🚨Fake Crypto Tokens: 🔍How to Spot
🚩 Red Flags of Fake Crypto Tokens
1. No Whitepaper or a Poorly Written One
🔺️A legitimate project always has a detailed whitepaper.
🔺️Scams often have vague, plagiarized, or missing documents.
2. Unrealistic Promises
🔺️Guaranteed high returns, “get rich quick” claims, or no-risk investing are classic scam tactics.
3. Anonymous or Fake Team Members
🔺️Lack of transparency about the team or fake LinkedIn profiles is a major warning sign.
4. No Code or Open Source Repository
🔺️Real projects often publish code on GitHub. No code = no trust.
5. No Clear Use Case
🔺️If the token doesn’t solve a real problem or lacks a clear utility, it may be a pump-and-dump scheme.
6. Low Liquidity and Volume
🔺️Scammers often fake activity with bots. Check real volume and liquidity on trusted exchanges like CoinMarketCap or CoinGecko.
7. Hard-to-Find or Unregulated Exchanges
🔺️Many fake tokens are only available on obscure exchanges or through sketchy websites.
8. Aggressive Marketing and Shilling
🔺️If influencers or bots are overhyping a coin on social media without substance, be cautious.