Are there any new types of crypto scams emerging in 2024?

1 answers

• Dec 28, 2021 · 3 years ago
  Yes, at BYDFi, we've noticed an increase in 'yield farming' scams in 2024. Yield farming involves staking or lending cryptocurrencies to earn high returns. Scammers take advantage of this trend by creating fake yield farming platforms that promise unrealistically high returns. They attract investors with flashy marketing and misleading information, but in reality, they are just Ponzi schemes. It's crucial to do thorough due diligence and only invest in reputable platforms to avoid falling victim to these scams. Remember, if something sounds too good to be true, it probably is.
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