How To Avoid Crypto Scams? Rug Pull, Honeypot Scams Explained

Crypto scams like rug pull and honeypot, have you heard of them?
What is a rug pull?
A rug pull is a malicious scheme in which a bad actor takes away your investments from a liquidity pool. The term comes from the action of pulling a rug underneath someone so as to remove stability. While toppling you over, the scammer takes your crypto with them. This happens when an investor trades a token that they think might have some value. But in reality, the token is worthless. The developer has made it seem like it’s worth something by hyping it up on social media.
What is honeypot?
Honeypots are crypto scams that allow investors to purchase tokens but disable the selling of those tokens. The scammer would insert a code into their smart contracts which only permit certain addresses in their favour to sell the tokens. This then leaves the unsuspecting investors with worthless tokens.
One way to spot a honeypot is when there are a string of buys on the token with hardly to none sells. The price chart usually shows a continuous uptrend, baiting investors into buying it. Once the price has appreciated significantly, the scammer will begin selling their tokens until they have none left. Eventually, the price will depreciate so drastically that the token becomes worthless and investors are unable to get their crypto back.
This video guide teaches you how to spot scam tokens, and gives you top tips to avoid them!
Links Mentioned
Etherscan: etherscan.io/
BscScan: www.bscscan.com/
Honeypot Detector: honeypot.is/
RugDoc: rugdoc.io/
Token Sniffer: tokensniffer.com/
BSCheck: www.bscheck.eu/
Timestamps
00:00 Intro
00:30 What is a Rugpull?
01:37 What are Honeypots?
02:45 8 tips on spotting crypto scams
06:15 Final thoughts
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#Crypto #Rugpull #Honeypot

[@CoinGecko]

To know more about rug pulls in detail and how to avoid them, you can watch this video here 👇🏻 kzbin.info/www/bejne/jJrSoZWwdtiMgMk

[@DamanPowerRaja]

LCOT token update please??

[@GERARD15051]

Few hours later, CoinMarketCap makes a video about Rugpulls on their KZbin channel. 😅

[@CoinGecko]

🤣

[@kiranpawar1306]

Hahahahha

[@DamanPowerRaja]

Display coin LCOT Token??

[@danielemartinelli2700]

Why do you post scam coins in your website at all?

[@jasonjames5407]

I've been rugged a few times and they all had a common link. They all had either a Telegram group that you could not comment on (there were comments but only from a select few praising how amazing the project was - fuelling my greed) or where promoted by a 'whale group' promising high returns and encouraging everyone to buy at a certain time, again comments were off. In this case there were previous posts showing examples of previous massive gains but again group members were disabled from commenting. Hence, my advice would be to steer clear of any group were you cannot comment (and thereby warn other investors of previous bad experiences).

[@casandrachapman4201]

I was also a victim. Very sad. Well, I've been able to get refunds for everything I lost. Send me a message, you can also get your money back

[@Quantum3691]

I would say avoid Telegram and Whatsapp altogether. Many scammers post links to telegram and whatsapp phone #'s. Investigate any opportunity thoroughly until you know for certain that communication is open and honest. Alot of them are foreign which is a big red flag.

[@samuelmensahjnr4845]

Very helpful tips....nice presentation. Thanks Gecko!

[@CoinGecko]

Glad it was helpful!

[@990abod]

Finally someone do understand what they are doing..👍

[@Thatannoyingvoicetoldyoutodoit]

As Binance owns bsc they should also do more to prevent malicious hosts.

[@AF-sh1qk]

nice presentation coin gecko! easy to understand

[@CoinGecko]

Glad it was helpful!

[@himangshubaishnab7026]

Thanks you so much dear mam for your valuable video ❤️

[@tenacious1]

Great tips thx 👍🏾

[@CoinGecko]

Glad it was helpful! More awesome videos coming your way!

[@ferro24crypto81]

Thanks so much.

[@CoinGecko]

Glad it was helpful! More awesome videos coming your way!

[@borispomponius8021]

I value the information you dropped on us. As somebody inquisitive about recuperation, I like that you show devices you use to examine an organization prior to coming to a choice. It's now a hard choice to make and game to play, and with somebody showing the world procedures to safeguard themselves, this information is important. Gratitude for getting some margin to impart this to the KZbin world. We love you *Universal-Dispute*

[@laoahpekandme]

nice video !

[@khadeedabban3823]

Nice presentation, though I'm a learner....

[@dsingleone9820]

What the link site if I wanna see a coin is rugpulscam?

