Battle Training #4 — Basic Rules
No-one can ever become great in any undertaking without knowing the basics, and today we will cover the basic rules on how to avoid falling for scams. Here is our Top 8 Red Flags:
1- Contract not being verified.
If you ever come across a project that does not have its contract verified (1) on Etherscan (the green check mark) don’t even bother wasting your time there, because it is most likely a Scam.
2- Unlocked Liquidity.
Everyone should know by now that when a new project launches its liquidity should be locked at least for a few months. Don’t listen to excuses the Dev gives not to lock it. If the Dev shares a link with the locked liquidity take a few seconds to confirm it, and don’t fall for fake links like this (2):
3- Dev sending Tokens before adding liquidity.
If you see the contract owner sending tokens to many wallets (3) before adding liquidity that is a big red flag, since those wallets will most certainly dump on you as soon as you buy in.
4- Dev has removed liquidity in the past.
Would you trust someone that you know had just stolen money from others? No! Check our post about it here:
https://shartaninu.medium.com/battle-training-1-remove-liquidity-2748892bfc8c
5- Honeypot in the contract code.
Probably the easiest and quickest check you can do is the Honeypot verification. Check our post about it here: https://shartaninu.medium.com/battle-training-2-honeypot-a060b5c6b223
6- Backdoors in the contract code (Liquidity Drainer).
Dev’s can get really sneaky and leave backdoors in their contracts to access and drain liquidity later. Check our post about it here:
https://shartaninu.medium.com/battle-training-3-liquidity-drainer-3fea0db60016
7- Muted Telegram Chat Groups.
One thing we Shartans have noticed is that when Dev’s mute the project’s telegram chat or block you before launching it’s because they have some shady move prepared and don’t want anyone to Flag it in their group. Big Red Flag!
8- Dev’s begging people to buy.
If a Project is good, the public will buy in regardless of anything.
If a Project is rubish be assured to find a Dev begging eveyone to “please please please buy”.
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This is our current Top 8 Red Flags for finding scams.
Crypto changes fast, and Shartans will move faster to update this list as needed.
Stay tuned for more battle training episodes.
If you are a visual person you can see even more content on our Youtube channel: https://www.youtube.com/channel/UCRKGoTAKgP_QbUtIc_1YGsw
We are creating an uprising against scams and rug pulls. Want to know what we are all about? Come check us out inside our Telegram Group: t.me/shartanentryportal
Until next time, stay safe ;)
Or in our Shartan words: SPEAR & SHIELD!
