The world of cryptocurrency has attracted its fair share of scammers, and success often seems to draw them like a magnet. Unfortunately, it's all too common to receive tempting offers of exorbitant staking rewards or other benefits that appear too good to be true. In order to safeguard your investments, it's essential to conduct thorough research and exercise caution before investing in any cryptocurrency. The mantra of "Do Your Own Research" (DYOR) is particularly relevant in this context.
To ensure that your investments are safe and legitimate, it's advisable to purchase Dingocoin exclusively from Official Exchanges that are listed below. While this is not intended as financial advice, it is simply a matter of common sense to prioritize safety and security when investing in any cryptocurrency.Tips To Spotting A Scam
These entities are NOT affiliated in any way with the Dingocoin Project.
Be sure to Do Your Own Research (DYOR)
Tips To Spotting A Scam
Udonex - Udontrade - Udondax - DoofinanceDOTcom - NASADAX - BitxOnex - BitConEx
This fraudulent cryptocurrency exchange has a track record of taking down and modifying its website periodically, only to resurface under a different name. It employs a range of strategies to entice unwary investors to its platform, offering substantial returns on investment. Regrettably, once customers deposit their funds, they encounter difficulty in accessing their accounts or retrieving their funds. This kind of deception has resulted in significant losses for many investors, who are unable to reclaim their money.
Dingo Token -old, Dingo Token -new
Researchers at IT cybersecurity firm Check Point security have flagged Dingo Token as a ‘potential scam’.
It inspected a smart functional contract that allows the project's owner to alter the trading fees per transaction up to 99% of its transaction value.
This is alarming because the transaction fee of 99% when broken down is 95% tax and 4% liquidity fees, leaving the buyers with the remaining only 1%, to add to it there is absolutely no way to reverse the transaction.
One such case that caught wide attention, observed by the IT security firm was about an investor who spent $26.89 to purchase 427 million Dingo Tokens but instead received 4.27 million, or $0.27 worth of Dingo tokens.
This is contrary to Dingo Token's rising popularity, where the project's website doesn't contain much information about the owner, and the published "tokenomics" white paper only mentions a 10% (5% + 5%) transaction fee.
The Dingo Token is charging transaction fees up to 99% instead of the officially declared 10% through a code behind a backdoor function “setTaxFeePercent” that changes the contract’s buying and selling fees by up to 99%.
Researchers have already seen multiple fee changes on the Dingo Token network 47 times. While the 47 cases seen by Check Point aren't enough to impact the broader investors' base of Dingo Tokens, they could be a test run by the operator, who can apply the function change on all holders and cash out quickly when the token reaches its maximum price.
Source: Coingabbar. “Dingo Crypto Token Charging 99% Transaction Fee, Flagged as 'Potential Scam'.” CoinMarketCap, https://coinmarketcap.com/community/articles/63e33aebdc4e386cc023fc45/