Crypto Scams, Rug Pulls, and Ponzi Schemes – What Can Web3 Learn?

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What Are the Most Common Crypto Scams?

Rug pulls are the best‑known crypto scams. A team launches a shiny new token or NFT, hypes it on Twitter and Telegram, and attracts lots of buyers. Once enough money is locked in, the developers drain the cash and vanish. Investors are left with worthless tokens.

Ponzi schemes are another classic form of crypto scam. They promise high, “guaranteed” returns — maybe 10 percent a week. Early investors do get paid, but only with money from new investors. When fresh cash stops coming in, the whole pyramid collapses.

Fake crypto projects also fit the crypto scam label. They copy real‑looking websites and whitepapers, hire anonymous teams, and use FOMO (fear of missing out) marketing. There is no real product behind the scenes — only a plan to disappear once the founders cash out.

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