The cryptocurrency market hosts several questionable projects that persist despite significant controversies and price drops. Crypto investigator ZachXBT has criticized events like Token2049 for vetting sponsors poorly, identifying companies such as JPEX and HyperVerse that leveraged sponsorships to project credibility before collapsing amidst fraud investigations. Key factors contributing to the survival of these shady coins include speculative trading, dedicated communities, low market liquidity, and periodic hype from influencers and social media. ZachXBT highlighted five dubious projects: Spacecoin, JuCoin, Weex, DWF, and Bitunix, each facing controversy regarding their operations, regulation, or history. For novice investors, it’s crucial to recognize red flags, such as anonymous teams, aggressive marketing tactics, and unclear tokenomics, to avoid financial loss. Shady coins often attract investors with bold promises while masking manipulative practices and weak fundamentals, thriving on community-driven dynamics within the unpredictable crypto space.

Source 🔗