Protect Yourself From Scams in SHIB and Crypto in General

The scams. The spam. The I need help and the fake websites. How does one navigate through the noise and fake accounts and scammers trying to get into your wallet? How can one tell what’s real and what’s fake. Let’s talk about how to protect yourself in crypto.

Trust no one. Simple as that. If your on Telegram, Reddit, Discord or any social media platform. Ignore any DMs inviting you to join a project promising you huge gains. Don’t be blinded by greed. Be careful in who you talk to online. Even in projects that seem real and promising. People are not always who they seem to be in crypto.

If I ever DM you personally. Ignore it. I never DM anyone on any of my platforms asking for help. I communicate only on my telegram in the public chat. Never behind closed doors.

You must do the same. Don’t follow links. Don’t open pictures. If someone comes asking you for help… take it to the general chat. Never talk privately with anyone that you don’t know. Even if they give you some sob story… don’t trust anyone.

Protect your seed phrase to your wallet. Don’t ever share it. Don’t even keep it on an electronic device. Write it on a piece of paper and put it in a safe place. Never, ever give anyone access to your wallet.

Do your due diligence on every project before you jump in. Especially with all these Inu coin projects coming out. They say it’s early, it’s early… don’t FOMO. Check everything.

Red Flags to watch for.

Poorly designed website. That is sites with grammatical errors. Or projects that don’t delve into much details. Projects with a white paper that doesn’t show anything substantial. If the site doesn’t display good details and info stay away.

Team. Know the team even a project with an anonymous developer team. Is the head developer in the chats. Is the mysterious creator writing blogs. Is the team transparent or fully doxxed. If a team, anonymous or not, is not trying to connect with the community something is not right.

Community. How large is the community? How many holders holding the token. Are the devs active in the chat? How many devs. Check on all these things. If you find in the chat that the devs are not around often something is fishy.

Tokenomics. Can you sell the tokens back on the swap you purchase them from. Is selling of the token allowed? If a project is not giving you the ability to cash out at anytime this is an obvious rug pull. Squid game token was a good example of this. Buy the token but you can’t sell.

On YouTube and In the comments watch for people soliciting advice. They will say they had a certain someone help them make bank. Then someone else responds that they got help from the same person. Report these. Stay away.

Check out the two samples below on YouTube. These are scams. Click on the three dots on the right and report to YouTube immediately. Be careful.

The most popular projects will have scammers lurking. SHIB, Bitcoin, Doge. Scammers will use these legitimate projects to lure unsuspecting people into a trap. Always double triple check any and all resources.

It’s my hope that these tips will encourage you to do your due diligence. Please don’t get scammed. It’s a terrible feeling to lose your crypto to a scam. Please be safe and be careful.

With that be safe and keep it lit. 💎🙌🏼🚀

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Artist | UI Designer | Crypto enthusiast | Developer | bungalogic.com | Youtube.com/bungalogic