5 Of The Biggest Crypto Blowups, Frauds And Rug Pulls
Cryptocurrency has long been associated with frauds and outright scams, dating back to at least the massive loss of Bitcoin from the Mt. Gox crypto exchange in 2014. In many ways, crypto is an ideal vehicle to commit fraud because of its broad adoption by criminals, the anonymity of transactions and a gullible public that views cryptocurrencies as lottery tickets to riches.
While cryptocurrency really hit the mainstream with the run-up in Bitcoin in 2017, it’s exploded in popularity since 2020, when the Federal Reserve dropped interest rates to zero, encouraging a flight to risky assets. Even U.S. President Donald Trump now has a cryptocurrency ($TRUMP) and First Lady Melania Trump has her coin, too…
