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Crypto scams are a type of fraud that revolves around cryptocurrencies. Scammers often promise high returns on investments in digital currencies. They create fake platforms and websites to trick people into investing. The scam typically involves promising unrealistic returns on crypto investments. Scammers may also use social engineering techniques to convince victims. They can impersonate legitimate companies or celebrities to gain trust. A common tactic used by these fraudsters is the "pump and dump" scheme. Here, they inflate the value of a lesser-known cryptocurrency. After attracting investors, they sell their shares, causing the value to plummet. Another strategy is the "initial coin offering" (ICO) scam. The scammer claims to be launching a new cryptocurrency and asks for investments. Once they collect enough money, they disappear without delivering the promised coins. Always remember, if it sounds too good to be true, it probably is a scam.