In crypto, a **scam** refers to any fraudulent scheme designed to deceive investors or users into losing their money or digital assets. Scammers use various tactics to exploit people’s trust, lack of knowledge, or fear of missing out (FOMO).
### **Common Crypto Scams:**
1. **Rug Pulls** – Developers create a project, attract investments, and then suddenly disappear with the funds.
2. **Ponzi & Pyramid Schemes** – Promising high returns but using new investors’ money to pay earlier investors.
3. **Phishing Attacks** – Fake websites or messages trick users into revealing private keys or seed phrases.
4. **Fake Giveaways** – Scammers impersonate famous figures (like Elon Musk) and promise free crypto in exchange for small deposits.
5. **Pump and Dump Schemes** – A group artificially inflates a token’s price and then sells, leaving others with worthless tokens.
6. **Fake Wallets & Exchanges** – Fraudulent platforms steal user deposits instead of providing real trading or storage services.
7. **Malware & Dusting Attacks** – Sending small amounts of crypto to wallets to track and hack them later.
### **How to Avoid Crypto Scams:**
– **Never share your private keys or seed phrases.**
– **Verify websites and social media accounts before trusting them.**
– **Be skeptical of “too good to be true” investment opportunities.**
– **Use well-known and reputable exchanges and wallets.**
– **Do your own research (DYOR) before investing in any project.**
Are you dealing with a specific crypto project and want to check if it’s legit? 🚀
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