How are Innocent People losing money in the name of crypto Scams

In the world where most of us here feel good to be aware about crypto and blockchain technology there are so many people who are still not aware about the concept and that is how they lose money in the name of money making crytpo scam. Earlier they use to join a multi level marketing scheme to face losses but now crypto is the new thing in the name of which people are facing losses.

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In last three years, India has seen thousands of crores scam in the name of crypto projects. Obviously these are the projects that do not have any real vision but what they have is a orator and manipulator who is enough to sell the product ( token ) to the people who are listening to them.

They target the people who are not rich, people who lives in village, they work on one of the people from village and then he alones convice others to join and invest money in the project. Recently my Uncle approached me with something similar and i exposed the project in which he already invested a lakh.

He stopped talking to me since that day but i told him on his face that these guys will run away with the money one day and they are just collecting the money from innocent people. There are few reasons why the project he is dealing with is nothing but a scam.

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• 99.2% of the total coins are residing with 5-6 people.

• They ask their user to hold their token till 2030 and they promise to give crores of rupees to people who are investing only 10000 indian national rupees.

• They promise to beat and cross bitcoin in not only market cap but also the price.

• The total number of coins in circulation is 1 billion and i think there is nothing i need to say after this.

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I feel sad for the innocent people who are going to lose for believing someone blindly, i feel bad because many of them have saved this money for months and years that they now have put into this project. They think i am mad but when the project they are dealing with runs, they will regret not believing me.

What are the solutions to these scams? There are so many solutions, we as a crypto lovers can spread the word about how there are so many scams going on in the market now a days. We all can start doing it from our homes.

Some terracore activity

I have been practicing a experiment with terracore that i shared recently, i am trying to multiply my scraps from trading on tribaldex. You might find that interesting and so i am sharing the links to the blogs i have shared about it below.

• A risk to multiply my scrap tokens from terracore : Let's play along the market manipulation

• How i took advantage from the manipulation going on with terracore scrap token

There was one more blog that i shared yesterday but these two will help you well with what i am trying to do with my experiment.

Thank You

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