Ethereum chain scam and how to report scam. The vast majority of these scams happen on either the Ethereum Chain or the Binance Smart Chain. Because it’s very easy and relatively cheap for the scammers to launch these coins over and over again with different names and make lots of money."
Scams in the cryptocurrency world run rampant. Reported scams on tracking site with total more than 38,179 ETH (~$23 million) which have been taken from users. And this is only what we can trace!
- Fake MEW/MyCrypto sites: $7.57 million
- Fake ICOs: $4.5 million
- The word “give”: $1.48 million
- Punycode lookalike domains: $507,000
- Fake exchanges: $502,000
- The word “gift”: $459,000
- Elon Musk scams: $322.1 million