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Scams and Fraud in Decentralized Finance

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The Decentralized Finance is not always a lofty promise of profits, it is also plagued with scams and fraudulent projects. For example, in 2021, Squid Game Token ended of being a a rug pull that caused millions in losses for investors. Then there was Terra Luna, a Ponzi scheme where the creator defrauded over a billion dollars. DeFi sure gives you control over your finances but it can also rope you into scams and fraudulent projects.
 
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