Hey guys, here’s today’s entry. 09.12.24 i hope you all like it!!

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Have I ever been scammed?

Yes, I’ve been scammed a couple of times in the crypto industry. Back in 2017, I was really into mining and trading crypto. I would rent cloud mining services and even had a couple of miners of my own. Anyway, let’s get down to it.

What is a rug pull, you ask?

Have you ever seen an ad or post that says, "We can 10× your investments"? Well, you sign up, give them your money, and at first, everything seems great. Your money is growing, and you can even make withdrawals. But then, all of a sudden, one day—or even later that same day—the site shuts down. Yep, that’s a rug pull. They keep it going until they've collected enough or start to worry, and then they just vanish. This has happened to me twice.

A pump and dump

Have you ever seen a new crypto doing super well, getting lots of news and hype? Well, this could all be a ruse created by the makers to inflate the value quickly. They hold onto their assets, and when the price is high enough, they sell huge amounts. Since they’re the creators, they have the ability to mint coins for themselves to sell, which destroys the coin's value. This has happened to me once.

In conclusion

just like any currency, there will always be people trying to steal it. They’ll make fake sites, send convincing emails, and create fake posts. Always take your time, ask questions, and be cautious to stay safe.

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