Crypto Scams Are Always There. Avoid Getting Rug-pulled With These Tips
Cryptocurrency has captured the world’s attention after the pandemic, and notorious scammers have taken notice too. With the rising popularity of altcoins and meme tokens, there will be an upsurge of new crypto scams taking place on Telegram. What is a Scam? Scam, rug pull, you name it. They’re everywhere: Telegram chats, groups, fake communities. But what exactly is a rug pull? The next level. They happen when developers create a token paired with a valuable cryptocurrency, list the token on decentralized exchanges (DEXs), and then pull out all the funds. In simple words, a crypto....
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Major British bank Natwest has launched an alert to urgently warn its customers of cryptocurrency scams, which have been on the rise. The bank has provided several tips for customers “thinking of investing in bitcoin or other cryptocurrencies” on how to spot scams involving cryptocurrencies. “If you ignore the above advice, you could lose all of your money,” the bank cautioned. Natwest’s Advice on How to Spot Crypto Scams National Westminster Bank (Natwest), a major retail and commercial bank in the U.K., has launched an urgent cryptocurrency scam alert on its....
What are the most common NFT scams and how can you avoid them? Are the non-fungible tokens still worth the shot? Are NFTs worth it?NFTs are suitable as an investment. If you count your steps and take your safety measures, it’s a whole new world to explore. We’re in the middle of the roller coaster called NFTs but for a lot of people, there’s still a discussion about NFT investments vs. NFT scams. With a total market value of $40 billion, there’s no need to explain the success of the nonfungible tokens. Many will tell you NFTs are nothing more than overpriced PNG files that are a complete....
Cointelegraph shares six tips on how to safely invest in Defi projects in our latest in-depth video. In our latest in-depth video, Cointelegraph shares six key tips on how to increase your safety when investing in DeFi by identifying rug pulls — One of the most widespread types of crypto scams. Booming growth coupled with a lack of oversight by traditional authorities has attracted an influx of fraudsters to the DeFi ecosystem. According to a recent report by Ciphertrace, while overall fraudulent activity in crypto is decreasing, rug pull scams in DeFi have been on the rise in 2021.In the....
Since bitcoin’s inception in 2009, it has grown exponentially making it a widely popular digital currency that is used around the world. Unfortunately, it is due to the popularity of bitcoin and its market cap growth rate that scammers are realizing the monetary benefits they could get from it. According to Bitstamp, the first fully licensed bitcoin exchange, the bitcoin to USD market cap is more than $11.3 billion, with the cost of one bitcoin around the $708 mark, at the time of publishing. It goes without saying that the bitcoin space and its worth has attracted online scammers who want....
The Department of the Interior of Uruguay is taking steps to warn users about the danger they face when investing in certain crypto projects that could be scams. The campaign is called “Fake Coins: Cryptocurrency Scams” and seeks to educate the population about the most common kinds of crypto scams.
Uruguay Educates on Crypto-Related Scams
More and more government bodies are becoming aware of how some parties are using crypto to execute different kinds of scams, and also more of these institutions are working to educate citizens on this fact. The Ministry of the....