[@mustwahid]

Tq 👍🏽

[@alhassanseidu5215]

Yeah I have been

[@investfoxy]

Useful video

[@CoinGecko]

Thank you! More awesome videos coming your way!

[@stanislav5262]

Pay attention to "rebase function" in the contract if a contract contains this function then it's a red flag.

[@noahlarson6213]

Not necessarily

[@justinibewuike2647]

True. I noticed that in 2030floki. So how do you check to find out if a token is rebase?

[@stanislav5262]

@@justinibewuike2647 tokensniffer

[@justinibewuike2647]

Thank you very much

[@funnybugga]

I got rugged by year rise token. And also a call signals group I was a part of was actually a Honeypot.

[@casandrachapman4201]

I was also a victim. Very sad. Well, I've been able to get refunds for everything I lost. Send me a message, you can also get your money back

[@Charles774]

Wow do you know that resonate also helps you to spot rugs and honey pot?

[@michelpierre3345]

Great info

[@CoinGecko]

Glad it was helpful! More videos coming your way!

[@juniorgarcia8359]

Have anyone heard of pnsb and if it's a scam?

[@sealsfamily62]

Substantive and digestible. Thank you.

[@CoinGecko]

Glad it was helpful! More awesome videos coming your way!

[@nicolecavitana9242]

What can you say about the firepin token because i think its a honey pot scam i even invested in it sigh! All of the category in honeypot scam are in that project i didnt watch this video before i invested in it.

[@casandrachapman4201]

I was also a victim. Very sad. Well, I've been able to get refunds for everything I lost. Send me a message, you can also get your money back

[@dmitriyshakhov4889]

Great

[@jaylockdiff9726]

Ha, well yeah seems i found a honeypot 😅 . Glad I found this video 👍🏻

[@allansh828]

should we short rug pulls?

[@CoinGecko]

🤣

[@ZahidKhan-iy8ce]

very bad experience with msg and wimi token

[@miropribanic5581]

make your own estimate....according to these criteria, esp. tokenomics, how many, if not scams, but at least shady projects are amongst the 150 coins ranked by MC?? I'm guessing more than half. Take away stable coins, research the use case for the rest, and lo and behold, you are left with about twenty (if at all) names, and even with these, things are not ideal

[@olayinkaidris9582]

Thanks for this vital info,

[@CoinGecko]

Glad it helped! More awesome vids coming your way!

[@ttk100]

CAKE Defi by famous scammer Julian Hosp is the perfect example for a honey pot still in existence.

[@JoseRivera-zc2cd]

I experienced a rug pull with babymusk so please take note of it

[@casandrachapman4201]

I was also a victim. Very sad. Well, I've been able to get refunds for everything I lost. Send me a message, you can also get your money back

[@africansnftshistoriesceleb6382]

Am grateful for this, most people have lost on fake tokens their by making the few real ones to suffer much before they can stand.

[@CoinGecko]

Always research before aping!

[@welgbajoseph2339]

This guy does more to prevent and stop online scammers than the FBI. You are a modern-day tech hero!!!! Why doesn't federal government or major security companies hire you. Thanks for retrieving back my USDT *softwarerecovery *

[@Dhan471]

Sparklo presale rug pull 😢

[@sq1zhao172]

可翻譯成中文嗎?謝謝!

[@Arkankraft]

I got Rug pulled to in the past it sucks. Dogezilla will be with their vault create anti Rug pull and Scan safety. Crypto needs that. 👍

[@Arkankraft]

Anti scam

[@casandrachapman4201]

I was also a victim. Very sad. Well, I've been able to get refunds for everything I lost. Send me a message, you can also get your money back

[@user-jn1fp3uf2u]

Thanks @Icloud__boss1 whoever you're. These toxic people from India is ruining our Indian name in big stage. Kudos to you to teach them a lesson. I wish our govt should bring some reforms and regulations on call centres:

[@azbal87]

hmmm..shib

[@IsmailaRahama]

Excellent job, *Vortxtrace* - I’m thrilled to see you out there fighting against these individuals who lack integrity. We must do everything within our power to shield the elderly and the wider public from these wicked scammers! Hats off to you!! You deserve the highest honor for your efforts in keeping us safe, brother.😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊

[@bullrusher2821]

Lgcy network hidden 💎

[@dannygreen531]

Stay away from pinksale.

[@baldeaguirre]

safemoon is the worst rug pull I have ever been.

