Hi all, recently I sent Ada to my yoroi wallet for the Ravendex project but there is also a project called Verlux. I have received my Raven token but if this not real then they will be worthless? How can these be verified to be real as the more I read and look into it the more I think they are not actual projects? Hope you are all well and thank you for any responses. And yes I hold Ada
The best bet is usually looking for the code and community.
If you cannot verify development work, team members, and activity from real people (as in something that is NOT bots and blogs) then the risk is significantly higher than the usual highly speculative nature of this space. If the first or only thing a project seems to be doing is asking for ADA they are 99% likely to be a scam or rug pull.
Count up the red flags as you see fit when you do your own research. I use a 3 strike system myself and RavenDex had about a dozen red flags for me. The only Cardano DEX projects I am following at this point are SundaeSwap, ErgoDex, and Occam. Even so I do not hold any of their tokens because they clearly are on the right track without any need for retail investors.