The world of cryptocurrency is rife with innovation, but unfortunately, it also attracts scammers. A recent incident involving Humanized AI, a project promising to revolutionize AI’s understanding of human perception, serves as a stark reminder for investors to be cautious.
Thank you for reading this post, don't forget to subscribe!Humanized AI offered HMZ tokens to users in exchange for their contribution to the project’s “unique information-processing efforts.” However, after raising a staggering $665,000 worth of Ethereum (ETH) over a single month, the project abruptly disappeared. All social media accounts went dark, leaving investors with nothing but empty promises.
This incident was flagged as a scam by Cyvers, a cybersecurity platform. The sudden shutdown and lack of communication are major red flags, highlighting the importance of thorough due diligence before investing in any crypto project.
How to Avoid Crypto & Web3 Scams
- Research the Team: Look for a team with experience and a proven track record in the field. Check their social media presence and online reputation.
- Scrutinize the Whitepaper: This document should clearly outline the project’s goals, technology, and tokenomics. Be wary of vague or overly technical language.
- Independent Reviews: Look for unbiased reviews from reputable sources before investing.
- Promises vs. Progress: Don’t be swayed by grand promises. Look for concrete evidence of the project’s progress and development.
- Invest What You Can Afford to Lose: The cryptocurrency market is inherently volatile. Only invest what you’re comfortable potentially losing.
Meanwhile, checkout our article on how to safeguard your crypto assets.
