Amazon Release Their Own Cryptocurrency Along With A Wallet | Here is Why You Should Not Invest

in LeoFinance3 months ago

We saw Aptos with its Facebook's Diem lineage come to market. Even Telegram's TON is now alive and being traded. It makes sense to see tech giants wanting to get a piece of the pie that is cryptosphere. They are not looking to create a truly decentralized future. What they are looking for is to recreate much of their own power structures within the Web 3 without subscribing to e the ethos that helped the birth of a trillion dollar economy out of thin air through innovation and free markets.

Introduction From CoinMarketCap

The Promise of a "Tech Giant"

All these details and more can be found on the official website https://amazontoken.io which has FAQ, contact details and E-mail newsletter you can subscribe to.

You Must Not Invest in This Scam

I'm not saying this because I hate Amazon. I have my disagreements with the way Amazon is doing business. I have my problems with Jeff Bezos. The reason I tell you not to invest in this Amazon Token covered by Verified CoinMarketCap Channel is because it is a scam.

Another Reason Why "Blue Check Mark" Means Nothing

The color may change from blue to grey. The virtue signaling might die down a little with these verified accounts. The poorly maintained and implemented "Verification" meaning next to nothing will remain the same for a long time to come. Without truly decentralized infrastructure and individuals owning their own accounts, these farces that are employed by these tech giants will mostly be lipstick on a pig.

Financial Darwinism: Do Your Own Research!

The scammers are getting very good. It makes sense for a CoinMarketCap Channel to have 124K Subscribers and have only few thousands views on a video uploaded a day ago. In fact the real view counts on the real CoinMarketCap channel is a fraction of the fake channel.

Even the presentation of the video and the https://amazontoken.io website are well done to fool anyone not interested in digging deep before they invest. The hype can blind many.

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The website does not have much of a history. We might be able to see some analytics later down the road for this scam. What is important is not running towards a surveillance state solution to fight scams like this.

Simple Red Flags That Got Me Thinking

  • Odd Token Name (AMC5T AMCR12) that goes against the usual way normie facing corporations do their business
  • Token Distribution that make sense for regular cryptocurrency project; but not a tech giant like Amazon that is well known and well funded
  • The Token is not sold out yet! How!!!
  • There is no Whitepaper
  • Amazon is embracing this whole crypto thing way too fast
  • Why not use https://aws.amazon.com like website with Amazon.com domain

It all made sense once I checked the YouTube Channel and found only one video. This was likely a hacked account or an account that has 124K bots subscribed to it.

A Brave Search Shows Months Long Scam

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Another one of those useful perks of being a part of Brave ecosystem is having your research made easier bringing important conversations about a topic easily explorable. Not only Google and Bing offer censorship and surveillance; they are also offering a worse search provider service on most occasions.

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Self-Ownership, Personal Responsibility and DYOR is The Only Antidote

If everyone does they own research to verify claims instead of relying on authority figures such as a brand name, a "Verification" or a fancy looking website/sales pitch, we can have a better future with more vigilant individuals.

It is hard to scam those who are willing verify things on their own. We have been correct on so many things on COVID-19, lockdowns, economy, expansion of surveillance state and many more. This is a decentralized system that cannot be easily taken over by some elites.

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I was literally like what is going on!

Such a big news and I have not heard about anywhere or nobody is really talking about this sort of news and that even happening in a bear market! So many questions were there for to answer but coming to the point and after going through the post all of them are cleared lol

Due to my past investments nowadays I do try to stay away from any outside investments. Mostly to those which are not likely. In the past I used to literally jump on anything that seemed attractive and some people were behind it! But all those literally have changed for me!

While yeah but unfortunately there are people who easily fall for these sort of scams and end up loosing money. Its kind of unfortunate as due to these sort of reasons people loose money and blame crypto being a scam and all sorts of allegations are driven towards cryptosphere. I just hope people do not fall for any of these scams and end up losing money.

Which is why better to do Research of our own at all times!

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There is likely less and less number of people falling for the old scam techniques. There has been a lot of attention that has been put into this Amazon Crypo scam. If these people poured their effort into a genuine product, they might actually succeed. They may not make as much money as a scam, but those behind the scam do have real talent.

What we can do is to make sure to do our research and educate as many people as possible. The reason I started out the article as if it were a real event is because I wanted readers to feel the experience of coming across a scam that look legitimate at first glance.
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I would never trust amazon to control a crypto wallet for me and I am not surprised to see all the scams. From what I have seen, any big channel will have a similar scam such as Mr. Beast scams, stock scams and a bunch of others one. You would think that they would start removing them because it should be part of their ad system.

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These scammers have upped their game now. I can see some people falling for it. The'd think sell out will happen fast and spend some crypto to buy into scam. I'll be extra careful in future! I've got to up my DYOR game too 🔎 !PIZZA

Eventually these scammers will end up becoming closer and closer to Bitconnect and others like it.

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Though I have nothing to invest to... thanks for the heads-up anyway XD

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