🛑 ALARMING NEWS ALERT ⛔
The crypto world is full of scams. Here's a rundown of the biggest ones you should know about:
1. FTX: Collapsed in November 2022, losing billions. Founder Sam Bankman-Fried got 25 years for fraud.
2. Luna and TerraUSD: Lost $60 billion in May 2022. Founder Do Kwon was arrested in March 2023.
3. QuadrigaCX: Founder Gerald Cotten's death in 2018 left $215 million inaccessible, revealed as a Ponzi scheme.
4. Africrypt: Defrauded investors of 70,000 BTC in 2021. Founders Ameer and Raees Cajee are under investigation.
5. SafeMoon: Executives withdrew $200 million for personal use in 2021, facing SEC fraud charges.
6. Proodeum: Disappeared in 2018, leaving investors with nothing.
7. Pincoin and iFan: Raised $660 million in 2018 via a Ponzi scheme, with the team vanishing afterward.
8. Celsius Network: Paused withdrawals in 2022, filed for bankruptcy, owing $4.7 billion.
9. Centra Tech: Raised $25 million in 2017 with false promises. Founders were imprisoned.
10. Mining Max: Defrauded investors of $250 million in 2017, impacting 18,000 people.
Protect Yourself:
- Research thoroughly
- Verify team credentials
- Be wary of offers that seem too good to be true
- Diversify your investments
- Don't store all funds in one place
Stay vigilant and invest wisely!
