay: 
At 2023-09-30 02:00 (UTC), BUSD will be deactivated as an order currency within Binance Pay Merchant Service.All existing BUSD orders made before 2023-09-30 02:00 (UTC) can still be refunded to the customers in BUSD until further notice.
Note: Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
Thanks for your support!
Binance Team
2023-08-31
Note: This announcement was updated on 2023-10-31 to clarify that after 2023-10-31 08:00 (UTC), users may convert their BUSD balances to FDUSD according to the market rate at Binance Convert, and vice versa. It was previously updated on 2023-09-15 to amend the discontinuation date of BUSD Auto-Invest plan subscriptions from 2023-09-15 02:00 (UTC) to 2023-09-20 02:00 (UTC), and on 2023-08-31 to add details on Binance-Peg BUSD deposits and withdrawals via Optimism network.

Dr Abrar A Khan Sunday 20 Aug 2023

Cryptocurrency Ponzi schemes involve promising high returns on investments while using funds from new investors to pay returns to earlier investors. These schemes are fraudulent and unsustainable, ultimately collapsing when there are not enough new investors to cover the promised returns. It's important to be cautious and do thorough research before investing in any cryptocurrency project.

a2ksmartmoney published an artical earlier on 8 july 2013
https://www.binance.com/en/feed/post/755500

and alerting innicent investors about the MTFE Scam

many mtfe users wrote hate comments and abuses but reality can not be hidden for ling time

now mtfe is completely disappeared resulting in estyimated loss of over a billion $

To determine if a cryptocurrency project or investment opportunity is a potential scam, consider the following steps:

1. **Research the Team:** Look into the background and qualifications of the team members behind the project. Legitimate projects often have experienced and transparent teams.

2. **Whitepaper Analysis:** Review the project's whitepaper, which outlines its goals, technology, and plans. Look for technical details, feasibility, and a clear explanation of how the project aims to solve a real-world problem.

3. **Regulatory Compliance:** Verify if the project complies with local regulations and legal requirements. If it doesn't, it might be risky or even illegal.

4. **Lack of Real-World Use:** Be cautious if the project lacks a clear use case or practical application for its cryptocurrency.

5. **Promises of Guaranteed Returns:** Be skeptical of projects that promise guaranteed high returns on investments. Legitimate investments always carry risks, and such claims are often too good to be true.

6. **Unsolicited Offers:** Be cautious if you receive unsolicited investment offers through email, social media, or other channels. Scammers often use these tactics.

7. **Token Distribution:** Understand how the tokens are distributed and how the project plans to use the funds raised from the token sale. Be wary of projects with unclear token distribution plans.

8. **Third-Party Reviews:** Look for independent reviews from reputable sources in the cryptocurrency industry. These reviews can provide insights into the legitimacy of the project.

9. **Check for Red Flags:** Watch out for red flags such as lack of transparency, pressure to invest quickly, and overly complex or confusing business models.

10. **Trust Your Instincts:** If something seems too good to be true or feels off, trust your instincts and proceed with caution or avoid altogether. Remember that even after careful research, scams can be sophisticated and convincing. Stay informed, exercise caution, and prioritize your security when dealing with any cryptocurrency-related opportunities.

Thanks

MTFE, or Metaverse Foreign Exchange Group, is an offshore forex broker that is not licensed and therefore a risk to investors. The broker claims to be located in Canada and is regulated by FINTRAC, but FINTRAC is not the regulator in Canada

MTFE is Operating AI Trading Based Investment Business in Many countries since recent times and offers high investment Returns on AI Trading

it also offer great commission for referrals which has scaled its speedy growth

most people do not perform proper due diligence before making investment

as of now MTFE has shut down all withdrawals claiming Concerns with KYC System and investors are in panic now

investors must do proper research and due diligence before investment in fake companies

To determine whether a company is legal or a scam, it's advisable to conduct thorough research and consider the following steps:

Research the company: Look for information about the company's background, registration, licenses, and any official documentation available. Check if it is listed on legitimate financial regulatory websites.

Check for red flags: Look for any warning signs such as high-pressure sales tactics, guaranteed profits, unrealistic returns, lack of transparency, or negative reviews and complaints from other investors or customers.

Verify contact information: Ensure the company has valid contact information, including a physical address and phone number. Scammers often use fake or untraceable contact details.

