Basic Crypto

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The Scummy Scams

This is a major topic that comes up very frequently in the crypto world. It is a serious topic that has affected thousands of people. A common phrase you will hear a lot is "If it sounds too good to be true, then it is." You will not make millions of dollars in a week on a $100 investment. If you are unsure ask for help. Crypto has a bad reputation in mainstream media, but the truth is, most groups in crypto despise scammers as much as anyone. Remember, there is NO REASON anyone will need your keys in your wallet. You never need to re-sync your wallet, and if an attractive female says she has the ins for the next token to the moon and that if you send her a few tokens, she can invest them for you, tell him no. Crypto is a wonderful world that should be explored with caution.

Dusting

This type of scam is very unique. This is where someone will send small amounts of tokens to random addresses in hopes of uncovering their identity. 

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Honey Pot

Honey pot scams play on people's greed.

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Rug Pull

A rug pull is one of the more common scams you can encounter. This one is also very similar to an exit scam.

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Pump and Dump

Artificially inflate a token price to promote FOMO in their victims.

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Exit Scam

A scam that makes promises to investors and takes the money and runs. 

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Sandwich Attack

Sophisticated attack on slower blockchains that targets large transactions.

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