Yesterday, I made a list of projects I was researching and was to write on when I discovered that 3 of them were scam tokens. THREE! That made me realize how important it is to know how to spot scam projects, especially in a space where new tokens launch every day and everyone is shilling the next big thing. So, I decided to research the red flags to look out for, and here’s what I found. 1. CHECK THE PROJECT’S X ACCOUNT. When was it created? If the account is only a month or two old, investigate further. Check its posting history, engagement, followers and the team’s background. A new account isn’t automatically a scam, but hype and follower counts aren’t proof of legitimacy either. 2. LOOK FOR A WORKING PRODUCT. Some projects have beautiful graphics, big promises and ambitious roadmaps but no working product, not even a demo. There’s nothing concrete to test, so you’re basically writing about promises. Look for actual development, working products, verifiable deployments or evidence of progress. 3. INVESTIGATE THE TEAM AND PREVIOUS LAUNCHES. Research the founders and their track records. Have they delivered before? Have previous projects been abandoned? Some projects have already had a bad launch and now promise a relaunch. Before getting involved, investigate what went wrong, what happened to previous participants and what has genuinely changed. 4. USE THE RIGHT RESEARCH TOOLS. For projects on Robinhood Chain,check out @HeyResearch It can help you investigate available builder activity and evidence of shipped work. For token investigations, use the appropriate blockchain explorer and reputable security tools to examine contracts, holders and transactions. No single tool can guarantee that a project is safe. 5. INVESTIGATE THE TOKEN CONTRACT AND HOLDERS. Verify the contract address through official sources. Where supported, check for permissions that allow the owner to mint tokens, blacklist wallets, restrict selling or change important settings. Examine holder distribution, connected wallets and unusual transactions. A few wallets controlling most of the supply can create significant risks, although large balances need context before you draw conclusions. 6. CHECK LIQUIDITY AND SELLING RESTRICTIONS. Can liquidity be withdrawn? Who controls it? Can holders actually sell? Some malicious tokens restrict selling or impose extreme fees. Locked liquidity and verified contracts can reduce certain risks, but neither guarantees safety. 7. VERIFY CLAIMS AND SEARCH FOR COMPLAINTS. Check partnerships directly with the alleged partners. Read actual audit reports rather than trusting logos on a website. Search X using the project name, ticker and contract address alongside terms like scam, rug pull, can’t sell, and refund. Look for verifiable evidence, not just rumours. 8. TO EVERYONE HUNTING BOUNTIES AND CONTEST REWARDS: VERIFY FIRST. Before spending hours creating content for a project, investigate its team, product, contest rules and history of paying winners. An attractive prize doesn’t guarantee that the contest is legitimate. Protect your time and your reputation. P.S. You and I might still fall for the next scam. 😭 Nobody gets everything right, but the more we research and share credible evidence, the better equipped we become to spot the red flags.