Seek professional advice: Consult with a financial advisor or legal professional who can provide guidance and help assess the legitimacy of the company.

Exercise caution with investments: Be skeptical of investment opportunities that promise extremely high returns with little risk. Remember the old saying, "If it sounds too good to be true, it probably is."

It's always essential to be diligent and cautious when dealing with unfamiliar companies, especially those involving financial matters

When it comes to trading in crypto , it's important to have a set of rules and guidelines to help you make informed decisions and manage your risk effectively. here are some general rules for crypto trading:

Educate Yourself: Understand the basics of blockchain technology, cryptocurrencies, and the factors that can influence their prices. Stay updated on the latest news and developments in the crypto space.

Set Clear Views : Define your trading View, whether they are short-term gains or long-term investments. Establish realistic expectations and a clear plan for achieving your objectives and do no follow any tips blindly

Plan Your Trade : Create a well-defined trading plan that outlines your strategies, entry and exit points, risk tolerance, and position sizing. Stick to your plan and avoid making impulsive decisions based on emotions.

Risk Management: Implement risk management strategies, such as setting stop-loss orders and profit targets, to protect your capital and limit potential losses. Diversify your portfolio to reduce exposure to any single cryptocurrency.

Use Reliable Exchanges: Trade on reputable and secure cryptocurrency exchanges that have a strong track record of user security. Research the exchange's reputation, liquidity, fees, and available trading pairs before trading.

Stay Secure : Safeguard your crypto assets by using secure wallets, enabling two-factor authentication (2FA), and following best practices for cybersecurity. Be cautious of phishing attempts and avoid sharing sensitive information.

Don't go Big: If you're new to trading, begin with a small amount of capital and gradually increase it as you gain experience and confidence. Avoid risking more than you can afford to lose.

Accept and learn Volatility: Cryptocurrency markets can be highly volatile. Be prepared for price fluctuations and avoid making impulsive decisions based on short-term market movements. Focus on long-term trends and indicators.

Be Emotionally Disciplined : Control your emotions, especially fear and greed, as they can lead to irrational decision-making. Stick to your trading plan and avoid making impulsive trades based on emotions or FOMO (fear of missing out).

Maintain Records : Maintain detailed records of your trades, including entry and exit points, profits, and losses. Analyze your trading history to identify patterns, strengths, and areas for improvement.

Remember, crypto trading involves risks, and there are no guarantees of profits. It's crucial to exercise caution, make informed decisions, and only invest what you can afford to lose.

As we know, Fintoch project, claiming "The exclusive blockchain security technology "HyBriid" allows users to enjoy true zero-risk blockchain investment" Under the name of Morgan Stanley, scammed millions of investors from all over the world.

From May 23, 2023, Fintoch stopped the withdrawal of all investors, after which it was claimed that Fintoch's own block chain has arrived and all landing borrowing contracts are now being migrated to the FTC block chain and from June 1st 2023 and the entire system will be back in place. and everyone will get withdrawal But there was nothing like that, it was just a lie!

Fintoch converted all investors money into a meaningless cash voucher without any investor's permission and investors were forcefully subscribed to the node.

Investors were told that Fintoch's block chain would come and the native token would be FTC and FTC would be mined. Whose reward will be given to everyone and everyone will be able to swap that reward

Despite doing such a big scam, Fintoch is continuously rotating investors with different types of temptations.

According to technical data, FINTOCH has not yet launched any block chain and Fintoch has also created its own native token FTC on BSC SMARTCHAIN of which the contract address is 0x4C3145CB6285eb269c37685e05Ff8C6684A70eC7

The initial score of this FTC Token was just 45/100 on Token sniffer, which has now further reduced to 25/100.

Common investor needs to understand that when any investor goes to swap FTC mining reward, he/she will get USDT by giving FTC

Whatever FTC reward is being generated, sufficient liquidity is required to swap it

USDT can be received only when sufficient liquidity is inserted in FTC Token and Fintoch is now asking its common investors to deposit this liquid into the system That means it is clear that Fintoch's FTC TOKEN is just a scam token which does not have enough liquidity and Fintoch is forcing its own investors to deposit liquidity so mental exploitation of investors has also been started.

Fintoch might be doing all this to avoid any legal action from cyber crime enforcement agencies

The common investor should avoid such scams and understand the crypto ecosystem, because of the ignorance of the crypto ecosystem, the common investor becomes a victim of the scam.