A look at TokenSniffer, a website tracking cryptocurrency scams that claim to have tracked 42,071 tokens and 2,250 scams or hacks as of June 16 (Bloomberg)
“TokenSniffer is a community-powered website that tracks scams, hacks, and fake cryptocurrencies. We’ve built a powerful platform that lets anyone report a token they believe is a scam. This tool provides transparency into the industry so people can get accurate information and make better decisions when investing.” So, how do you protect yourself against being scammed by a cryptocurrency con artist? One company is helping people to avoid the worst mistakes. They’ve created a website called TokenSniffer.com, which gives you all the information you need to tell if a coin or token is legit. Here’s an example of the information the site can give you: “Coinbase claims that a real asset backs this currency. It’s not. This is just an empty promise.
What is TokenSniffer a website tracking cryptocurrency scams?
A look at TokenSniffer, a website tracking cryptocurrency scams that claim to have tracked 42,071 tokens and 2,250 scams or hacks as of June 16. TokenSniffer looks at over 4 million websites to see whether they offer crypto or ICO tokens. The site shows how many of those sites are actively selling tokens, how many are just promising a token sale, and how many are just accepting cryptocurrencies as payment. TokenSniffer is a crowdsourced, anonymous database of the worst crypto scams. It tracks new and established scams and reports them to law enforcement, cryptocurrency exchanges, and the general public. The project is run by a pair of former FBI agents who have taken to tracking crypto-fraudsters and believe that the industry is rife with scammers who use social engineering techniques to con innocent investors.
How TokenSniffer claims to have tracked 42,071 tokens?
A look at TokenSniffer, a website tracking cryptocurrency scams that claim to have tracked 42,071 tokens and 2,250 scams or hacks as of June 16. TokenSniffer is an excellent example of how an individual can use social media to his or her advantage. Since early April 2014, the site has claimed to have identified 42,071 cryptocurrency scams, including more than 1,800 ICOs, 4,000 Ponzis, 2,100 pump and dumps, and 1,500 phishing sites. A lot of scammers use the same patterns, and their techniques are so similar that a lot of times, you can spot them by just looking at their ads. But the scammers usually change the message a bit, making it hard to figure out exactly what they’re doing. It can be quite a challenge to keep track of all the various scams because they are constantly coming up with new ones.
What’s the best way to stay safe while using the site?
Token Sniffer’s mission is to make it easy for any investor, regardless of experience or familiarity with cryptocurrency, to understand whether a given crypto investment is legitimate. To achieve this goal, the team focuses on developing a set of indicators that will help investors to assess whether a crypto investment is worth their time and money. The Token Sniffer team also wants to make it easier for investors to understand the regulatory landscape of cryptocurrencies, thus providing them with a more holistic picture of the market. TokenSniffer is an excellent resource for checking websites and web apps for suspicious activity and bad behavior. However, it would help if you never gave your private keys to any website or web app.
Conclusion
In conclusion, A look at TokenSniffer, a website tracking cryptocurrency scams that claim to have tracked 42,071 tokens and 2,250 scams or hacks as of June 16. TokenSniffer is the first project to tackle a problem that has plagued the crypto community for years. The problem stems from the fact that not many people are aware that scammers are looking to rip people off and steal their money. Most of these scam attempts come through emails and social media. So, we are looking to create a tool that people can use to monitor their accounts so that they are alerted whenever their accounts have been targeted.
FAQs
1. What’s the deal with the name TokenSniffer?
TokenSniffer is a website that tracks cryptocurrency scams. It was started in January 2017 by a user named “Bobby” who wanted to see how many scams there were in cryptocurrency. He has since been joined by other users who have taken up the task of keeping an eye on the space.
2. How did you come up with the idea for TokenSniffer?
Bobby came up with a site where people could submit information about scams. The idea grew from there.
3. How do you decide which scams are included on the site?
We take submissions from the public, then decide which ones we will include. We only include scams that scammers are actively using. We don’t include scams only being discussed on forums or social media.
