Quote from: DeathAngel on September 11, 2022, 07:15:18 PM

Quote from: Belinda1732 on September 10, 2022, 04:36:13 PM

Rug pull scams "pumping up" a new project, nonfungible token (NFT) or coin to get funding. After the scammers get the money, they disappear with it. The coding for these investments prevents people from selling the bitcoin after purchase, so investors are left with a valueless investment.

It’s been happening for years. This is why you need to do extensive research before you FOMO into random alts. To be honest, it’s better to just stick with bitcoin or mainstream alts. Lots of the lesser known coins are a minefield of scams.

It's not new to us anymore, it's been around for years and we can't stop these scams. We should keep away from it by limiting investment in new projects, such as those that promise interest rates of hundreds or thousands of percent, this is the best way to deal with it. In a world where people aren't so greedy, and are only interested in coins like bitcoin and ethereum, or bnb, scams such as these wouldn't be as rampant as they are now.