The Ongoing Token Presale Failures And Scams On CoinList

By Cryptonator`s | Cryptonator`s Shitcoin Collection | 15 Jul 2024

I published an article about "Red Flags On CoinList: Is The Tribal Token Presale Scam Just The Tip Of The Iceberg?" a few weeks ago.

Since the Tribal Token presale scam, numerous token presales on CoinList have exhibited similar alarming issues, leading many users to label these events as scams.

Immediate Price Dumping

A recurring problem with token presales on CoinList has been significant price dumping immediately after the newly issued tokens are listed. This happened frequently and it is not a one-time event.

Many investors have noticed that the value of tokens often drops shortly after they become available for trading, resulting in significant losses. This pattern has raised suspicions of market manipulation and the integrity of the whole presale process on CoinList.

Where Are My Tokens?

Another major issue has been the failure to distribute tokens on the scheduled dates. In several cases, investors have reported that tokens were either significantly delayed or not distributed at all. For example, participants in the $NEAR token sale on CoinList faced confusion and delays, with many users not receiving their tokens as promised. This has led to frustration and a loss of trust in the community. In the case of Tribal tokens, they will never be distributed.

Disabling Withdrawals And Entire Accounts

In addition, CoinList has frequently experienced technical issues, which further exacerbate these problems. These include disabling deposits and withdrawals, system upgrades causing account access issues, and strict KYC requirements that cause users to lose access to their funds entirely.

Shitstorm for CoinList

As you can probably guess, the community response has been extremely negative, with many expressing their dissatisfaction on social media. Every CoinList announcement on platforms like Twitter is followed by a significant backlash, with users sharing their negative experiences and accusing CoinList of failing to protect their investments and provide adequate support.

As the shitstorm for CoinList on Twitter does not stop, they restrict their tweets so that no one can reply anymore. Shitstorm muted, the scam continues.

My Final Conclusion

Given these ongoing issues, you should be extremely cautious when participating in CoinList token presales. Even better: Refrain from participation in token Presales on CoinList altogether and let them go.

Finding alternative, more reliable platforms for future investments could be a much safer approach to making a profit from token presales. For future token presales I will stick to those trusted ones on well-established platforms like Binance and KuCoin. If, for some reason, you haven't registered on Binance yet to participate in legit token presales, feel free to use my referral link with the invitation code E3PGAJCE to sign up. By using it, we can save on trading fees for every Binance trade, creating a win-win situation for both of us.

What are your thoughts on this issue? Have you used CoinList yourself, and if so, what are your experiences? Please share in a comment.

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