Bitcoin and the broader cryptocurrency space are known for their wild volatility and unregulated nature , which creates the perfect storm for scams and pump-and-dump schemes . Despite all the promises of wealth, many individuals are being taken advantage of — losing life savings to schemes that are anything but legitimate. Crypto Scams: The Big Lie Behind the "Golden Opportunity" Bitcoin is often marketed as an easy way to get rich . People are told they can make quick money by buying into the cryptocurrency market, and many of them believe the hype, not realizing the number of scams lurking behind the digital curtains. 1. Fake ICOs (Initial Coin Offerings) An ICO is a fundraising mechanism where new cryptocurrencies offer their tokens in exchange for capital. The idea sounds pretty legit on paper — but some ICOs are designed to take your money and run . A few weeks after launch, the company disappears, leaving investors with worthless tokens. Example: One of...
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