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The cryptocurrency space is still teeming with all manner of fraudsters, scammers, hackers and ne’er-do-wells, all seeking to profit illegally in an industry that is still suffering from lack of proper law enforcement. The year 2023 has seen a considerable decline in crypto-related crimes, according to a report by Chainalysis, largely due to the overall slump in liquidity volumes on the market, making it less attractive for criminals. Still, crime still runs rampant throughout the crypto industry and the following is a list of the most common types of fraudulent schemes encountered by users in the market in 2023. The Investment Manager

Cryptocurrency space is well known for its mass of fraudulent activity. The malignant players of cryptocurrency space resort to a great number of fraudulent schemes to trick users into giving their money away. One of the most common types of fraud that cryptocurrency space is known for is called the rug pull tactic. What Is a Rug Pull Tactic? A rug pull is when the development team of a project suddenly vanishes, abandoning the project, and instantly sells off its native assets, or drains available liquidity. The name of the tactic comes from the malignant trick of pulling a rug out from someone’s feet, essentially making them lose thei