Gem or Scam: AiTraderGlobal investigation

Recently, I heard about the AiTraderGlobal project from several people saying that they got $180-300 on the referral program. I was curious if it was a gem or a new scam.

In this article, I’ll share my investigation so you can be aware of all of the risks, and we will go through such topics:

• Twitter Analysis
• Token Analysis
• General Website Analysis
• Verify Section

Twitter Analysis

I’ve decided to start by checking the Official Twitter of the project. At first sight, 562. k followers look solid. The account was created on 17.02.2023. I’ve analyzed this Twitter account through the Tweetscout tool, and here are the results:

They gained +23k followers this month, but the overall score is not the best.

If we would have a look at the content they are posting, we would already find something suspicious. Here are a few examples of tweets:

Red Flags here are:

• The difference between IDO and Launch price is x50, which doesn’t look realistic at all.
• Screenshots from the Binance DeFi make people think that token is listed on the Binance, but it’s not! Binance DeFi is a DEX that could show any token, such as PancakeSwap, Uniswap, etc.

Token Analysis

Next, let’s check the contract address on the DexTools:

The chart looks really nice, so you could think it’s a new gem! Although, the smart contract report doesn’t look so nice:

We have a honeypot token which means that anyone or only whitelisted addresses could sell tokens. We see sell orders on the chart and in the order book; hence there is a list of addresses that make this market-making to create a nice-looking chart.

Due to the info about the holders, there are two addresses holding 5% of the supply each. And the whole presale is planned for 13%.

General Website Analysis

Now let’s have a look at the website, how it’s made, and analyze the info stated there.

On the front page, we have THREE call-to-actions:

• To take part in the IDO

• To take part in the referral program and gain 10%AIT+10%BNB as a referer Reward

• To verify our wallet as soon as possible

  
  

Next, we will see a typical list of “partners” that includes some popular brands to gain people's trust. You can be sure that they don’t have any agreements with any of these companies.

In the tokenomics section, there is no chunk for the initial liquidity, but there is “sugar” instead.

And my favorite part of the AiTraderGlobal website is the Audit section:

In general, the website looks like a bought template with AI-generated texts; all notifications are done with system alerts, which looks cringe in 2023.

Verify Section (⚠️Scam Alert⚠️)

If everything stated before were just assumptions, this thing is solid proof that this project is a scam. One of the call-to-actions on the front page was to verify your wallet, as well as there were numerous tweets saying to do that immediately.

Verify page says that there is a lot of airdrop cheating; hence they want you to verify your wallet to be able to claim $AIT after launch.

But when you click on the verify button, you get an IncreaseAllowance transaction for submission in the Metamask that will allow AiTrader to spend BUSD from your wallet!

If you already interacted with Verify section of AiTraderGlobal, then use a tool like Revoke.cash to revoke spending approval, not lose your BUSD!

Conclusion

To sum up, AITraderGlobal has a lot of red flags and for sure is a scam. You will lose your investment made during IDO. Moreover, you will lose all of the BUSD that you have in your wallet as well. So always do your own research before investing in any project, and don’t forget to follow me for more investigations and tips on how to identify a scam!