BlockDAG Network is suspected of being a fraudulent cryptocurrency project and misappropriating investments.
This project has been in presale for over 1.5 years but has not officially ended, and is accused of transferring investment money to many exchange accounts and creating fake data to confuse the market, attracting individual investors.
MAIN CONTENT
BlockDAG Network is suspected of being a scam project after more than 1.5 years in presale.
The project is suspected of transferring investment money to many accounts on different exchanges.
Using fake data to create market panic, attracting funds from individual investors.
How does BlockDAG Network operate and are there any unusual signs?
BlockDAG Network has been selling tokens in the presale phase for over 1.5 years but has never officially ended. This is an unusual sign in the operation of the cryptocurrency project, as reputable projects usually have clear roadmaps and specific sale deadlines.
The sale period extending over 18 months for a presale phase that has never ended raises suspicions about the transparency and true purpose of the project. This lack of transparency severely affects investor trust in both the Vietnamese and global markets.
Why is BlockDAG Network suspected of misappropriating investor funds?
According to an investigation by expert ZachXBT, investment money in BlockDAG Network is frequently transferred to many accounts on various exchanges. This behavior indicates that the project may be distributing or withdrawing capital to avoid specific scrutiny, making it difficult for investors to trace and respond.
Continuously transferring money to many wallets or different accounts is also a warning sign of the potential misappropriation of investment capital in the form of a scam. This is a common tactic in the cryptocurrency field aimed at making verification and legal handling difficult.
"The project's prolonged presale for a long time without a clear ending step, along with the dispersal of funds into many different accounts, is an important warning sign for investors."
ZachXBT, cryptocurrency investigator, August 2024
What is the fake data used to create market panic and what is its impact?
The BlockDAG Network project is accused of using inaccurate data to incite market anxiety, creating a FOMO (fear of missing out) mentality that leads individual investors to pour in money. This is a harmful market manipulation tactic.
Creating fake data not only deceives investors but also distorts the nature of the market, reduces the quality of information, and severely impacts the sustainable development of the cryptocurrency ecosystem.
"Data manipulation behaviors aimed at creating a sense of urgency and panic are dangerous and harm the cryptocurrency industry and the reputation of transparent projects."
Cryptocurrency market analyst, 2024
What key points should be noted when evaluating cryptocurrency projects to avoid scam risks?
Investors need to pay attention to the sale period, transparency about the roadmap, and financial reports. Projects that have unusually prolonged presales or lack clear results should be approached with caution.
It is necessary to check money transfers, market data, token trading behavior, and reports from independent experts to assess reliability. Do not rely on advertising lacking clear evidence.
Frequently Asked Questions
What is the BlockDAG Network project and how does it operate?
BlockDAG Network is a cryptocurrency project that has been in presale for over 1.5 years and has not officially ended, raising questions about transparency.
Why is this project suspected of being a scam?
Due to investment funds being transferred multiple times to different accounts and signs of creating fake data causing market panic.
How to identify cryptocurrency projects with potential risks?
Observe a clear roadmap, reasonable sale time, transparent information, and no market data manipulation tricks.
What common tricks should the cryptocurrency market be wary of?
Data manipulation, fraud in transactions, non-transparent money transfers, and unusually prolonged presales.
What should you do when you detect signs of a scam in a cryptocurrency project?
Stop investing, thoroughly research information, consult experts, and refer to reputable reports to make appropriate decisions.
Source: https://tintucbitcoin.com/blockdag-network-bi-nghi-lua-dao-dau-tu/
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