Newcomers' Second Step in the Crypto World: Identifying KOL Malpractices and Fake Profit Chart Scams
Entering the crypto world, the first step is to see through advertisements, and the second step is to recognize the malpractices of KOLs and 'photo manipulation scams'. Many new investors do not lose due to market conditions, but because they 'trusted the wrong person'.
I. Fake Profit Charts
This is one of the most common and covert tricks in the crypto world.
These charts display '5 times return in 3 days' and 'earn hundreds of thousands in a day', including:
Screenshots of profit amounts (WeChat/Binance)
Contract charts showing massive profits from long/short positions
Deposit and withdrawal records + flaunting wealth images (luxury cars, balances, etc.)
II. How to Identify Photo Manipulation Scams?
Look at the details: fake images often have blurred text, misaligned layers, and discrepancies in the currency and platform; real images have complete details and are clear to verify.
Check corresponding market conditions: Compare the transaction time and price shown in the image with actual candlestick data; if they don't match, it must be fake.
Image search and comparison: Use the 'search by image' function or search keywords on various platforms to see if the image has been widely used before.
III. Identifying Malicious KOLs
Template speech: Phrases like 'insider information' and 'big player accumulating' are often preludes to scams.
Frequent changes in recommendations: Daily recommendations of new coins, never following up on old projects, and not discussing risks.
Comment section flooding: The comments are filled with 'I'm in' and 'Thank you, teacher', which seem popular but are actually filled with fake accounts posting comments.
IV. Summary of Fraud Prevention Experience
Verify screenshots against market conditions
Do not only look at images; the key is to check if the market conditions, timelines, and currencies were actually experiencing similar fluctuations at that time.
Avoid KOLs who do not disclose their wallets
Real traders are not afraid of verification. Any KOL who never discloses their wallet and only shows images is likely to be fraudulent.
Create a blacklist to avoid repeated pitfalls
Collect records of KOLs with a history of scams and avoid following or copying them again.
Cultivate independent thinking and avoid being emotionally stirred
Take a calm 3 seconds to look at the image and ask, 'Is this real or fake?' It is a hundred times more important than acting on impulse. Long-term judgment relies on rationality and logic.
Photo manipulation in the crypto world is the cheapest, but the number of scams is the highest. If you only look at screenshots and do not check the truth, you will always be a victim. Maintain a stable mindset and stay away from malicious individuals to preserve your capital and go further.
The image shows a scam KOL with 7,000 followers; can you see where the error is?