This is one of the most common type of scam in the cryptocurrency market and those who understand this will never fall for this kind of scam. Most time even those that had been in the market for so long can still far for this kind of scam. This is why we need to make sure that we do some good background check of the project we want to invest in become we decide to put our money in it.

Cryptocurrency is very vast and scammers now look for new methods to steal people's funds until they look for another better method to do this. There are other types of scam too but this one is still going on in the crypto market where scammers create a coin, market it and when they find out that people are investing in it, they take away the liquidity and everything will crash to zero making investors to lost there funds.