This guy with a ski mask just forked Uniswap and is offering 30 000% APY. After a 3 day Audit, which he passed, he has launched. The only thing we know about him is his Ethereum address. This project literally came out of nowhere and launched in record time. Within 24 hours, his project has attracted investments of 300 million dollars. FOMO?
Listen, I am certainly not encouraging you to do anything illegal.
What I am saying is that in order to survive in this space, you need to think like a criminal.
Luckily, I have not been a victim, however I have seen too many users online fall for scams. It breaks my heart.
You need to start thinking like the actual criminals who are running wild in this space (too many).
- Don't trust anyone with your money.
- Don't trust anonymous dev teams, ever! Example: https://dorayaki.fun
- Never move all your money at once.
- Never put the entirety of your stash in a Pool.
- Don't trust people with Anime avatars providing investment advice on social media. Just no. If you FOMO and lose big, they do not care. They can disappear, leaving you in ruin.
- Never FOMO into food tokens.
- Check the whois of sites... if they're offering crazy yields but registered their domain at the start of October, don't FOMO.
- Audited projects will still pull a rug on you.
- Don't DCA into a SCAM.
- Don't DCA into a long con, thinking it will recover after a few years after, say, a 90% decline. The price of that token might never recover. You will have lost your money, and most importantly, your Time.
- If the dev team is keeping too many tokens for itself, it's probably a SCAM.
- 30 000%-40 000% yields are unsustainable.
- 4 digit yields? It's probably a SCAM.
- If after doing some research you still don't know what that token is useful for, it's probably a scam.
- Don't trust influencers. We saw why this summer: https://twitter.com/JamesJo31157575/status/1309123338116247553
Be very careful out there.
$BREE is the latest rug pull and a bunch of investors with 6 figures in that project have completely been taken advantage of.
