Episode 1
Episode 2
Many investors have lost money in one way or the other in cryptocurrency but RUG-PULLING seems to be the most common way of losing money.
What is RUG-PULLING ? Rugpull is achieved when the developers of a coin pulls out the liquidity they added to the exchange where the coin is traded. This makes it difficult for the investors to sell their tokens because the liquidty that will process the buy is not available.
How do we know if a project will be rugpulled?
The fact is that it is not easy these days as some of the scammers are now very smart with their operations , however below are few strategies that can help .
1. Check if the liquidty is locked and ownership denounced . If the liquidty is locked , then there is no way the liquidty can be pulled out untill the expiration of the locking period.
2. Check if there are wallets with more than 40% of the total circulating supply . If a wallet has up to 60% of the circulating supply , it is probably the wallet of the developer and he can dump the tokens at once and crash the project.
3. Confirm using Binance scan that the claimed tokens were burned because there are techniques that makes a wallet appear to have less amount of tokens as it actually contains.
4. Do you research before investing in any project.
Episode 2
Many investors have lost money in one way or the other in cryptocurrency but RUG-PULLING seems to be the most common way of losing money.
What is RUG-PULLING ? Rugpull is achieved when the developers of a coin pulls out the liquidity they added to the exchange where the coin is traded. This makes it difficult for the investors to sell their tokens because the liquidty that will process the buy is not available.
How do we know if a project will be rugpulled?
The fact is that it is not easy these days as some of the scammers are now very smart with their operations , however below are few strategies that can help .
1. Check if the liquidty is locked and ownership denounced . If the liquidty is locked , then there is no way the liquidty can be pulled out untill the expiration of the locking period.
2. Check if there are wallets with more than 40% of the total circulating supply . If a wallet has up to 60% of the circulating supply , it is probably the wallet of the developer and he can dump the tokens at once and crash the project.
3. Confirm using Binance scan that the claimed tokens were burned because there are techniques that makes a wallet appear to have less amount of tokens as it actually contains.
4. Do you research before investing in any project.