There are coins that seemed promising, but behind their curtain are real scam stories. Let me reveal some of them with evidence:
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1. SHIBA INU (SHIB) – The fake billion dream
The secret:
Although it is a massive community project, a few wallets own more than 50% of the total coin.
The evidence:
In May 2021, the founder of the coin sent half of the supply to Vitalik Buterin's wallet (the founder of Ethereum), who suddenly sold a massive amount, causing the price to crash by 40% within hours.
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2. HEX – The fake loyalty system
The secret:
The coin was promoted through the idea of 'staking', but the profits did not come from real activity but from the money of newcomers.
The evidence:
In 2020, analysts discovered that the returns promised by the project were simply a transfer of new coins from the treasury to early investors... meaning there was no real investment generating profits.
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3. SafeMoon – The dark moon
The secret:
Every purchase or sale incurs a 10% fee, making small investors pay for every move.
The evidence:
In April 2021, many new investors were buying the coin, but later discovered that liquidity was manually managed by the founding team, allowing them to quickly withdraw funds and devalue the coin.
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4. Internet Computer (ICP) – The mysterious rise and fall
The secret:
At launch, most individual investors were not allowed to sell their coins, while the project team and large investors were able to sell at the highest prices.
The evidence:
In less than one month from the launch in May 2021, the price of ICP collapsed from $700 to less than $50, causing billions in losses for ordinary investors.
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5. Terra Classic (LUNC) – The financial explosion
The secret:
The system was built on linking a stable coin (UST) with an unstable supply and demand mechanism.
The evidence:
In May 2022, the UST coin lost its peg to the dollar and fell below $0.10, leading to the collapse of the accompanying LUNA coin from a price of $120 to less than $0.0001 in just one week, causing investors to lose 99.99% of their money.
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Conclusion:
For every 'shiny' coin, there is a hidden story.
Do not trust the hype, always look for the project's background, team, distribution ratio, and liquidity size.
Remember:
The secret in crypto is not to make quick profits, but to know how to protect yourself from the traps of quick losses!
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We will talk about them in detail in upcoming articles, and stay tuned for the next installment of the rest of the fraudulent coin list!
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