How to Protect Yourself from Scammers Like Monorix and $Smoke

In the world of cryptocurrency, scammers have found creative ways to deceive people through activities like mining, tap-to-earn schemes, referral programs, and farming. Projects like Monorix and $Smoke lure individuals with promises of easy rewards, only to later demand payment after you’ve invested your time and effort. Here’s how you can protect yourself:

1. Research the Project Thoroughly

Before participating in any mining, tap-to-earn, or referral program, conduct thorough research. Don’t take the project’s claims at face value. Investigate the project’s background, check for reviews from other users, and verify the legitimacy of the platform. A credible project should have transparent information and a history that can be cross-verified.

2. Evaluate Influencer Endorsements

Influencers can play a significant role in promoting these types of projects. Look into who is endorsing the project. Influencers like Viktor from TON Blockchain and Tola from Nigeria are well-known in the crypto community. Assess their credibility and past endorsements. Influencers with a solid reputation are more likely to back legitimate projects, but always approach with caution.

3. Examine the Project’s Partnerships

Legitimate projects often collaborate with established blockchain leaders. Check if the project has partnerships with reputable names like TON, Notcoin, Blum, Catizen, and others. While strong partnerships can be a positive indicator, be aware that scammers sometimes fabricate or exaggerate these connections to appear more credible.

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4. Beware of Post-Activity Payment Requests

A common tactic of scammers is to ask for payments after you’ve completed mining, tapping, referring, or farming activities. They may request 1 TON to “boost your earnings” or cover a supposed gas fee. These requests are usually fraudulent. Legitimate projects don’t ask for additional payments after you’ve invested your time and effort. Any such demand is likely a scam to siphon money from you.

5. Question Token Listings on Exchanges

Just because a token is listed on an exchange doesn’t guarantee its legitimacy. Some exchanges may not thoroughly vet tokens before listing them. For example, while BingX might inadvertently list scam tokens, more reputable exchanges like Bitget, Bybit, OKX, and Binance have stricter vetting processes. Be cautious and prefer using well-known exchanges.

Conclusion

Protecting yourself from scams in the cryptocurrency space requires diligence and skepticism. Scammers often target those involved in mining, tap-to-earn, referral, and farming schemes, promising rewards but later demanding payments. By following the steps outlined above, you can reduce the risk of falling victim to scams like Monorix and $Smoke. Always stay informed, trust your instincts, and remember that if something seems too good to be true, it probably is.

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