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How to Spot a Scam in Cripto world!
The internet, especially as we transition into the web3 era, sometimes feels like the wild west - there are so many bad actors out there, committing flagrant acts of fraud and taking advantage of ordinary people who are looking for ways to better their family’s lives. In the crypto world we’ve seen lots of high profile scams, such as Bitconnect (check out the excellent Crypto Crooks podcast for the inside story on that soap opera), or more recently we’ve seen the collapses of Terra/Luna, Celsius & FTX. Beyond those big ones that grab the headlines, though, there are so, so many rug pulls and other types of scams that go unreported and largely under the radar. So, it’s super important to do thorough research before investing in any project, especially in an industry as nascent as the web3 space. Let’s take a look at some of the biggest red flags to watch out for, so you can spot a scam long before you fall victim to it: 5 Signs It Might Be a Scam! 1. It seems too good to be tru...
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