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...
As of now, there's no real concrete ruling that GameStop is a classic case of a pump and dump scam. With GameStop, many retail investors, especially those tuned into the WallStreetBets subreddit, say they bought up the company's stock because they wanted to squeeze hedge funds tha...
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...
While airdrops can be exciting, they’re not without their downsides. There are several risks and challenges that both users and projects face. Security risks One of the biggest risks with airdrops issecurity.Scammersoften create fake airdrops to steal users’ funds, private keys, or persona...
Perhaps the most common scam is the rug pull. Scammers create a crypto token, promote it heavily on social media, and wait for people to trade for it. Once it has increased in value, they sell all their own tokens, causing the price to plummet. ...
A crypto or NFT airdrop is one way to get your hands on free tokens, but how exactly does it work?
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...
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.
Readers should be particularly cautious when dealing with specific investment recommendations. After all, an unscrupulous publisher could take advantage of their readers, such as making insincere recommendations as part of a pump and dump scam.