1/ For those people asking why we always come up with "FUD" on projects on mint day. We generally have never heard of any of these projects, but we receive currently about 200 DMs per day. We had received between 5-10 about CerealClub and actually more than 5 about Bunny Buddies.
2/ That project is also minting today. All these individuals generally DM us on mint day or the day before to warn us that they think the project is a scam given their extensive experiences in the Discord. It remains very difficult to check if that is always the case, because...
3/ the people involved in these scams are master manipulators. They often have large followings on Twitter/Instagram/TikTok and there is a reason why they were able to do that. They are also often connected with other powerful influencers and they know all the tricks of the trade
4/ We can wait reporting this till after mint date, but as mentioned before, then it's too late. In the case of CerealClub, more than $11 million USD would be gone. Apparently some mentioned that the Dutch auctions was supposed to be 1 ETH, but they reduced it to 0.5.
5/ We have often compared this to spam email. How can you assess whether spam emails are truly spam? Do you have to fly to country XYZ to check if the person exists and has a bank account with $10 million USD that they want to share with you?
https://twitter.com/NFTethics/status/1489605649713582081
6/ Or are there certain characteristics that should serve as a red flags, in the same way that spam filters detect spam. There are so many projects coming out each day and alerting people is time-sensitive. After mint, it is not relevant anymore. That always is a trade-off.
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