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Crypto Weekly
Crypto Scams How to spot one
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n the current Defi Crypto world we live in, is there any two words put together more than Crypto and Scam? The digital world is one most are struggling to come to terms with and when it comes to digital finance it sends shivers down the spines of the average person. What has caused digital currency to have such a stigma? Well, it is all the stories that circulate around from the people
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who have had money stolen through online crypto scams. It is these stories that need to be analysed to be able to see how the scams were carried out and how the investor could have avoided becoming the next victim of a scam. There are so many different variations of a scam in Defi Crypto. The most common is a Rug Pull. However, this is not the only way to get an investor to
hand over their hard-earned money. As the use of social media is a massive part of any crypto project the new wave of scammers run riot in here, from a simple false Telegram Group posing as one you may currently be active in to pretending to be a member of the Development team. I personally have been caught out by a scam Telegram Group posing as a group I was in and offering a deal
February 2022 | Volume 15
