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What is crypto exit SCAM?
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What is an Exit Scam? An exit scam is a fraudulent practice by unethical cryptocurrency promoters who vanish with investors’ money during or after an ICO. The modus operandi is simple – promoters launch a new cryptocurrency platform based on a promising concept; the ICO then raises money from various investors; the business may or may not run for some time; and then the promoters who had collected the ICO money disappear, leaving the investors in the lurch. Due to the decentralized, anonymous and regulation-free operations of the virtual currency ecosystem, it is difficult to trace scammers who dupe the investors.