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The crypto space continues to attract innovation — but unfortunately, it also attracts scammers. One such project currently fooling users is Blombard BLM Token. While it appears to be a legitimate cryptocurrency project with a CoinMarketCap listing and smart contract, deeper inspection reveals it is a well-planned scam targeting users on Telegram, Trust Wallet, and BNB-based platforms.
The Trap: Telegram Auto-Trading Scam
Blombard starts by pulling users into their Telegram-based “auto-trading” group, where they promise users they can earn BLM tokens through automated trades. Here’s how the scam unfolds:
- Telegram Group Hype: The channel is designed to look like a live trading bot, showing fake transactions and profit updates to build trust.
- Initial Deposit Requirement: Users are asked to deposit $10 or more in BNB to activate the auto-trading bot.
- Fake Balance Growth: After sending funds, the bot fakes earnings, and users see an increasing BLM balance.
- Fake Withdrawal: Eventually, users are “allowed” to withdraw their BLM to Trust Wallet or another personal wallet — but that’s where the real trap begins.
The Token Itself: BLM is a Trap
After receiving BLM tokens in Trust Wallet, users naturally try to swap or sell them — but it always fails. Here’s why:
- Token has no real value: Despite being listed on CoinMarketCap, BLM has no price, volume, or liquidity. Trust Wallet shows the token with $0.00 value.
- Smart contract restrictions: The token is coded in a way that prevents selling, swapping, or transferring. Even using DEXs like PancakeSwap, all transactions fail or revert.
- But you still lose gas (BNB): Every failed attempt costs users gas fees in BNB, which the scam project counts on — you lose money trying to get rid of a worthless token.
How They Profit: Multiple Scam Layers
This is not a simple token drop scam — it’s a multi-layered scheme:
1. Telegram Deposit Trap
- They collect real BNB through Telegram’s bot pretending to be an auto-trader.
- There’s no real trading, just fake numbers and scripted bot replies.
2. Fake Withdrawals to Trust Wallet
- Users think they got paid when they see BLM in their wallet.
- The token is worthless, liquidity, and unsellable.
3. Gas Fee Exploitation
- Users attempt multiple swaps or transfers to get their funds back.
- Every attempt burns gas fees (BNB), slowly draining users’ wallets.
- Some advanced scam tokens even have smart contracts that redirect a portion of gas fees to developer wallets.
4. Psychological Manipulation
- Telegram admins and bots create false urgency.
- Some users are told to pay more BNB to unlock or fix their withdrawals — a common second-layer scam.
Red Flags You Shouldn’t Ignore
- No liquidity pool: If a token has no liquidity, you can’t swap it.
- No real price data: CoinMarketCap listing doesn’t mean legitimacy.
- Contract locked or suspicious: Check BscScan for token transfers and ownership.
- Telegram admins silence critics: If you question the project, you’re banned or ignored.
How to Check if a Token is a Scam
If you ever receive a suspicious token:
- Search the contract on BscScan.com or Etherscan.io.
- Look for:
- No holders or only dev wallets.
- No verified liquidity pool.
- Failed transactions from others.
- Try small swaps using a DEX — if every attempt fails, stop immediately to avoid more gas loss.
- Always verify on CoinGecko, not just CoinMarketCap.
- Report suspicious tokens to Trust Wallet and Binance Smart Chain.
Conclusion: Stay Safe in DeFi
The Blombard (BLM) token is just another example of how scammers combine social media manipulation, fake tokens, and deceptive smart contracts to rob innocent users. Never trust Telegram bots that ask for upfront payment or promise automated returns.
If it sounds too good to be true — it is.
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