Coin Scams Targeting 'Coins Going Live Soon'; Group Sentenced for 'Criminal Organization, Fraud'

IconCryptoNewsTerminal Staff30 Jul, 2024

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Coin Scams Targeting 'Coins Going Live Soon'; Group Sentenced for 'Criminal Organization, Fraud'

From CNBC: A group of people were sentenced to real prison terms for engaging in a cryptocurrency fraud scheme. The group was found guilty of operating a "criminal organization" and committing fraud. The group targeted investors who were interested in "coins going live soon". The group would create fake websites and social media accounts to promote these coins. They would then sell the coins to investors at inflated prices. Once the coins went live, they would often crash in value, leaving investors with significant losses. This is just one example of the many scams that are targeting cryptocurrency investors. It is important to be aware of these scams and to take steps to protect yourself. Here are a few tips: Only invest in coins that you understand and that you believe in. Do your research before investing in any coin. Be wary of any coin that is being promoted heavily on social media or other online platforms. Never invest more money than you can afford to lose.

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