🚨 UPDATE ALERT EVERYONE in CRYPTOCURRENCY 🚨

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The cryptocurrency world has, unfortunately, been plagued by scams, with fraudsters constantly devising new tactics to exploit unsuspecting investors. Here’s a look at some of the most notorious scams you need to be aware of:

1. FTX: This major exchange collapsed in November 2022 after mishandling billions in customer funds. The founder, Sam Bankman-Fried, was sentenced to 25 years for fraud.

2. Luna and TerraUSD: A catastrophic $60 billion loss in May 2022 led to the arrest of founder Do Kwon in March 2023.

3. QuadrigaCX: The mysterious death of founder Gerald Cotten in 2018 left $215 million inaccessible, later revealed to be part of a Ponzi scheme.

4. Africrypt: In 2021, investors were scammed out of 70,000 BTC, with founders Ameer and Raees Cajee now under investigation for money laundering.

5. SafeMoon: Executives were accused of siphoning off over $200 million in 2021, leading to fraud charges by the SEC.

6. Pro-deum: This project vanished in 2018, taking all investor funds with it in a classic exit scam.

7. Pincoin and iFan: Modern Tech’s ICOs raised $660 million in 2018 through a Ponzi scheme before the team disappeared.

8. Celsius Network: Paused withdrawals in 2022 and filed for bankruptcy, owing $4.7 billion, now attempting to return assets to customers.

9. Centra Tech: Raised $25 million in 2017 with fraudulent claims, resulting in prison sentences for the founders.

10. Mining Max: Defrauded 18,000 investors of $250 million in 2017, with only a small portion actually spent on mining.

To protect yourself from these schemes, always conduct thorough research, verify the credentials of project teams, be skeptical of unrealistic promises, diversify your investments, and never store all your funds in one place.

Stay vigilant and invest wisely to reduce the risk of falling victim to scams in the volatile crypto market.

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