Overall, what is the most common scam I hear about in the crypto community? It’s simply deceptive actions to steal assets, usually cryptocurrencies. Those who do this are called scammers, and if caught, they must face penalties.

The danger is that today the internet develops too quickly, and scam methods become more sophisticated and complex. A scam can spread across many countries, affecting millions of people at the same time.

When participating in the crypto market, "getting scammed" is a phrase that everyone has probably heard or experienced. Most victims don’t realize they’ve fallen into a trap, or some know but still participate to make quick profits. A typical example is the Ponzi scheme — where the later investors pay the earlier ones. Initially, everyone profits, but when no new people join or the system becomes too crowded, it collapses and everyone loses.

There are a few common types of scams I want to share. First is Scam ICO — in 2017, many ICO projects appeared, taking advantage of creating new cryptocurrencies, advertising heavily, hiring KOLs to promote and attract people. After raising funds through the ICO, they abandon the project and disappear with the money. To identify this type, pay attention to whether the project has clear solutions, whether blockchain is truly necessary, if the team is anonymous or inexperienced, if the website and whitepaper are poorly developed, and if the roadmap is complete.

Second is liquidity withdrawal, often happening on DEXs. Scammers build a complete product, issue tokens, and list them on exchanges like Uniswap or PancakeSwap. Warning signs include low liquidity, liquidity that can be easily withdrawn, and unrealistically high APY promises. There are also other scams like locking token trading functions or hacking the project to dump tokens.

How to avoid scams? Before investing, you need to thoroughly research the project. Check what solutions they offer, whether blockchain is really needed, how the community is, and what the tokenomics look like. Currently, many websites and tools help verify projects. You can check the smart contract to see if there are suspicious holders or founders.

Another important thing is when connecting your wallet to a website, make sure that website is reputable and secure. After you no longer need it, remember to revoke permissions to prevent misuse and asset theft.

In summary, you already know what scams are — they are always present dangers in crypto. Understanding the different types of scams will help better protect your assets. I hope this sharing is useful for everyone. Wishing you safe investing!