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Smdeth
@smdeth
🧵Thread: The Dark Side of Crypto Scams Crypto’s promise of wealth attracts dreamers, but also scammers. From influencers to founders, here’s how scams unfold across the ecosystem, with a spotlight on pumpdotfun meme coins. Buckle up.
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Smdeth pfp
Smdeth
@smdeth
1/ Influencers & KOLs: The Hype Machines Influencers and Key Opinion Leaders (KOLs) are often the first hook. Paid shills with massive followings pump tokens on X, Telegram, or TikTok, promising 100x gains. They rarely disclose their bags or paid promos. Many flaunt luxury lifestyles to sell the dream. Some vanish after the token dumps, leaving retail investors rekt. Watch for vague “this isn’t financial advice” disclaimers while they hype sketchy projects.
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Smdeth pfp
Smdeth
@smdeth
2/ VCs: The Puppet Masters Venture Capitalists aren’t always the good guys. Some fund dubious projects, knowing they’ll dump on retail. They secure early tokens at dirt-cheap prices, then exit during presales or IDOs. Their “backing” is used as a trust signal, but it’s often just a cash grab. Check tokenomics: if VCs hold huge allocations with short lockups, red flags.
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Smdeth pfp
Smdeth
@smdeth
3/ CEXes: The Enablers Centralized Exchanges (CEXes) like Binance or KuCoin can list shady tokens for hefty fees. Listing doesn’t mean vetting. Some CEXes prioritize profits over due diligence. Scammy projects gain credibility once listed, luring more victims. Insider trading by CEX staff has been alleged in some cases, front-running pumps or dumps.
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