Back
June 6, 2024

Fighting Spam and Scams in the Crypto World: A Real-Life Cautionary Tale

June 6, 2024

In the ever-evolving landscape of blockchain and cryptocurrency, staying vigilant against scams is not just advisable—it's essential. The complexity and sophistication of these malicious schemes have reached new heights, making them increasingly difficult to identify. As I've often warned in our community chats, these attacks are being vectored in ways we have not previously encountered.

Today, I want to share a compelling story posted by a Reddit user, which starkly illustrates the cunning nature of these scams and the significant impacts they can have on individuals. This firsthand account not only sheds light on the tactics used by scammers but also serves as a stark reminder of the importance of our ongoing efforts to combat these deceptive practices.

Original Reddit Post: "I GOT SCAMMED OVER $3400 USD BUYING A PROMISING SNIPE BOT - FLASHBOT"

Dear crypto dreamers and crypto enthusiasts,

Let me save you $3000 USD by exposing just another brutal scam in the crypto world. I can't believe I fell for it - being a mature 38-year-old guy who has been in the crypto world for over 4 years now.

Anyways—the evil low-lives have created the following website:

sniperbotflash.com

Apparently, they spent a lot of time making the site, writing it well (no grammatical errors or anything low-quality looking), and also they have made a few videos demonstrating how the bot works.

Sure it did look too good to be true, but here is why I fell for it—as indeed I did my due diligence and spent enough time to try and research if this site is a scam:

  1. The site looks good, well written, active community on Telegram, all technical aspects of the bot looked real (I’ve checked other bots before), and exceptional customer service. As soon as I contacted them—I got a response pretty quickly. Not to mention that the evil low-life soul that was communicating with me, was intelligent, assertive, very good English—and was answering all my questions promptly. And the answers were basically reconfirming all I needed to hear. For example, I asked – can I place an order in the first block right after a token launch. The evil soul would say – 90% of times you are top 5. So it’s like it was a Nazi psychologist who was catching you in his spider webs slowly but gradually, absolutely emotionless that he is about to steal your money. Or in other words—a real psychopath.
  2. I couldn’t find ANY negative reviews, scam alerts, or any other clues that these guys were thieves.
  3. I did contact THREE different “members” from their Telegram community. They all said—the bot is legit, it’s super fast, you won’t find anything better. Guess what—all of this community is a PURE SCAM. It might be even the same person managing all “members” of the group. Or it’s an organized crime group.
  4. The Telegram community was indeed active and it looked absolutely real. On each post, there were legit comments. Yes—I have read over 100 comments, I’m serious, and I never got a red flag in my mind not even once.

SO, how everything unfolded.

After I did my “due diligence” and check marked all possible red flags, I thought to give it a go. Contacted the evil low-life again, I bought the bot from the website above—btw it was through a third-party payment processor called Nowpayment.io

The low-life gave me the bot “license” and told me to log-in.Yay—I went to the site, hit start bot, and INDEED I did log in. Then the bastard told me to add at least three wallets with about $300 and he will walk me through some of the winning strategies. Obviously, you have to export your Phantom wallet private keys, in order to use any bots.

AND TADAAAAAAMM :))) as soon as I did that—BOOOOOM. The low-life immediately closed our chat, and right after I checked my three wallets—DRAINED to the max!!

How sophisticated guys, I just can’t believe how much effort they spent to make it so so real.

Now, since I’m a good Samaritan, I’m a good hard-working honest guy, I will spend at least 4-5 hours of my precious time, to spread this message to as many highly authoritative sites as possible, so next time, another helpless victim googles their evil website, to be able to at least see ONE of my scam-revealing posts.

I truly HOPE, I saved someone $3000. And for the low-life…oh boy, I’ve read sooo much spiritual literature from some of the greatest spiritual gurus out there

More about technology

View all
December 9, 2024

Could New Regulations Endanger Crypto in 2025?

As cryptocurrency gains mainstream adoption, new regulations are becoming a significant concern. Understanding how these potential rules could impact crypto markets is essential for investors. Let's examine how upcoming regulations might influence crypto investments and what steps you can take to stay ahead.

December 1, 2024

6 common mistakes when working with crypto that lead to losses

While the so-called fat-finger errors do occur outside of crypto, too, one key difference in crypto is the fact that transactions are irreversible and anonymous, leaving limited options to be made for recovery.

November 25, 2024

Blockchain against AI fakes: Protecting crypto distributions

AI Bots seem to be everywhere, from social media to online gaming. For example, in crypto gaming, it is quite common to use bots to "grind" through tasks in games or even fake user activity to qualify for crypto airdrops. The problem is that while some bots are fairly obvious in their repetitive actions, AI technology is advancing rapidly, making it harder to distinguish fake from real accounts.

