AnalysisCryptocurrency news

This Altcoin Has Scammed All Its Investors And Escaped!

Investors lost all their money, the price of the token fell 99.8%.

This Altcoin Has Scammed All Its Investors And Escaped!

Every day we share a new rugpull news. Scammers can now be hunted much more easily in the cryptocurrency markets. Thanks to the advertisements made for a few thousand dollars, they can reach that audience who is ready to invest in any project they see. As we have warned countless times before, investing in cryptocurrencies is extremely risky and you could be the target of scammers. That’s why you should research the project you will invest in very well.

MekaMiners (MEKA) Rugpull

The MekaMiners ( MEKA ) token, which can be purchased through PancakeSwap, was minted on the Binance Smart Chain . It was launched 5 days ago and rose rapidly from $0.18 to $0.25. It has been moving between $0.18 and $0.22 for several days. Since its total supply is only 200 million units, investors thought they could make money from this token very quickly. However, it did not turn out as they expected.


According to the post made by CertiK minutes ago, the developers of MekaMiners (MEKA) sold all the tokens and disappeared with 641 BNB. The price of the token has dropped 99.89%, reaching $0.0001907 at the time of writing.

It Might Be a Matter of Time to Get Scammed

Metaverse , NFT, game and altcoin , when all these words come together, do not immediately see a dollar sign in your eyes. Whatever the current trend is, scammers are taking this exact issue to themselves. Over the past year, meme tokens and community-focused projects have been trending, and we’ve seen countless meme token scams. In the upcoming period, we may witness the disappearance of too many “game” projects.

There are now more than 17 thousand altcoins in the cryptocurrency markets. Investors’ appetite for altcoins is waning and they’re turning to newer NFT -focused and metaverse ambitious gaming projects. In the past year, several altcoins were entering the market every day. These days, new game projects are popping up every day. How many of these projects will reach their goals? How many of them will disappear by defrauding their investors before completing 1 week like MEKA.

Investing in a project early can bring you serious returns, but you can also lose all your money, as you can see in the MEKA example. If you do not consider yourself competent in research and investment evaluation, do not invest in certain pre-sales. Go for less risky investments that have a firm footing on the ground. In addition, it should always be your goal to get your capital out of the short term, whether a project has increased 70% or 700% from the level you invested in, you should reset your risk by removing at least your capital from the system.

Be sure to learn to use stop loss, you have a low level that you cannot tolerate. Let’s say this is below the 30% cost, learn to leave the project by setting your final limit so that you can save at least some of your money.

Samuel Hegi

Samuel Hegi , who first became acquainted with blockchain technology in 2014, is highly critical of blockchain technology. Samuel Hegi, a journalism graduate from the University of Brighton he is the editor-in-chief of the news portal. Blockchain is love.

Leave a Reply

Your email address will not be published.

Back to top button

Enter your email address:

Delivered by FeedBurner