Exit Scam : Red Flags and Prevention

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Hello friends, welcome back to this space, am super glad you came back again to check what I've prepared.I trust you had a great time going through the last publication. Well today's experience won't be any different as you will also be enjoying today lesson

We would yet look into the topic we discussed in my previous post on Exit Scams. We would be looking at how to identify Red flag and take preventive measures. This would really inform and equip us. Let's get into it right away.

• Extravagant and unrealistic Return projection: The bait of luring investors into the game has always been this extravagant returns. These returns are just so unrealistic and glaring but then because of the craze for this returns, we turn blind eyes to them.

When you're promised these kind of return, do not get overly excited, it's actually a call for caution, no well meaning project or company will throw money around like it's valueless all in the name of getting you onboard and contributing your quota. If it's too good to be true, kindly thread with caution...in fact run away!

• Ambiguous Road Map and White paper: Every well meaning project has a whitepaper, it a document that reveals how the project would function both in the present and in the future. It reveals in detail how the project would evolve and how it going to benefit everyone who buys into it vision.

Red flags/Prevention of Exit scams

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Now when you go through the whitepaper of a project and don't find it clear cut goals both for the present and the future, you need to take caution especially when you're looking to go with them for a long term. It clearly spelling doom because there is no road map. In other words it means they would drop you by the way side.

• **Non-Existent Working Model.
Here is another thing you have to be aware of, it's a test the project must pass, if not it should also be discarded because it might just be another bomb waiting to explode. A well meaning project should also have a working model that doesn't just end in conceptualization.

There should be something real about it, like product with use case and utility. Without any of these, I wonder what such project aims to achieve if not to swindle unsuspecting and ignorant folks. There should be something they are bringing to the table which is much more than theory. There should be an existing working model.

• Team Credibility: This point looks cheap but trust me, it's weighty. The credibility of those behind a project is very important. Those who have successfully worked with diverse project and have built name for themselves can be trusted but when you have bunch of new folks without track record of anything worthwhile, you need to be careful.

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Do well to research the team, am not saying team members looking to break into this space via a new project are all scammer, No! But am saying you need to check them out, check their handle, check for other project they have worked on and don't be carried away with the likes, and followers on their social media page, they could have been farmed. Just take your time to check them out before going all in with your money.

• Heavy Promotion: This could be another red flag one should look out for. Well, it's very okay to make noise about what one is actually doing but then when the promotion seem to be overblown with some form of desperation, you then need to thread with caution.

You know people go as far as paying blogger to help spread the new which is not really bad but then, take time to check and see if all they say about these projects are actually true. Failure to do a thorough research might cost you your hard earned money.

• Avoid following the Hype: The reason for the heavy promotion and announcement everywhere on the Internet is to hype the project. Do well to lay low and read in between the lines. Sometimes the very things that gets the buzz and the hype are not really the real deal. The goal is to lure you in.

They are playing on your pysology, they know people get to opt in on something that everyone is talking about. If you doubt me, ask those that FOMO on an hype and ended up regretting, theses folks are scattered all over the internet. Avoid following the hype as much as you can.

• Check the community: The community can also help reveal if there are reg flags. The community of such project comprise of many folks who would like to air their opinion concerning the project and it progress. There are people there who are more knowledgeable than you're, they could share their two cents for or against the project.

When all you get there are more of negative comments and experiences then you should be careful. These are people's review, telling you what you yourself could experience if you do not take caution. The bottom line is,if there are negative vibes and energy there, just take your mind of the project and exit.

Bottom Line

I believe by now you're duly informed and equipped on how to identify red flags and equally protect yourself from these fraudulent folks. Don't forget that everything you see has been scripted, they are only playing a script.

It's also important to mention that something they play it so well that it becomes difficult sometimes to tell, but doing your thorough homework will always reveal their plans. We all just have to be careful when we see offers that are too good to be true, it might just be a trap.

I want to believe you've gotten so much from this piece. As my usual custom is, I would always encourage that you DYOR to be sure of every financial step you would want to take as I won't be liable for any form of loss encountered by you.

Feel free to share with me your thoughts in the comment section. Thanks for your time once again. Gracias!

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^{Disclaimer: This post is made as an education and not investment advice. Digital asset prices are subject to change. All forms of crypto investment have a high risk. I am not a financial advisor, before jumping to any conclusions in this matter please do your own research and consult a financial advisor.}

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Regards
@lhorgic♥️

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