The fraud in the world of encryption has become common because Blockchain is gaining global adoption.
While there are many types of tricks that can include hunting (a fraud, where attackers deceive people to detect sensitive information or install harmful programs such as viruses, worms, etc.), Ponzi plans, and others, the famous type includes withdrawing the encryption rug.
In this article, we will discuss some of the largest coding carpet withdrawals, specifically the 5 largest encryption carpets in 2024, and listed some ways to stay safe from future fraud in the world of encryption.
What is the withdrawal of the encryption carpet?
The encryption carpet is a common fraud that is repeatedly linked to new promising cryptocurrency projects with a little transparency or unknown developers. In this fraud, the developers suddenly abandon a project, and they took all the money invested with them, leaving investors with no value and “withdrawing the rug from under it”, which led to great losses for those who invested in the project.
Now let’s dive into the list of carpets in the encryption that occurred in 2024.
1.
Jumping trading was accused of running a pump process and fragmented by using the District Code Code (DIO), which was originally intended for the fracture laboratory games project.
To stabilize HTX (formerly Huobi), the developer loan millions of distinctive dio symbols. The jump liquidated all its property at the highest price after appointing the influencers to increase the popularity of the distinctive symbol, which led to a sharp decrease with a decrease in the value of the distinctive symbol. Dio symbols were then returned to fracture laboratories when Jump bought them again for a quarter of their peak value, which leads to a decrease in their value.
At the time of this report, the DIO code is traded at $ 0.007276, with a rate of 98.8 % of its highest level ever at $ 0.5879.
2. Pulling the vertebral currency rug
Another currency that makes it to the largest clouds menu from 2024 is the FROGGY (FROGGY).
In early 2024, the Coin Froggy Coin Coin revealed a traditional in -no -central financing fraud (Defi). FROGGY COIN is marketed as a Meme symbol that meets social media users. Its humorous mark and rapid profit promises attracted many investors. On web sites like X and Reddit, developers generated excitement by photographing the distinctive symbol as a community -based initiative with strong support.
The liquidity group was funded by the first investors, which increased the value and legitimacy of the frog. The developers quickly drain the liquidity and discovered the value of the distinctive symbol after they decided that enough money had been collected.
At the time of this report, the distinctive code of the frog is traded at 0.0000000073964, a decrease of 99.95 % from its highest level ever at $ 0.00001577.
3. Pulling the hawk rug
On December 4, 2024, Hailey Welch was presented on social media Hawk Tuah (Hawk), a MIM currency in the world of encryption. Within 20 minutes of the first time, the value of the cryptocurrency decreased from $ 500 million to $ 60 million.
There was a major violent reaction from society online as well as legal authorities. According to what was reported, the American law firm Burwik filed a lawsuit against Hili Walsh and three other individuals behind the faded Hawk Meme.
At the time of this report, the hawk code is traded at $ 0.0006404, with a rate of 71 % of its highest level ever at $ 0.0022413.
4. Sharp Solana Mimi Caucas
Sharpei (Shar), a caricature of the MR PEI dog, was launched in October 2024. Thanks to a batch of influencers on the social platform, sometimes referred to as “major opinion leaders” or KOLS, rapidly increased to $ 54 million market evaluation.
The project’s presentation surface leaked as it reached its top, claiming that its developers had on board “50+ Class 1 Colbs” and planned to cooperate with stock exchanges and other projects. The paper lists many influencers who have denied any connection with this effort.
The main shareholders of Bonk Kadense and NOM refuted the leaked deck that Shar will enter a strategic alliance with the famous Bonk Meme Coin after reaching a market value of $ 100 million. Meanwhile, Joji, a borrowed effect with more than 200,000 followers, was also involved. The influencer collapses on this accusation, as a snapshot of Telegram communications, which is allegedly refuting the cooperation.
SAR fell from $ 54 million to $ 35.5 million during this time. The informed should be concerned about this because, after a huge planned sale, the distinctive symbol decreased by 96.3 % to $ 1.3 million in the market less than two seconds.
At the time of writing this report, the Mhar Token is traded by about 25 % less than its highest level ever at $ 0.001314.
5. Gunit Hack and BRUG PULL
Rap singer 50 cents, his real name is Cortis James Jackson III, He said Its location on the web and X account were at risk to announce a fake encryption currency called “Gunit”. Snements used the big fans base to inflate the distinctive code value before collapsing to $ 0.00016.
Although the real trade volume was 19.4 million dollars, Jackson told his 32.8 million followers on Instagram about the attack and claimed that the infiltrators had achieved $ 300 million in 30 minutes. Gunit has been sold in large quantities through many portfolios, with four accounts that sell more than $ 100,000 each. Jackson explained that he has nothing to do with defrauding the encrypted currency.
At the time of this report, the Gunit icon is traded at $ 0.00002133, which highlights a 100 % decrease from its highest level ever at $ 0.05085.
How do you stay safe from the carpet withdrawal in encryption?
To avoid becoming a victim of a carpet at the top of the carpet in the encrypted currency, you need to take several steps to protect yourself.
First, avoid trading distinctive symbols on decentralized stock exchanges unless the official project participates in the title of the contract for the distinctive symbol on its social platforms. Even after that, you should consider the project liquidity and know whether some governor does not keep the supply, because this is a clear indication that the project can spoil the distinctive symbols on you at any time you want.
Also, if the distinctive symbols are included in the central stock exchanges, make sure to read their basics and any changes to the total supply, as the symbolic offer can significantly affect the price of the distinctive symbol.
All in all, it is extremely important to do your search to avoid participating in the following big carpet in the world of encryption.
