Meta Description: From rug pulls to fake airdrops to influencer pumps — crypto has become the playground of scammers. Here’s why the web3 revolution also birthed a fraud industry.
📌 At a Glance:
Crypto promised us:
- Financial freedom
- Decentralized money
- Borderless innovation
What we got:
- NFT rug pulls
- Telegram pump groups
- Exchange hacks
- Influencers selling“Shitcoin of the Month”
Crypto didn’t remove middlemen.It just creatednewer, more dangerous oneswith Twitter handles like @CryptoGuru420.
🎯 1. No Regulation = Infinite Scam Potential
Traditional finance may be boring, but it’sheavily policed.
- SEBI audits brokers
- RBI controls banks
- NSE won’t let you list “YOLO Token”
But crypto? You can:
- Launch a coin in 10 minutes
- Fake a whitepaper with ChatGPT
- Hire influencers to shill
- And disappear with $2 million overnight
It’s
not a loophole.It’s afraud factory with better UI.
🧠 2. Retail Greed + Tech Illiteracy = Rugpull Buffet
| What Retail Thinks | What’s Actually Happening |
|---|---|
| “10x returns in 2 months!” | Exit liquidity for whales |
| “It’s early, like Bitcoin in 2011” | It’s doomed, like Bitconnect in 2017 |
| “The founder is doxxed” | And so was Ketan Parekh |
| “This coin is backed by AI + DeFi + Web3” | Buzzword salad with no utility |
Crypto exploitshuman greedwrapped intechno gibberish.
🪤 3. The Most Popular Crypto Scams (2021–2025 Edition)
| Scam Type | Description |
|---|---|
| 🧻 Rug Pulls | Project raises millions → founders vanish |
| 🧢 Pump & Dump | Influencers shill low-cap coins → dump on followers |
| 🔒 Exchange Exit | Centralized exchange “gets hacked” → founders missing |
| 🎁 Fake Airdrops | “Connect wallet to claim free tokens” → goodbye funds |
| 📉 DAO Rug | “Community governance” → whales override, empty treasury |
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