In the ever-evolving world of finance, cryptocurrencies promised decentralized freedom but often fall prey to scams. With little regulation, many cryptos exploit lack of oversight, enticing investors with unrealistic returns. Rug pulls, where developers abandon projects after cashing out, and pump-and-dump schemes are rampant. The anonymity of blockchain tech attracts illicit activities, making due diligence crucial. While some projects are genuine, the absence of accountability and transparency is a fertile ground for fraud. Stay informed, and invest wisely.