⚠️ Most beginner traders lose money because they ignore these four facts, which have actually happened:
$QNT $NEAR $SUI
1️⃣ Honeypot: Code that prevents selling while allowing buying, artificially driving up the price (example: SQUID coin rose to $2,861 and dropped to zero in an instant)
2️⃣ Influencer dumping: Promoting an unknown coin to attract your money, getting you to buy at the top, and then selling their holdings to you (example: SaveTheKids collapsed 99% in 48 hours)
3️⃣ Rug pull: Exploiting vulnerabilities to mint new coins or suddenly withdraw liquidity (example: AnubisDAO stole $60 million in the blink of an eye)
4️⃣ Address poisoning: A hacker might send fake transactions (small amounts, a few dollars) from a scammer’s address that looks like yours (the first four and last four digits resemble yours). You might accidentally select it from your transaction history and give the hacker’s address to someone who is sending you money without noticing, because the hacker’s address has been saved in your history (example: A whale accidentally sent $68 million to a scammer)
To protect yourself:
• Check the smart contract: Use Honeypot.is to make sure selling is enabled.
• Monitor the coin’s distribution: Stay away if the top 10 wallets own more than 20% of the supply.
• The 24-hour rule: Wait a full day for the FOMO wave and influencer dumping to subside.
• Centralized exchanges first: Trade through Binance to ensure projects undergo strict legal checks.
• Pay close attention to your address
#Near #QNT #sui #BinanceToResumePhaseOneOfWithdrawals
#BinanceUpdatesProofofReservesAddresses
$QNT $NEAR $SUI
1️⃣ Honeypot: Code that prevents selling while allowing buying, artificially driving up the price (example: SQUID coin rose to $2,861 and dropped to zero in an instant)
2️⃣ Influencer dumping: Promoting an unknown coin to attract your money, getting you to buy at the top, and then selling their holdings to you (example: SaveTheKids collapsed 99% in 48 hours)
3️⃣ Rug pull: Exploiting vulnerabilities to mint new coins or suddenly withdraw liquidity (example: AnubisDAO stole $60 million in the blink of an eye)
4️⃣ Address poisoning: A hacker might send fake transactions (small amounts, a few dollars) from a scammer’s address that looks like yours (the first four and last four digits resemble yours). You might accidentally select it from your transaction history and give the hacker’s address to someone who is sending you money without noticing, because the hacker’s address has been saved in your history (example: A whale accidentally sent $68 million to a scammer)
To protect yourself:
• Check the smart contract: Use Honeypot.is to make sure selling is enabled.
• Monitor the coin’s distribution: Stay away if the top 10 wallets own more than 20% of the supply.
• The 24-hour rule: Wait a full day for the FOMO wave and influencer dumping to subside.
• Centralized exchanges first: Trade through Binance to ensure projects undergo strict legal checks.
• Pay close attention to your address
#Near #QNT #sui #BinanceToResumePhaseOneOfWithdrawals
#BinanceUpdatesProofofReservesAddresses