#004 — Scams, Rug-pulls and Slanders

Raj Lahoti is known for his “raj-pulls”: he sells all his shares and then buys them back, unlike the scammers.

HOW DO SCAMMERS WORK?

SMALL SCAMMERS

This account which promises a guarantee against the scams made a rug-pull last month.
@charcoin scammers robbed their investors of over $ 400,000

RUG-PULLS WITHOUT MALICE

There are also rug-pulls that are made by people who are not scammers and who may have different reasons for wanting to sell their shares.

  • They need cash to participate in other projects or invest in other creators.
  • They need the money. Remember that behind most accounts there is someone with real world issues and you never know what these people are going through in their life.
  • They no longer believe in the creator or the project in which they had invested.
  • They were disappointed with Bitclout and decided to leave.
Raj Lahoti, one of the nonconformist characters of the platform.

WHAT SOLUTIONS TO AVOID GETTING SCAMED?

The fact that the core team changed the default FR to 100% was certainly a good move in preventing scammers from investing in coins as soon as an account was opened even before the coin creator.

If a creator claims a popular Instagram account but doesn’t post his Bitclout link on his IG profile, that’s suspicious.

VIGILANTES AND SLANDERS

Faced with this upsurge in scams, we have seen the proliferation of dedicated accounts to denounce scammers. If we can be delighted with these initiatives, the other side of the coin is that unfortunately, some vigilantes do not make a serious investigation and slander creators based only on presumptions, without even taking the time to contact the creators.

Some vigilantes publish lists of supposed scammers without even having contacted the people first.

THE HECTIC LIFE OF MR. CLOUTER

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