After falling into a few pits in the crypto world, I’ve pretty much figured out the tricks behind those scam coins. Honestly, I’ve had some pretty harsh experiences being “cut” in similar schemes, and I want to share some identification tips—at least to help friends avoid unnecessary detours.

The methods used by these scammers are actually very old tricks: they rotate multiple wallet addresses to buy in turn, creating the illusion of a 100% or even thousands of percent increase within just a few minutes. Watching the market look so lively, whether you invest a few tens or hundreds of dollars, as soon as you enter, the other side will dump the price within seconds. Usually, this is backed by automated programs written by scammers—once they detect someone buying, they immediately execute a dump logic and run away with the money.

How to identify them? The most straightforward way is to look at the concentration of coin-holding addresses. Going deeper, check the top ten addresses: see their holdings. If the wallets only contain this coin and the basic tokens used for network interaction, it’s almost certain that this is a scam coin—decisively exit without hesitation. I’ve used this trick several times, with an accuracy rate close to 100%.