A wave of scams – put your life jackets on!

Written by Anna Komashko
Written by
Investing reporter
ECOS community manager...
< 1   min.
Actual news 

It’s crypto winter now and the bear market is ruthless, so there is a wave of scam projects which just stopped providing their obligations!

The cloud mining providers chickenfast and shamining are scams now. The websites are not opening, there are a lot of negative reviews from users who just lost all their investments!

Even some large real infrastructure projects fail now: Compass Mining, a well-known firm, lost its Maine-based facility after being unable to pay its bills on time!

All these projects offered cheap prices and promised high returns very quickly. But in fact, this is hard to be implemented and you need to thoroughly analyze and assess the project that you plan to invest in.

ECOS is operating since 2017 and we are gradually developing. We don’t promise huge profitability. We all know that in crypto you need to be patient with the bear cycles as when the bull run starts profitability will be gained.

Here are some tips for you to avoid scam projects:

  1. Make sure there is an active online presence of the project (different social media) and a transparent website. Pay attention to how much effort are made to create different useful content.
  2. Use tools or apps such as contract analysis bots or honeypot testers. Some are available right in Telegram.
  3. Look at transaction history for warning signs such as no selling history or sell history exclusive to one or very few wallet addresses.
  4. Communicate! Do not be afraid to ask questions about terms of the project, look for some evidence of the real infrastructure behind the project, if relevant.
  5. Read the reviews and select the most trusted crypto projects!

If you want to try BTC mining for free, then register on ECOS platform by pushing the button below

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