Crypto & NFT Projects That Are TOTAL Scams..

Welcome back to Income Focus, today on the channel we are going to check out the Crypto and NFT Projects From This Month That Were Total Scams. The cryptocurrency and non-fungible token (NFT) marketplace is filled with scammers. Investors lost over $1.7 million to grifters in March alone, with project founders draining all the liquidity in a given project. To be clear, these aren’t crypto and NFT projects that got hacked. There were plenty of those in March, among them the largest in history—the Ronin Network was hacked for $625 million. These are crypto and NFT projects that were outright scams from the start, where the founders of the projects made off with a lot of money from unsuspecting investors. This month saw less stolen by scammers than January ($4 million) and February ($8.5 million) but $1.7 million is still a sizable chunk of change to evaporate.

Real Swak ($580,000) The grifters behind Real Swak made off with about 1,300 BNB coin, worth about $580,000 in total, according to crypto monitoring firm Peck Shield. Investors were left with no recourse to recover their funds. The website for Real Swak was pulled offline. Perhaps they should have been more skeptical with their cash. An archived version of the site from the Wayback Machine shows a litany of ridiculous claims, including that Marvel and Disney were involved with the project. Serval Finance ($500,000) Serval Finance, a project run by Mad Meerkat Finance on the Cronos blockchain, turned out to be a rugpull, with at least one developer making off with about $500,000 in crypto. In a post on Medium, MM Finance wrote that a “developer within the team went rogue, and stole funds.” And while the anonymous folks operating MM say that some of the funds have been returned to people who lost money, we here at Gizmodo can’t independently confirm that’s actually happened. Watch till the end for more on the Crypto and NFT Projects From This Month That Were Total Scams.

#CryptoAndNFTProjects #CryptoAndNFTProjectScams #Crypto

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