Pump-and-dump scams often involve claims of insider knowledge about a company. Remember, trading on inside information is illegal. If someone is freely sharing such information online, it’s likely false. Pressure to act quickly Scammers often create a sense of urgency, claiming you need to bu...
The most popular cryptocurrency is Bitcoin, and it’s a fungible token. When something is fungible, it can be exchanged for something similar or equal to it in value. 1 BTC is equivalent to every other Bitcoin. But 1 NFT isn’t equal to every other NFT - different NFTs have different v...
Thepump and dump or rug pull schemeis another scam that racks up millions of dollars every year. The fraudster creates a buzz around something worthless and persuades people to invest in it. As the price pumps up, the fraudster dumps their stock at its peak, leaving investors in their wa...
What is a non-fungible token (NFT)? A non-fungible token (NFT) is a unique cryptographic asset used to create and authenticate ownership of digital assets. NFTs are used with cartoons, music, film and video clips, JPEGs, postcards, sports trading cards, and virtual real estate and pets....
Each year, as the festive season arrives, we must also keep an eye out for potential scammers trying to ruin the fun. This is because scammers become more active during the holidays, targeting us while we have our guard down.
Low liquidity levels also provide opportunities for some traders to manipulate stock prices. Thepump and dumpscheme is a popular trading scam to lure investors into buying a stock. Large amounts of a penny stock are purchased followed by a period when the stock is hyped up or pumped up. ...
Is Pi Coin a Scam? Pi Coin has generated a lot of skepticism due to its unconventional approach, multiple mainnet delays, and the fact that the cryptocurrency is not yet tradable on major exchanges. Vietnam’s Department of Cybersecurity and High-Tech Crime Prevention has previously launched an...
and then pulling the plug. You may have heard of a rug pull scam before, as they're pretty commonplace in the traditional finance world, too. But the lack of regulation surrounding cryptocurrency makes rug pull scams even easier to pull off, which is why they're now worryingly numerous in...
Scam networksStealing isn’t the only way cybercriminals can wipe out your investment. There are also "pump-and-dump" scams (aka rug pulls) to be aware of on the blockchain. This is where malicious individuals or firms, known as bad actors, create and hype up fake tokens to attract or...
phishing website in order to claim their airdrop. Often, theweb3address will prompt a user to connect their wallet using common and popular wallet services such as MetaMask, Trust Wallet, or Oasis. After a user connects their wallet by providing their secret phrase or keys, the scam is ...