Recently, I have received many inquiries about participating in new coin offerings, and some situations are indeed concerning. Honestly, nowadays, blindly rushing into the crypto space for new listings significantly increases the risk factor. Especially for new investors, behind labels like "hundredfold potential" and "initial offering discounts," there are often carefully designed harvesting mechanisms.

Last week, there was a typical case: an investor successfully subscribed to a new project claiming to be in the "Web3 security track," with the project team coming from a well-known trading platform. As a result, on the first day of listing, the price was cut in half, with an account showing a 50% unrealized loss. An investigation later revealed that market makers illegally sold off large quantities, causing the price to plummet—retail investors ended up as the final bagholders. Similar incidents have been occurring frequently in the recent market. When the market cools down, various risks tend to erupt all at once.

Currently, the tactics for new listings in the crypto space are no longer just simple price battles but have evolved into multi-dimensional capital traps. To avoid falling into these pits, first, you need to understand the weaknesses of different new listing models.

**IDO (Decentralized Offering)**: On the surface, it appears to be a fair participation mechanism for everyone, but in practice, high-frequency trading bots have already preemptively snatched low-priced tokens. By the time ordinary users see the opening information and react, the price has already been driven up several times. When a correction occurs, retail investors are easily trapped.

There are also risks such as centralized platform issuances and secondary market breakouts, which require investors to have a clear understanding. The key is to learn how to identify the real needs behind the projects, rather than being attracted by superficial hype.