Credit: Trading Height
Follow him and me for more info
TOP 11 BIGGEST CRYPTO SCAM
The crypto world continues to see scammers finding new ways to deceive investors. Here are 11 of the biggest scams to keep you alert and aware 👇
1️⃣ FTX
- Collapsed in November 2022 after misuse of billions in customer funds.
- Founder Sam Bankman-Fried sentenced to 25 years for fraud.
2️⃣ Luna and TerraUSD
- In May 2022, Luna and UST's collapse caused a $60B loss.
- Founder Do Kwon arrested in March 2023.
3️⃣ QuadrigaCX
- Founder Gerald Cotten's death in 2018 left $215M inaccessible.
- Investigations revealed it was a Ponzi scheme.
4️⃣ Africrypt
- In 2021, founders Ameer and Raees Cajee scammed investors out of 70,000 BTC.
- Investigated for money laundering in Switzerland.
5️⃣ SafeMoon
- In 2021, execs withdrew over $200M for personal use.
- SEC charged them with fraud.
6️⃣ Pro-deum
- In 2018, the project vanished, marking it as an exit scam.
- Investors lost all funds.
7️⃣ Pincoin and iFan
- In 2018, Modern Tech's ICOs raised $660M in a Ponzi scheme.
- The team vanished after collecting the funds.
8️⃣ Celsius Network
- In 2022, paused withdrawals and filed for bankruptcy, owing $4.7B.
- Plans to return assets to customers.
9️⃣ Centra Tech
- In 2017, raised $25M with fraudulent promises.
- Founders received prison sentences.
🔟 Mining Max
- In 2017, defrauded investors of $250M.
- Only $70M spent on mining, affecting 18,000 investors.
1️⃣1️⃣ OneCoin
- In 2016, OneCoin was revealed as a Ponzi scheme, defrauding investors of $4B.
- Founder Ruja Ignatova, the "Cryptoqueen," disappeared and remains at large.
To avoid scams:
- Research thoroughly
- Verify team credentials
- Avoid unrealistic promises
- Diversify investments
- Never store all funds in one placeStay cautious and invest wisely! 🔒
