Your first form of scam The victims are always driven by greed; it's only greed that pushes people to fall victim to a money-doubling scheme; they want to make more out of things, which is exactly what the scammers need in order to get their target.

Let me elaborate more on the ICO scam part. These days, that type of scam is almost a thing of the past because I barely see projects running ICOs. Back then, what most of them usually do is propose promising projects that have no physical foundation, attract investors through those promises, and through paid advertisers, investors give them their money.

Most of them actually launch those coins, but launching those coins is actually not the problem; the major problem is usually whether those coins or tokens will be listed on any exchange. Even if they are listed, will they be worth what you invested inside? etc. Many people have fallen victim to such scams because we really can't tell which of those coins are scams, and most of those scammers are very good at what they do. Now what they do is the IEO, which is the initial exchange offering. You will be allowed to buy their coins or tokens from an exchange that they will promise to list at a particular price that will be tempting to you, which will make victims buy these coins because they believe the coins will be listed. But any of the projects that happen to be scams will still list those tokens on those exchanges, add a little money that they have gained from the IEO, pump the market a little, and then pull the rug, leaving all the investors with worthless coins or tokens.