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Redditor Launches ‘Yelp for Crypto’ Website for Reporting Scams, Anyone Can Contribute

  • Yuri Molchan
    📰 News

    The Crypto Canary website allows adding feedback about crypto projects, rating them to prevent users from falling for crypto scams


Redditor Launches ‘Yelp for Crypto’ Website for Reporting Scams, Anyone Can Contribute
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A few hours ago, a redditor named u/stellarowl12 published a post on Reddit saying he has a special new project going which aims to provide a platform for telling crypto scams apart from honestly working platforms.

The new Crypto Canary website allows rating platforms and leaving necessary feedback so that investors do not fall for the numerous crypto scams that are around at the moment and do not lose faith in the industry overall.

Crypto Canary


The idea was floating in the air

The redditor believes that scams are a great factor that prevent crypto from worldwide adoption by giving the crypto industry a bad name and making people lose their money. The projects leave and never come back.

At the same time, the person points out that in numerous groups on Telegram, Twitter and Reddit, people keep warning each other about traps that crypto scammers set for newbie investors. But these messages are hard to come across for those who are new to the crypto industry and basically do not know where to look. Many new investors fail to find these warnings or when they do find them, it is already too late.

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Crypto Canary

The website allows anyone to register and add a description of a crypto project they feel necessary to encourage users about or warn them against. Each gets a certain degree of being ‘shady’, based on the website’s criteria.

For example, Apollo Currency is marked as being 63 percent shady. BitTorrent – 67 percent, Ethereum Classic – 38 percent, Tron – 58 percent shady.

Crypto Canary

Each added project does not have many reviews so far, just 2-3, and it is not clear how this feedback can be checked to be trusted.

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Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
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It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

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Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

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Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

'Bitcoin symbol and graph.Vector illustration.' image by 123rf https://ru.123rf.com/photo_69329295_bitcoin-symbol-and-graph-vector-illustration-.html?term=bitcoin&vti=njv6v7w01tymanucm1-1-82
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