đ¨ Major Cryptocurrency Scam Alert đ¨
The world of crypto holds great rewards, but it's also full of risks, with scams lurking around every corner. Fraudsters are always inventing new ways to steal from investors. Here are some of the most notorious scams in crypto history:
FTX: Collapsed in November 2022 after mismanaging billions in customer funds. Founder Sam Bankman-Fried is now serving a 25-year sentence for fraud.
Luna & TerraUSD: Lost $60 billion in May 2022, with founder Do Kwon arrested in March 2023.
QuadrigaCX: Following the mysterious death of its founder, Gerald Cotten, in 2018, $215 million vanished, revealed later as part of a Ponzi scheme.
Africrypt: In 2021, 70,000 BTC were stolen, and the founders are now under investigation for money laundering.
Other notorious scams include SafeMoon, Proodeum, Pincoin, and the downfall of Celsius Network, which filed for bankruptcy in 2022, owing $4.7 billion.
đ Stay safe by doing your research, verifying teams, and staying cautious. If it sounds too good to be true, it probably is. Stay alert, and donât fall for the tricks!
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