Every day, thousands of memecoins are launched, and unfortunately, around 95% of them turn out to be scams.
I agree most of meme tokens, tokens not coins, are scam but I disagree with you that every day, thousands of meme tokens launched.
Would you mind sharing sources of this figure, please.
This scam epidemic is affecting many people, especially newcomers who lack experience and are more vulnerable to such scams.
Can you change them?
If they are greed, let them be and they will stop their greed and stupid investment style when their losses hit their limits. Because they are greed, they are vulnerable to all types of scam, not only scam meme tokens in cryptocurrency market.
Unlike DEX, these platforms provides more security, reducing concerns about being unable to sell,or removal of LPs.
Removing LPs is called as rug pulls but scam projects can scam exit even they already listed on centralized exchanges CEXs. Newbies should not think if a project is listed on Binance, it is not a scam project.
Rug pull definition, what is it?The definition of a rug pull is a malicious maneuver in the cryptocurrency industry where crypto developers abandon a project and run away with investors’ funds. Rug pulls usually happen in the decentralized finance (DeFi) ecosystem, especially on decentralized exchanges (DEXs), where malicious individuals create a token and list it on a DEX, then pair it with a leading cryptocurrency like Ethereum.
Rug pulls thrive on DEXs because these types of exchanges allow users to list tokens for free and without audit, unlike in centralized cryptocurrency exchanges. Furthermore, creating tokens on open source blockchain protocols like Ethereum is easy and free. Malicious actors use these two factors to their advantage.