Crypto scams refer to fraudulent schemes that exploit the growing popularity and complexity of cryptocurrencies to deceive individuals or investors. These scams typically involve misleading practices designed to gain access to victims’ funds or personal information. Common types of crypto scams include Ponzi schemes, where returns are paid to earlier investors using the capital from newer ones; phishing attacks, which trick individuals into providing sensitive information through fake websites or emails; and fraudulent initial coin offerings (ICOs), where scammers sell a non-existent cryptocurrency project. Other tactics include pump-and-dump schemes, where the price of a cryptocurrency is artificially inflated to sell at a profit, and impersonation scams, where scammers pose as reputable figures in the crypto space, promoting false investment opportunities. The lack of regulation in the cryptocurrency market and the anonymity it provides make it particularly susceptible to scams, leading to significant financial losses for victims.
Atari, a legendary name in gaming history, recently took a firm stance against a new cryptocurrency dubbed "RealPongCoin" or "$PONG." On January 23, the company issued a press release clarifying…