NFT and crypto scams: What is a rug pull?
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At best, most Americans are skeptical about cryptocurrency (Pew recently reported that 63% of Americans have little confidence in crypto’s reliability and safety). But that hasn’t stopped crypto from becoming a staple in the investing world, with the global market value of cryptocurrency leaping 36% in 2024. So, if you’re hoping to join the ranks of the 562 million people who are crypto owners worldwide, it helps to go into your investment with eyes wide open to scams and risks. And one of the biggest of all? Rug pulls.
Here, Spokeo digs into what rug pulls are, how they affect the sector at large, and what you can do to avoid falling victim to one.
