“We’re all going to be rich, you roll 1 and it becomes 100 and even We’re going to the moon.” Speeches like this are very common in the crypto asset market and are actually just as dangerous. You may have found a crypto with a lot of rising potential through social media, from an acquaintance or through your own research. Agree What if it doesn’t go up, what if it’s a scam?

To this one pulling carpet or rug pulling scam It has been said. Another name is exit scam Good exit scamis. Times when this type of fraud is most common These are bull periods.

Carpet pulling scams; The developers, team or managers behind a crypto asset that is promising or could suddenly be very successful All investors take their money and run. If the situation is like this, the investors of the project will of course spend all their money. He suddenly loses it.

Here’s everything you need to know about carpet pulling scams:

First, rug pull scams are common in the crypto world. Tokens from such projects are usually in decentralized exchanges they are traded. They appear suddenly and are even called the Bitcoin or Ethereum of the future.

Team and founders is anonymousthey have no locked tokens, they promise very high returns or the price drops in a short time. ‘He’s going to the moon’ It is claimed. If a crypto asset project you are considering investing in shows such red flags, you should do more research and perhaps not invest or scale back your investment.

A CertiK investigation focused on 40 carpet scams between 2020 and 2023. Scammers in total for $12 million He discovered that he had stolen as much money.

This investigation also showed that there were 40 fraudsters On the 25th, the project team escaped.found that one of the project developers had defrauded the investors in four of them, that the project founder was responsible for six of them, and that the remaining five projects were rejected for other unclassifiable reasons.

Furthermore, the average number of carpet scams is the same 93 days They noted that the project was continuing and then the plug was pulled.

The 5 Biggest Scams in the History of the Crypto Asset Market:

In fact, Turkish crypto asset investors are used to back-pull fraud due to the Thodex scandal, but we will talk about this in a moment. The biggest carpet pulling scam everLet’s find out who the founders are, how much they stole, and whether the people behind this fraud have been arrested.

The biggest carpet pulling scam in the world is OneCoin.

• Who is the founder: Ruja Ignatova
• How much was stolen: $4 billion
• Has he been arrested: No

Thodex, which we are all familiar with, was actually a carpet scam.

• Who is the founder: Faruk Fatih Özer
• How much was stolen: $2 billion
• Was he arrested: Yes

AnubisDAO fraudsters made off with investors’ money less than 24 hours later.

• Who is the founder: Unknown
• How much was stolen: $60 million worth of Ethereum
• Has he been arrested: No

SquidGame Token, inspired by the popular Netflix series, deeply upset its investors.

• Who is the founder: Unknown
• How much was stolen: $3 million
• Has he been arrested: No

When all of the project’s Mutant Ape Planet NFTs were sold, the founder attempted to escape by pulling carpets.

• Who is the founder: Aurelien Michel
• How much was stolen: $2.9 million
• Was he arrested: Yes

Can we understand that a crypto asset project will not gain traction?

When you look at examples of back-pulling fraud from a distance, it seems like everyone who invested in the project suddenly lost their money will be rich You will notice that they are introduced as follows. The first indicator that a crypto asset project will not yield success is the identity of the founders and developers behind the project. public is that it is.

For example, if you look at the top 10 crypto assets by market cap, their founders and developers are obvious Well-known decentralized systems such as Bitcoin are creatures.

Tokens from now on What percentage of the project team? It is necessary to ensure that it is held by. of the project institutional investors if they have WHO It is also important to look at it.

Finally a project to the road map Having it is also a plus. Apart from this, it is an advantage that it is listed on the major crypto asset exchanges, the investment community is large and the project is completely decentralized.

After looking at examples and characteristics of rug-pull scams, we now look for crypto asset projects that raise similar warning signs. You can detect it much better.

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