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A "rug pull" is a scam, similar to an exit scam or a pump and dump scheme, in which the developers of an NFT or other blockchain project hype the value of a project to pump up the price and then suddenly sell all their tokens to lock in massive profits or otherwise abandon the project while removing liquidity, permanently destroying the value ...
A pig butchering scam (in Chinese sha zhu pan [116] or shazhupan, [117] (Chinese: ĉçŞç), translated as killing pig game) [115] is a type of long-term scam, which usually but not always combines the various forms of romance scams and investment frauds, in which the victim is gradually lured into making increasing contributions, usually in ...
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NFT token sample. The impact of Non-Fungible Tokens (NFTs) on traditional businesses is quantifiable in several distinct operational, transactional, and economic variables within multiple industry sectors. NFTs, characterized by their indivisibility and uniqueness, are registered on a blockchain.
Save the Kids was a cryptocurrency token and pump and dump scheme launched in 2021, which was marketed as a charity token meant to give a percentage of the transaction fee to a Binance-operated charity.
“A lot of people talk about the utility of NFTs, but there hasn't been the rails for the infrastructure to be able to unlock that utility in the real world,” Alfonso Olvera, CEO of Tokenproof ...
Bored Ape Yacht Club (BAYC), often colloquially called Bored Apes or Bored Ape is a non-fungible token (NFT) collection built on the Ethereum blockchain with the ERC-721 standard. The collection features profile pictures of cartoon apes that are procedurally generated by an algorithm.
The largest scam occurred in April 2021, where the two founders of an African-based cryptocurrency exchange called Africrypt, Raees Cajee and Ameer Cajee, disappeared with $3.8 billion worth of bitcoin. [155] Additionally, Mirror Trading International disappeared with $170 million worth of cryptocurrency in January 2021. [155]