How to determine if you're facing a fraudulent project

30.10.2021 08:58
How to determine if you're facing a fraudulent project

    Broex is adding tools to interact with different networks, so you can use the service to buy and exchange even unpopular assets. But do not forget that some tokens turn out to be a fake project of unscrupulous organizers - investing in them, you risk losing money.


    How investors are misled


    Developers can not only create their own projects and make money promoting them, but also imitate already existing blockchains thanks to availability of ERC20 and BEP20 protocols.

    Posing themselves as representatives of larger and better-known projects, scammers attract investments without giving anything in return. It is impossible to get back the money lost in this way.


    How to make sure that the project is real and honest


    To separate the wheat from the chaff and not to fall for a scam follow these recommendations:

    • Make sure that the token is linked to an official website, protected by https protocols, and does not redirect you to other pages during the payment;
    • Check the newsletter. If you receive an offer to invest in a project, make sure it does not come from a clone. You can clarify by contacting technical support service;
    • Do not take part in a giveaway, the main condition of which is to buy some coins from the project. If the distribution occurs on behalf of a celebrity - most likely, it is a scam;
    • If it is not a fake, but a new project, study all the details, documents and roadmap.


    BroScore - mentor in the world of tokens from Broex

    Follow BroScore to always be aware of the news about various tokens:

    • Discover many different tokens;
    • See our checklist for defining SCAM projects for tokens;
    • Study and evaluate the token scale;
    • Get a brief overview of tokens and links to them.

    Rate the article