November 18, 2024

Web3 and artificial intelligence: How AI is transforming crypto projects

This article will explore how AI can be put into operation within a Web3 and crypto project, illustrating examples from AI-enhanced smart contracts to data analytics and even locking up critical security mechanisms.

November 10, 2024

Web 3.0: What it is and how it is changing the digital world?

Amidst buzzwords such as blockchain, crypto, and metaverse that have dominated headlines in the tech space, "Web 3.0" is a term whose definition actually corresponds to an entirely new internet.

October 30, 2024

A Comprehensive Guide to the Bear Flag Pattern for Traders

In the bustling world of trading, mastering technical analysis is key to making informed decisions. One essential pattern to familiarize yourself with is the Bear Flag Pattern. This guide will walk you through understanding, identifying, and trading this powerful pattern as part of your trading strategies.

October 23, 2024

Understanding MetaMask: Your Gateway to the Blockchain

In today's rapidly changing world of cryptocurrency and blockchain technology, having the right tools is essential for managing your crypto assets and interacting with decentralized applications (dApps). One tool that stands out is MetaMask

October 15, 2024

DeFi vs CeFi: Understanding the Differences

In the realm of cryptocurrency and blockchain technology, two distinct financial systems take center stage — Decentralized Finance (DeFi) and Centralized Finance (CeFi). Both systems provide avenues to manage, trade, and grow your assets, yet they operate on different core principles.

October 10, 2024

A Beginner's Guide to Mastering Reversal Candlestick Patterns for Market Trend Prediction

This guide simplifies reversal candlestick patterns, equipping you with the tools to enhance your market trend prediction skills.

October 7, 2024

What Does DCA Stand For in Cryptocurrency?

Are you new to cryptocurrency investing? You might have heard about DCA, a key strategy that can significantly impact how you manage your investments in the volatile world of crypto. But what does DCA really mean, and how can it benefit your investment approach?

October 2, 2024
Instant Deploy Wizard

Simplifying Automation with GraphLinq's Instant Deploy Wizard: No Coding Required

In the rapidly evolving world of blockchain technology and decentralized finance (DeFi), automation has become crucial for efficiency and scalability. However, traditional automation often requires extensive coding knowledge, making it inaccessible to a large number of users.

September 30, 2024

Unlock the Power of Blockchain Automation with GraphLinq Marketplace

In the rapidly evolving world of blockchain and decentralized finance (DeFi), automation is key to staying competitive, efficient, and scalable.

September 25, 2024
No-Code

How to Simplify the Creation of Smart Contracts and DApps on GraphLinq Chain: Rapid Deployment Without Coding

The world of blockchain technology is expanding rapidly, and with it, the demand for decentralized applications (DApps) and smart contracts is on the rise. However, many developers and businesses are deterred by the complexity of coding and technical expertise required to develop on traditional blockchains.

September 20, 2024

The Legal Status of Cryptocurrencies: Are They Securities or Commodities?

Cryptocurrencies have taken the world by storm, transforming traditional finance and introducing new ways of conducting transactions, raising capital, and investing. However, with this rise in popularity comes a critical question that regulators, investors, and businesses must face: Are cryptocurrencies securities or commodities?

September 4, 2024

How to Find New Cryptocurrencies Worth Investing In

Investing in cryptocurrencies requires a unique approach compared to traditional investments. While the dynamic nature of the cryptocurrency market presents numerous opportunities, it also comes with significant risks

September 3, 2024

Understanding Cryptocurrency

Cryptocurrency is a digital or virtual currency that uses cryptographic principles to secure transactions and control the creation of new units. Operating on decentralized networks, cryptocurrencies are typically underpinned by blockchain technology, a distributed ledger maintained by a network of computers (nodes).

August 29, 2024

Understanding Bitcoin Halving: An In-Depth Exploration

Bitcoin halving is a significant event that occurs approximately every four years within the Bitcoin network. During this event, the reward that miners receive for adding new blocks to the blockchain is cut in half, reducing the rate at which new bitcoins are introduced to the marke

August 27, 2024

A Guide to Understanding Crypto Tokens

Crypto tokens are dynamic digital assets created on existing blockchains like Ethereum. Unlike cryptocurrencies, which serve as the native currency of a blockchain, tokens are used within decentralized applications (dApps) for various functions such as facilitating transactions, representing ownership, or storing value.

August 23, 2024

Crypto for Beginners: Understanding Cryptocurrencies & Exchanges

Cryptocurrency has rapidly become a significant part of the financial world. This guide simplifies the core concepts of cryptocurrencies, helping beginners understand this new digital frontier.

August 19, 2024
Cryptocurrency

A Comprehensive Guide to Altcoin Season

While Bitcoin remains the most well-known and widely adopted cryptocurrency, altcoins provide opportunities for diversification and specialization in sectors ranging from decentralized finance (DeFi) to privacy-focused transactions.

