💵 Hey, if you think you can make 2000$ a day passive income with blockchain arbitrage, read this post!
If I managed to get your attention, please know that no, you CAN'T make 2000$ a day with arbitrage bots in blockchain and anyone who's telling you that you CAN is trying to SCAM YOU. 💀
Okay, let's reinforce these ideas:
-No, you can't make passive income with blockchain arbitrage bots. Or whatever they are called in your context.
-Anyone who tells you you can make passive income with arbitrage bots is trying to STEAL YOUR MONEY.
🚩 But how does the scam work and what are the red flags to look out for?
It is simple. You see a blog post or a Youtube video (especially a video honestly) that claims to show you how to deploy a smart contract that handles arbitrage trading. This is the biggest red flag, I cannot stress enough that you cannot possible do arbitrage trading without serious, and I mean serious serious knowledge in the field, let alone write a bot for it... Anyway, this is the biggest red flag. Then, it is generally a white, beautiful/handsome person who starts by telling their story, how they were struggling with finances and how they found out this technique and how they want to repay the community by teaching you how to be financially independent and so on and so on...
Also, the video is filled with comments how the technique really works and how people are making super profits and so on. They're all BOTS. NOT REAL.
They give you a code, and a link to remix-like online IDE where you can copy-paste the code and run the "arbitrage bot code". The code itself looks super confusing, difficult to understand even for seasoned developers because it is intentionally obfuscated. It might contain lots of functions with comments explaining how it integrates with Uniswap and so on and so on but that's all bs, most of those functions are not even called. There is one function that is important, and it is an obfuscated function that takes all of the money you put and transfers to the scammer's address. That's it.
Now, Patrick Collins from Cyfrin recently made a hilarious video about that scam. Just check it out, he's super funny and the wig looks hilarious on him! PS: The break-point of the video is at 3:38 😉 => https://www.youtube.com/watch?v=xJaPrnI7LAA&ab_channel=PatrickCollins
Things to look out for:
- There is only one address for remix ide, and it is this => https://remix.ethereum.org anything that is different from this link is a scam.
- Do not paste code you do not understand.
- Do not paste code you do not understand, seriously.
- You cannot make money with a blockchain arbitrage bot tutorial that you've found online.
- No, you really can't. I promise. It is super difficult to create an arbitrage bot and you, as a non-technical person, won't be able to do it watching a couple of tutorials.
- There's no free money.
Stay safe and don't let scammers end their day with a smile.
Top comments (0)