Crypto Scam Overview - Crypto scams spike during bull runs, blending old tricks with new tech like wallet drainers and AI deep fakes [1] - A single click can wipe out crypto users, highlighting the need for caution [2] Common Crypto Scams - **Copycat Tokens:** Scammers create fake tokens with the same name/ticker as legit projects, exploiting FOMO and potentially leading to address poisoning [4][6][7] - **Wallet Drainers:** Malicious code that takes control of wallets, often through connecting to sites/apps and signing prompts [13][14] - **Shills and Rug Pulls:** Paid promotions or celebrity endorsements funneling volume into tiny pools for insiders to offload tokens, resulting in hard or slow rugs [19][20] - **Unknown Tokens:** Mystery drops engineered to make users swap, send, or follow links, leading to wallet draining [24] - **Social Engineering:** Scammers use human interaction and manipulation to push users towards transfers or logins, often supercharged by AI [29][30] Prevention Measures - Use official sources (project's X account, website) to copy contract addresses and confirm across multiple platforms [9] - Respect warnings from DEXs like Uniswap and take time for sanity checks using charting sites [10][11] - Use a burner wallet for mints, new DApps, and airdrop claims, and revoke approvals using tools like RevokeCash [18][19] - Treat glowing write-ups and viral threads with cynicism, checking for disclosures and doing due diligence on tokenomics [21][23] - Ignore unknown tokens in your wallet and adjust token visibility settings [27] - Don't reply to cold outreach and be cautious with live streams promising unrealistic returns [32]

Legal & Security - A criminal involved in the Balloonsville rug pull on Solana has been sentenced after nearly 35 years [1] - The MagicEden team has brought the Balloonsville Rugger to justice [1] - The UK's ERSOU Cyber Crime Unit is thanked for their efforts in bringing the criminal to justice [1] Incident Details - The individual is described as the "Ted Bundy of Solana rugs" [1]

JUST IN: Logan Paul blames partners for 'CryptoZoo' rug pull in lawsuit alleging it was a scam, Bloomberg reports. https://t.co/RrFlEVAYpT ...