TOP 10 BIGGEST CRYPTO SCAMS IN HISTORY
đš The crypto world continues to see scammers finding new ways to deceive investors. Here are 10 of the biggest scams to keep you alert and aware đ
1ïžâŁ FTX
- Collapsed in November 2022 after misuse of billions in customer funds.
- Founder Sam Bankman-Fried sentenced to 25 years for fraud.
2ïžâŁ Luna and TerraUSD
- In May 2022, Luna and UST's collapse caused a $60B loss.
- Founder Do Kwon arrested in March 2023.
3ïžâŁ QuadrigaCX
- Founder Gerald Cotten's death in 2018 left $215M inaccessible.
- Investigations revealed it was a Ponzi scheme.
4ïžâŁ Africrypt
- In 2021, founders Ameer and Raees Cajee scammed investors out of 70,000 BTC.
- Investigated for money laundering in Switzerland.
5ïžâŁ SafeMoon
- In 2021, execs withdrew over $200M for personal use.
- SEC charged them with fraud.
6ïžâŁ Pro-deum
- In 2018, the project vanished, marking it as an exit scam.
- Investors lost all funds.
7ïžâŁ Pincoin and iFan
- In 2018, Modern Tech's ICOs raised $660M in a Ponzi scheme.
- The team vanished after collecting the funds.
8ïžâŁ Celsius Network
- In 2022, paused withdrawals and filed for bankruptcy, owing $4.7B.
- Plans to return assets to customers.
9ïžâŁ Centra Tech
- In 2017, raised $25M with fraudulent promises.
- Founders received prison sentences.
đ Mining Max
- In 2017, defrauded investors of $250M.
- Only $70M spent on mining, affecting 18,000 investors.
To avoid scams: research thoroughly, verify team credentials, avoid unrealistic promises, diversify investments, and never store all funds in one place. Stay cautious and invest wisely! đ
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