Crypto Rug Pulls Are on the Rise in 2022

Hackers made off with $14 billion in cryptocurrency so far in 2022, according to a recent report from Chainalysis.

The rising scamming revenue largely came from rug pulls. These types of scams have become incredibly popular in crypto, especially in NFT projects.

This type of scam often occurs when a developer attracts investors to a new cryptocurrency project, which is then abandoned, leaving the investor with a worthless digital asset.

FULL VIDEO TRANSCRIPT BELOW:

Any time you have a decentralized asset class, you know with no acting government body, there’s always going to be potential theft and scams.


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