In this video, we discuss what is Rug pull scam in Cryptocurrency and how scammers pull it off.
What is a Rug Pull Scam?
A rug pull scam is a kind of malicious endeavor where project developers pull out of the project suddenly and take the investors’ money with them once the value of the coin soars, leaving the investors with losses worth millions of dollars.
What are the different types of rug pull scams?
– Liquidity Scam
– Selling off the Shares
What are the ways to spot a Rug pull scam?
– Background Checks
– Too much promotion.
– Promising high returns.
– Value of coin soaring within hours
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