đđ„ Attention crypto enthusiasts! Did you know that you could turn $1,000 into $1 million with a strategic launch of $POPCAT⊠or lose it all if it goes south? Every day, more than $100,000 disappears because of rug pulls! đ±
Memecoins dominate the crypto market, but be careful, scams are everywhere. Find out how to avoid these pitfalls with this guide on the 10 types of rug pulls and their tips for avoiding them. đ§”đ
1/âź Back the Base
đ· The most common, where you are promised mountains and wonders but where everything falls through. Always check who sets the market price, as they are often the ones pulling the rug out.
2/âź Token Rug
đ· Even with liquidity locked in, rug pulls can still occur. Don't just rely on the apparent security of the pool.
3/âź Slow Rug
đ· Cautious scammers launch a discounted token, build up the hype, and slowly siphon off funds.
4/âź Liars Rug
đ· Developers claim to have been hacked to justify losing funds while continuing to siphon money.
5/âź Pump Rug
đ· They create artificial demand by directing the crowd to a DEX, increasing the value of the token before selling their reserves.
6/âź Algorithmic Rug
đ· Tokens are launched under a name similar to a popular token to mislead investors.
7/âź Rug Sandwich
đ· A trader with too high a slippage may be overtaken and see the token sold at a higher price.
8/âź Vapour Rug
đ· Developers seduce with an attractive whitepaper, but remember that a promise of 1,000x is not always realistic.
9/âź Sam Rug
đ· Sam Bankman-Fried demonstrated that a large company could also achieve a monumental $10 billion rug pull.
10/âź Precautions to Take
Check contracts on rugchecks
Do in-depth research on the project, its social networks, contracts and portfolios
Beware of $10 trillion fairy tales
Correctly adjust the slippage
Don't let yourself be influenced by units
Only invest what you are willing to lose
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