The cryptocurrency market is no stranger to scams, with many people falling victim to fraudulent projects. The most famous of these was the infamous Ponzi scheme BitConnect, which had investors losing millions of dollars when it suddenly collapsed in 2018.
Now, it appears that the same type of scam could be making a return to the crypto space. This time, it’s through the form of a “smart contract” called “Smart Contract Token.” This project claims to be a “fully decentralized and autonomous organization” that will allow anyone to create their own digital tokens.
However, many people have noted that this project looks suspiciously similar to BitConnect. It promises investors a guaranteed return of up to 10% per month, which is highly implausible and likely to be a scam.
Furthermore, the project has no whitepaper, no real code, and no real product. It’s also been noticed that the website is registered to an anonymous person.
It’s worth noting that these types of scams have been around for years and have been popping up in the crypto space for a while. As always, it’s important to be vigilant and do your own research before investing in any project. It’s also important to remember that if something looks too good to be true, it probably is.
