How to accurately identify the background of a project to avoid fraud

As the currency circle with the most powerful “anchor”, Musk for the future of Dogecoin is also painstakstakely.

With the heat wave of the coin circle one after another, frequently mounted on the hot search at the same time, the crazy influx of retail investors, the old mainstream, copycat coins soared, all kinds of junk coins, air coins flying all over the sky has also become one of the biggest key words in the cryptocurrency market in April 2020.

According to gold financial data, since this month, some mainstream currency and domestic public chain began to make up, but most is some of the value of the air currency, a lot of lower unit price of the currency began to rise.

Newbie investors tend to buy some cheap tokens, but for beginners, and even experienced ones, it is difficult to distinguish between the air coins and junk coins.

As a result, newly entered retail investors have become the main force driving these junk coins up.

Shanzhai currency market also directly led to the market value of shanzhai coins continued to squeeze the market value of bitcoin.
Presumably next is another stubble of new leek sit waiting for cutting.
In the past week, the early warning system of Certik project disclosed several security incidents and issued early warning for the first time, among which Cryptoption had fled with money stolen by stone Hammer, and the 189,117BUSD gained from pre-sale was swept away. And another project, Moonhere, is suspected to be the same as the main team behind Cryptoption.
The chaos of the coin circle can be seen here.
Among all the hidden security vulnerabilities and hidden dangers in the hot background, project fraud can be said to be the least technical security attack, which also leads to the occurrence of a large number of fraud incidents.

⭕ Do not use the project’s background as the sole measure of trust in the project.
Avoid credulous false project background. In addition to verifying the background, the basis of trusting the project is to judge the quality and safety of the smart contract.
⭕ Investors should carefully read and identify the research and promotion of the project.
Content generated using content auto-generation tools can flow smoothly from the statement, but its logic and meaning are often very cluttered.
⭕ Find out if any type of identity verification has been done before you invest.
Projects that have been authenticated are obvious and have much higher credibility than projects that have not been authenticated.

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