They're really just doing it to themselves at this point. When will public opinion tip over in a way that keeps people from putting money into scam crypto?
I have a bad habit of looking at Reddit users' comment histories (hey, it's public) and a not insignificant number of them are investing in stuff like Shiba coins, not to mention GameStop and AMT shares. Having a typical (non tech) income in America will make people desperate for any chance at getting rich.
People know that it's a scam. But they just hope to find a bigger fool later on.
In this case you could only buy the tokens, non whitelisted users couldn't sell them, so no matter what happened you'd be losing
uhm, hate to break it to you, but the depth of the pool for the one two combo of fomo and greater fool theory is quite deep.
This is pocket change on the scale of monthly crypto thefts/scams.
Outright scams?
Or pump and dumps of arguably less valuable stuff over the long term?
Outright scams or thefts due to complete negligence.
Squid Game Cryptocurrency NFT makes $3.3M for Creators
It's sad that mainstream publications only seem to post about random scamcoins. It's like if Bloomberg posted exclusively about penny stocks.
There's a lot of innovation in Ethereum that seems totally ignored!
The team behind this project did this only for the hype. The investors thought they could make something and take a risk on this one. This incident will criticize the cryptocurrency into a negative one.