Some cryptocurrencies seemed promising, but behind the curtain, they hid true stories of fraud. Let me reveal some of them with solid evidence:
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1. SHIBA INU (SHIB) – The False Dream of Billions
Secret:
Although it is a massive community project, few wallets hold more than 50% of the total supply.
Evidence:
In May 2021, the founder of the coin sent half of the supply to Vitalik Buterin's wallet (founder of Ethereum), who suddenly sold a large amount, causing a 40% drop in price within hours.
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2. HEX – The False Loyalty System
Secret:
The coin was promoted under the concept of "staking" for profits, but the benefits did not come from real activities, but from the money from new investors.
Evidence:
In 2020, analysts discovered that the promised returns were simply new coins transferred from the treasury to early investors... This means there was no real investment generating authentic profits.
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3. SafeMoon – The Dark Moon
Secret:
Each buy or sell transaction involved a 10% fee, making small investors pay dearly for each move.
Evidence:
In April 2021, many new investors bought SafeMoon, but later discovered that liquidity was manually controlled by the founding team, allowing them to withdraw funds quickly and collapse the value of the coin.
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4. Internet Computer (ICP) – The Mysterious Rise and Fall
Secret:
At launch, most retail investors could not sell their tokens, while the project team and large investors sold at peak prices.
Evidence:
In less than a month since its launch in May 2021, the price of ICP collapsed from $700 to less than $50, causing billions in losses for regular investors.
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5. Terra Classic (LUNC) – The Financial Explosion
Secret:
The system was based on linking a stablecoin (UST) through an unstable supply and demand mechanism.
Evidence:
In May 2022, UST lost its parity with the US dollar and fell below $0.10, causing LUNA to plummet from $120 to less than $0.0001 in just a week, resulting in investors losing 99.99% of their money.
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Conclusion:
Behind every "shiny" coin, there is a hidden story.
Do not trust the hype: always research the project's background, the development team, token distribution, and liquidity strength.
Remember:
The real secret in the crypto world is not getting rich quickly, but knowing how to protect yourself from the traps of quick losses.
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We will discuss these cases in detail in upcoming articles.
Wait for the next release of our list of fraudulent cryptocurrencies!
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