Cryptocurrency Cutting Prevention Guide: A Blood and Tears Manual from a 9-Year Veteran
1. Airdrop Scams: The Most Expensive Freebies
Register to receive airdrops, guaranteed profits! Behind this rhetoric often lies malicious authorization traps. Once you connect your wallet and sign a contract, your assets may be instantly cleared.
Prevention Strategies:
Never authorize unknown DApps with “unlimited transfer” permissions.
Use a separate airdrop wallet to isolate large assets.
Check contract audit records (e.g., SlowMist, CertiK).
The Three No Law of Air Coins
No Technology + No Team + No Product = Pure Cutting Tool for Investors. Typical Characteristics:
The whitepaper is full of “disruption” and “revolution,” yet lacks a GitHub.
Team photos are AI-generated or stolen.
The coin peaks immediately after being listed on an exchange, then gradually declines to zero.
Pump and Dump Trap: Celebration Leads to Ruin
When a certain coin suddenly skyrockets, the community erupts with “Go! Ten Thousand Times God Coin!” This is often a precursor to the manipulators unloading their assets.
Danger Signals:
Trading volume surges but large on-chain transfers are all directed to exchanges.
Sudden influx of “wealth screenshots” on social media.
Project parties take the opportunity to release positive news (e.g., “soon to be listed on major exchanges”).
Rogue Exchanges: Your Principal, Their ATM
No transaction fees! 100x leverage! Small exchanges often harvest users through fake depth and liquidation spikes.
Survival Rules:
Only choose Top 5 exchanges (Binance, OKX, Coinbase, etc.).
Withdraw to a cold wallet; do not store assets long-term.
Beware of “high-yield financial” traps.
Contract Leverage: A Tool for Professionals, a Meat Grinder for Novices
With 10x leverage, a 10% price fluctuation can trigger liquidation. In 2023, Bitcoin had over 47 days with single-day fluctuations exceeding 15%.
If you don't understand cryptocurrencies yourself, then it's advisable to stay close to experienced individuals!
Whether it's fresh goods or harmonious exchanges!
Success is not just about luck; choice may be greater than effort.
