In pancakeswap they do not call it a scam, they call it a "rug pull". That means project team creates a token, promises a lot of things, then they do not do those things, that's called a rug pull. They just get funding from people, or charge "tax" for stuff like harvesting from Lp and so forth, get money and use that money to basically end up not doing anything and living better. People who realize this gets out, they sell and the coin drops a lot.
Very recently a coin I invested did that, it is called "fullsail" and the token was called sail, it was basically just a token that had a potential and everyone invested, on the first ever day it reached as high as 380 dollars per token which was too much we knew that, and on first few days it was around 100 dollars, and on next week it became under 40 dollars, those were expected things, but then they did a rug pull and now it is under 60 cents.
That's terrible one. Reaching $380 and now, at only 60 cents. Too bad for those that didn't get out early. They maybe were thinking that this was a very good source of easy money, but came to find out they were not and were screwed. This is the reason why you need to check the authenticity of the project. Not only the smart contract address, but if they really do have capability to deliver their objectives. But usually, you can't gauge at the early stage of development, as they will give you good promises. Not all defi projects are good, most of them are worried about the money that they can pocket. So better not listen to FOMO or any other enticing baits.