August 8, 2024

Cases and Future of Artificial Intelligence (AI) in Crypto

Artificial Intelligence (AI) and cryptocurrencies are revolutionizing the tech landscape. Imagine the decentralization and security of crypto combined with AI's unparalleled data analysis and pattern recognition capabilities. This dynamic duo is poised to bring about groundbreaking innovations across various sectors.

August 4, 2024
MetaMask

How to Create Your Own MetaMask Wallet

MetaMask is a popular browser extension that allows you to store Ethereum and other ERC-20 tokens securely. This free and secure extension enables web apps to read and interact with the Ethereum blockchain. MetaMask is a hot wallet, meaning it stores your cryptocurrencies online. Users can send cryptocurrencies and interact with many decentralized apps using this browser plugin.

July 30, 2024
DeFi hacks

How to Use Your Crypto Wallet Safely

With the recent ETF win and possible increased Bitcoin and Ethereum mass adoption, securely managing your crypto assets has never been more critical. Cryptocurrency wallets are essential for responsible digital asset management, allowing you to store, receive, and send coins and tokens securely. However, not all wallets offer the same level of reliability and security.

July 25, 2024
Smart contract

What is a Smart Contract? An Overview of Smart Contract Technology

In today's fast-paced digital landscape, smart contracts have emerged as a revolutionary force, transforming how transactions and agreements are conducted. Built on blockchain platforms, these self-executing contracts combine traditional contract principles with the efficiency, transparency, and security of decentralized ledger technology.

July 23, 2024
DeFi hacks

How to Protect Against Crypto Scams and Ponzi Schemes

Navigating the intricate world of cryptocurrency trading can often feel daunting, especially with the lurking threat of crypto scams and Ponzi schemes. In the revolutionary realm of cryptocurrency, opportunists always seek to exploit vulnerabilities and defraud unsuspecting investors.

July 22, 2024
Bridge

Understanding Crypto Bridges and Cross-Chain Transactions

Curious about how cryptocurrencies can transition seamlessly between different blockchain networks? The key lies in crypto bridges. Whether you're new to cryptocurrency or intrigued by its workings, this guide will clarify the concept of crypto bridges and illustrate how they facilitate cross-chain transactions.

July 17, 2024
AI

The Integration of AI in Crypto: A Revolutionary Partnership

Artificial Intelligence (AI) and cryptocurrencies are revolutionizing the tech landscape. Imagine the decentralization and security of crypto combined with AI's unparalleled data analysis and pattern recognition capabilities. This dynamic duo is poised to bring about groundbreaking innovations across various sectors.

July 12, 2024
Smart contract

How to Secure Smart Contracts from Hacks

Smart contracts are changing how businesses operate in the blockchain realm. These self-executing contracts, with agreement terms embedded directly in lines of code, are powerful tools but are not immune to cyber threats. In recent years, the blockchain community has seen multiple high-profile smart contract hacks, leading to significant financial losses.

July 8, 2024
DeFi hacks

How to Avoid DeFi Hacks

Blockchain technology has revolutionized the financial sector, leading to the rise of Decentralized Finance (DeFi). DeFi enables peer-to-peer lending and borrowing without needing traditional banks, providing individuals with more control over their finances and increasing accessibility to financial services.

July 4, 2024
Trading bot

Build Your dApp with Lua Script. Step-by-Step Guide to Developing the Dextool Trending Tokens Sniper Bot

Developing dApps can seem daunting, especially if you're not familiar with programming languages. However, mastering these languages unlocks their true potential. Among these, Lua Script stands out as a crucial tool.

July 1, 2024
Blockchain

7 Reasons Why Your Business Needs Blockchain Technology

In today’s rapidly evolving technological landscape, businesses continuously seek ways to enhance security, transparency, efficiency, and cost-effectiveness. Blockchain technology, the backbone of cryptocurrencies, has emerged as a game-changer that can significantly improve your business operations.

June 28, 2024
Smart contract

The Ultimate Smart Contract Audit Checklist

Building a smart contract is like constructing a complex machine—exciting and innovative, but risky. Just as you wouldn’t launch a rocket without rigorous checks, your smart contract needs a thorough audit before interacting with real money or assets.

June 25, 2024
No-Code

Are No-Code Platforms Like Graphlinq Secure and Compliant?

Worried about no-code platforms running off with your data? Let's set the record straight. Platforms like Graphlinq are more secure than you might think.

June 21, 2024
MetaMask

How to Use MetaMask with Graphlinq: A Complete Guide

MetaMask is a familiar name in the web3 and crypto space. It is one of the most popular Ethereum wallets, serving as a bridge between standard web browsers and the Ethereum blockchain, including Ethereum-compatible chains like Polygon, BSC, and more.

View all