Crypto-related looting on the rise, experts sound the alarm

Nowadays, the number of cases of people being scammed in the name of cryptocurrency is increasing so rapidly that experts have started issuing regular warnings. The method is very well thought out, first friendship is made on social media, trust is won, then a wonderful investment scheme is mentioned and when the person invests money, all the money is cleared through a fake app or website.

The most common fraud in the crypto market is through Meme Coins and fake projects. First, there is a lot of publicity on social media, dreams of getting rich quickly are shown, people get greedy and invest money and when enough money is accumulated, the scheme makers disappear, this is called Rug Pull.

Experts say that the biggest problem with crypto is that it is a decentralized system, meaning no bank or government monitors it, so once the money is gone, it is almost impossible to get it back.

Experts advise that you do thorough research before making any online investment, stay away from unknown platforms, and do not blindly trust anyone who promises huge profits because nothing comes for free in the real world.