Avoiding Scams, Rug Pulls, and Market Manipulation: A Crypto Trader’s Survival Guide
Why Crypto Attracts Scammers Like Honey Attracts Bears
Before we dive into specific schemes, let’s talk about why crypto has become such a fertile ground for fraudsters.
The answer is beautifully simple and terrifyingly effective: anonymity.
In traditional finance, every account is tied to a real identity, a social security number, and an address. Try to pull a fast one and regulators can track you down faster than you can say “Securities and Exchange Commission.”
But in crypto? Wallet addresses are just random strings of characters. No personal data required. No identity verification. No paper trail leading back to your front door.
Just a few months ago we saw a pump-and-dump scheme unfold in real-time with the whole LIBRA…
