Are rug pull NFTs illegal? Hard rug pulls, which occur when a project’s founder uses coding to maliciously use the project as a way to defraud investors, are completely illegal.
Can Bitcoin be rug pulled? The scam, which gets its name from the expression “pulling the rug out,” involves a developer attracting investors to a new cryptocurrency project, then pulling out before the project is built, leaving investors with a worthless currency. It’s part of a long history of investment schemes.
How do I stop rug pull crypto? Investors can protect themselves by choosing established cryptocurrency projects, making sure the code of any new project has been reviewed and verifying the developers’ identities. Rug pulls are most common with new projects that haven’t gotten the same scrutiny as more established cryptocurrencies.
How do I report a rug pull? Announcement! We are compiling lists of rugpulls,scams, fake wallets (individuals & corporate) pls send us all ur concerned cases/names to our page or via our email:[email protected] Equally follow the page for updates soon as they are released. Say no to scams!