The cryptocurrency market is booming, there are many opportunities but the risks are equally great. The recent PaynetCoin case was dismantled with losses of billions of USD is a painful example: thousands of people lost all their capital by believing in fake projects, simulated exchanges, and promises of 'dreamy' interest rates of 5–9% per month.
Common points of these scams:
Fake exchanges: No license, not audited, artificially creating prices and internal trading.
Promising huge profits: Anyone who says 'high fixed profits' is trying to pick your pocket.
Using tricks to create credibility: Luxurious seminars, 'registered overseas' documents, domain names similar to large exchanges.
Ponzi scheme: Take money from new investors to pay old ones, when no new people are left → collapse.
🔑 Golden rule to avoid being 'liquidated':
Only trade on verified top-tier exchanges
For example: Binance, Coinbase, OKX — has a license, real trading volume, top security systems.Don't trust high fixed interest rates
Crypto is volatile every minute, no one can guarantee a safe profit of 5–10% per month.Verify project information
Is there a clear whitepaper?
Is there a public team and transparent operations?
Is it audited by a reputable third party?
Always check the domain name and application
Scammers often use similar domains (for example: binannce.com instead of binance.com).Protect assets with cold wallets
Do not leave all your crypto on exchanges, especially unfamiliar ones.
💬 Message to fellow traders:
Crypto does not deceive anyone, only people deceive people.
Do not let greed cloud your judgment. A wrong click can cost you a whole year of savings.