How to get scammed through RUG PULL and how not to get caught
Rug pull is the theft of money by token developers, common on DEXs (where they control trading) and especially in meme tokens (where you don’t have to fool around with WP and the rest). At some point, the team simply takes all the money and rides off into the sunset.
3 types of rug pull:
Withdrawal of assets from the liquidity pool on DEX.
Changing the smart contract with a ban on the sale of tokens.
The team/insiders drain all available token reserves in a short time
What to do:
In theory, any team with a token on the DEX can turn bad at any time and take the money, so the best defense is not to use the DEX.
If the first option is not suitable, you need to collect as much information as possible about the project/team/token/contract and double-check everything several times to minimize risks.
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Stay tuned guys. And put if you want more educational posts.
#Education #RUGPULL #Scam #DEX
CRYPTO DOPEMAN
