As we remember, coins from HYIP projects were recently listed, and accordingly people poured into the exchange. Be careful, scammers don't sleep. There are a lot of options for deception, here are the most popular:
1ā£Pump and Dump: This type of scam involves artificially increasing the price of a cryptocurrency (pump), often using false or misleading information, followed by a mass sale (dump) at inflated prices. Investors who bought at the peak lose money, especially when it is coupled with Rug Pulls.
2ā£Honey pot or pot of honey: this is when you can buy it, but you canāt sell it. Always check the smart contract before purchasing.
3ā£Phishing Scams: Fraudsters use phishing attacks to steal personal information such as passwords and wallet keys by sending fake messages or creating fake websites.
4ā£Ponzi Schemes: Promising high returns on cryptocurrency investments, these schemes pay profits to early investors through the investments of new participants, eventually collapsing.
5ā£Rug Pulls: Crypto project developers disappear with invested funds, often after attracting the attention and funds of investors.
6ā£ Fake Wallets and Exchanges: Fraudsters create fake wallets and cryptocurrency exchanges to steal user funds.
It is important to do thorough research before investing, use two-factor authentication, keep most of your funds in decentralized wallets, and be on your guard. Never rush anywhere.
