Unverified Data & Risk of Scams

Problem:

Web3 is flooded with unverified data, misleading claims, and speculative hype, making it difficult for users to distinguish between legitimate opportunities and scams. Many rely on scattered sources like social media, forums, and AI models prone to hallucination, often receiving outdated or inaccurate insights.

Bad actors take advantage of this information gap, spreading misinformation to manipulate token prices, promote rug pulls, or lure users into fraudulent schemes. Without a trusted, real-time data verification system, users are vulnerable to making costly mistakes, losing assets, and falling victim to scams.

Impact:

• Increased financial losses due to fraudulent projects and misleading data

• Difficulty identifying trustworthy sources in a sea of misinformation

• Hesitation to engage with new opportunities due to fear of scams

• Erosion of trust in Web3, slowing adoption and participation