5 Different Types of Crypto Scams
Adekunle Joshua
Rug pull scams: Rug pull scams are a type of cryptocurrency scam in which a project's creators or developers abandon the project after taking investors' money, leaving them with worthless or non-existent tokens.
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Social Media Scam: A social media scam is a fraudulent scheme in which scammers use social media platforms to trick users into divulging personal information, sending money, or clicking on malicious links
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Phishing Scams: Phishing scams are a type of cybercrime that use fraudulent methods to steal sensitive information such as login credentials, credit card numbers, and other personal data.
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Pump & Dump: Pump & Dump is an illegal investment scheme where fraudsters inflate the price of an asset through false and misleading statements before selling it off, causing investors to suffer significant losses.
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Ponzi Schemes: Ponzi schemes are fraudulent investment scams that use money from new investors to pay earlier investors, creating an illusion of profit until the scheme inevitably collapses, causing significant financial losses to most participants.
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