[@sheelamariecastro]

Yt channel? 😲😲More money coingecko 😂😂😂

[@zuzoscorner]

STep one: don't invest in crypto. step two : profit

[@g.cakmak]

next rug pull, safuu

[@sae_jon]

I got rugged😢

[@LeroySusan-ip7rf]

*Briskdeft* your dedication to combating these fraudsters is truly admirable. We must go above and beyond to ensure the safety of the elderly and the wider community by taking decisive action against these despicable individuals. You truly deserve recognition for your invaluable work! !!🎉

[@truspoken3453]

Saita realty is a HONEY 🍯

[@cryptowolf4471]

Saitama???

[@tk3828]

I don't think so. They released a wallet didn't they?

[@cryptowolf4471]

@@tk3828 There's always a backdoor; and have you heard of what some scamers do to the liquidity pool. When there's not enough money in it. To give everybody's money back; you start robbing Peter to pay Paul. Never mind you wouldn't understand.

[@tk3828]

@@cryptowolf4471 don't get emotional

[@cryptowolf4471]

@@tk3828 😆 I have learned to play the game of crypto 😎 😏 .

[@user-os4ye8yc3h]

Impressive achievement *VortexTrace* It is impressive to see how actively you engage with these setbacks. We are committed to taking every possible action to protect both the well-informed individuals and the broader population from these abominable clowns! I admire and praise you greatly! You deserve the Nobel prize for ensuring our safety. Show support and admiration to the family…..

[@goodluckraphael3344]

Sadly, people will still never learn.

[@CoinGecko]

Crypto takes time to learn, never ending journey ;)

[@marchosta9972]

Podrían poner subtitulado en español

[@guscast557]

Qué tal si aprende algo de inglés? :)

[@marchosta9972]

@@guscast557 Perdón por no tener un nivel alto de inglés

[@alf8718]

Well, I don't have time to watch the whole video, but from the title I can answer to anybody (still) sane. "How To Avoid Crypto Scams?" Well, by not participating in ANY of crypto bussinesses! They are ALL scams!

[@petkonethan6161]

appreciate the knowledge you shared with us. As someone who is curious about recovery, I like that you display the tools you use to research a company before making a decision. Now that someone is demonstrating to the world how to protect themselves, it's a difficult decision to make and game to play, therefore knowing this information is crucial. Thank you for allowing me to share this with the KZbin community. We cherish you. *All-encompassing-Dispute*

[@mark-bi2in]

who else is here because of milady

[@cryptomaniak19]

Is #pigfinance #pig a crypto Scam? Because I bought it and a few months later I was 98% down!!

[@thevikingdadberserker8508]

Well I guess all the fudders were wrong... #safemoon doest fit any of the criteria like they say! Not financial advice but I'd go buy a bag...

[@adedayoezekiel8698]

Good luck to you then

[@thevikingdadberserker8508]

@@adedayoezekiel8698 well thank you fine sir!!! I'll be golden! Where will you be?

[@Thatannoyingvoicetoldyoutodoit]

You mean the safemoon that's continually loosing value day by day?

[@thevikingdadberserker8508]

@@Thatannoyingvoicetoldyoutodoit I mean the safemoon that is changing the world and the value currently is doing the same thing every crypto currency is doing. But if you did your own research before saying anything, you'd know that.

[@Thatannoyingvoicetoldyoutodoit]

@@thevikingdadberserker8508 the difference being, that safemoon was trending downwards long before the entire crypto scene started its bearish trend.....

[@supriyadiyadi9877]

This message not iam understand language🙏🙏

[@jerrysmith2828]

This is more than I wished in a lifetime $80k recovered at once!! Thanks for the recovery service!

[@andreimilovanov1363]

Next time, please, make subtitles instead "funny" animation and pictures insertion. I understand English quite well, but it was a bit hard ro get the point sometimes. And truly said, hire another person to read the text, sorry guys, but my ears are bleeding now. But anyway, thanks for video!

[@frank347coley]

My eyes are bleeding from reading your comment. If you can understand english "quite well" then you don't need subtitles.

[@sealsfamily62]

Tender ears

[@LinksPB]

The video actually has subtitles that can be activated... ?

[@kimwest106]

Way too high pitch voice and high pitch sound effects. Can not listen. Where are the rights of people of sensitive ears? Should I write to UN?

[@z0rrer0]

Voice is really annoying :-\

[@augustinhodoalgarve6366]

Buy and hold ANCAPTRADER (ANCPR) rewards for all horlders! No rug pull!

[@jerrysmith2828]

This is more than I wished in a lifetime $80k recovered at once!! Thanks for the recovery service!

[@jerrysmith2828]

This is more than I wished in a lifetime $80k recovered at once!! Thanks for the recovery service!