Currently, the most high-profile scams in the crypto community are GEMDigital and 5ire. These projects trick the community into thinking they are involved with a lot of VC support for the project. As the community puts money into the project, these businesses make a profit, causing digital currency stocks to crash, causing sharp ups and downs.
GEMDigital, a fund related to GEMGlobalYield, has invested in at least 16 projects in the past six months, including VeniceSwap, Nation, KajLabs, Unizen and H2OSecurities, with a total commitment of more than $1.6 billion.
However, team members of these projects said that the GEMDigital investment agreement is more like a cooperation and sharing agreement. The two parties sign a so-called large-scale investment agreement to create good news in the market, and then cooperate to make profits and share. .
5ire claims to have received $100 million in Series A financing. The news has been posted on his website and blog. Funding, however, comes from his website and blog. GEMDigital, this is doubtful, because this is not an investment commitment, but a cooperation and sharing agreement.
Today, MeasurableDataToken (MDT) appears to be a brand new project that investors should keep an eye on, as its price is up 52.43% in the past 24 hours, according to CoinMarketCap. It is worth mentioning that the market value of MDT is 30 million, but its investment has increased by 100 million US dollars. This is a major red flag that investors should be aware of.
