There were currencies that seemed promising, but they hid behind their veil real stories of fraud. Let me reveal some of them with evidence:
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1. SHIBA INU (SHIB) – The False Billionaire Dream
The Secret:
Although it is a massive community project, a few wallets hold more than 50% of the total currency.
The Evidence:
In May 2021, the currency's founder 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 currency was promoted through the idea of "saving currencies" (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 new currency transfers from the vault 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 currency, but later discovered that liquidity was managed manually by the founding team, which made it easy for them to withdraw money quickly and deprive the currency of its value.
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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 currencies, while the project team and major investors were able to sell at the highest prices.
The Evidence:
Within less than a month from its 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 stablecoin (UST) to an unstable supply and demand mechanism.
The Evidence:
In May 2022, the UST currency lost its peg to the dollar and fell below $0.10, leading to the collapse of the accompanying LUNA currency from a price of $120 to less than $0.0001 in just one week, with investors losing 99.99% of their funds.
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Summary:
For every "shiny" currency, there is a hidden story.
Don't trust the hype, and always look for the project's background, the team, the distribution ratio, and liquidity.
Remember:
The secret in crypto is not to earn quickly, 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 from the rest of the fraudulent currency list!
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