Unfortunately the Cryptosphere is still full of scammers and fraudsters as it simply has been to easy for them until today. Basically no one has been really watching them before the big price rally at the end of last year. It´s pretty different these days though as the Officials are starting to clean up the space.
Almost daily one can read about government regulations, crackdowns on scams and new warnings being published from different organizations. Just now the CFTC published a warning about pump & dump schemes, asking everyone to report the people behind those obvious scams:
(Source - cftc.gov)
The statement from the CFTC basically says it all and will probably lead to a sudden death of many pump and dump groups. Fortunately as they are all just massive scams, which only make the ones wealthy who run them.
That being said, please listen to the officials this time:
Customers Can Protect Themselves
Customers can best protect themselves by purchasing only alternative virtual currencies, digital coins, or tokens that have been thoroughly researched – to separate hype from facts. The bottom line: Customers should not purchase virtual currencies, digital coins, or tokens based on social media tips or sudden price spikes. For more virtual currency resources, visit the CFTC’s dedicated virtual currency web page, cftc.gov/bitcoin.
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