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Business, Spoken
Crypto FOMO Is Back. So Are the Scams
Apr 16, 2024
The podcast delves into the resurgence of Crypto FOMO, leading to a surge in scams offering false promises of wealth. Ryan shares his personal experience falling for a meme token scam, shedding light on the deceptive practices used by scammers in the cryptocurrency market. The discussion emphasizes the importance of investor caution and the necessity for regulations to combat evolving scams.
08:30
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Quick takeaways
- Scammers exploit Crypto FOMO with fake tokens, leaving investors broke.
- Investors drawn to meme coins for quick wealth face risks of falling victim to scams.
Deep dives
Crypto Scams in the Rise
With the resurgence of Crypto FOMO, scammers are taking advantage by flooding the market with fake tokens promising great riches, leaving investors penniless. The market for meme coins, driven by the desire for quick wealth, has created opportunities for scam artists who lure investors with promises of early access and discounts. The number of meme token presales has surged, with Blockade identifying a third of them as scams
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode