2. Rug pull scams involve deceitful tactics where scammers artificially inflate the value of a new project, non-fungible token (NFT), or coin to attract investments. Once they've amassed funds, the scammers vanish, leaving investors with worthless assets. These schemes often employ coding that inhibits investors from selling their holdings, trapping them with valueless investments. A notorious example is the Squid coin scam, inspired by the popular Netflix series Squid Game. In this scam, investors were enticed to purchase tokens for online gaming with promises of substantial returns. However, trading abruptly ceased, leaving investors unable to offload their tokens as their value plummeted to zero. The perpetrators absconded with approximately $3 million in ill-gotten gains. Rug pull scams extend beyond cryptocurrencies to encompass NFTs, unique digital assets vulnerable to similar exploitation.#bitcoin #BTC #Memecoins #BullorBear #bitcoinhalving