Crypto Scam Overview  what is crypto scam long article Cryptocurrency scams are fraudulent activities that use cryptocurrencies as a means to defraud people. They take advantage of the lack of regulation in the cryptocurrency market and the trust people put in this new technology to steal their money. Some common types of cryptocurrency scams include: Ponzi Schemes: These scams promise high returns to investors and use the funds from new investors to pay returns to existing ones. They eventually collapse when there are not enough new investors to pay returns, leading to a loss of funds for most participants. Fake ICOs: Initial coin offerings (ICOs) are used by companies to raise funds for new projects. Scammers create fake ICOs and use them to collect funds from unsuspecting in
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