Scams asphyxiate crypto markets


Gnox aggregator seeks contagion from pancakeswap scams and rugpulls at binance chain, ethereum, polygon and cronos, into avalanche, velas and newer blockchains. Excessive privacy entails delinquency through lack of transparency.

Scammed users worldwide have nowhere to appeal. Crypto companies thrive on promoting fraud. An abundance of fake coins raises profitability of genuine coins while ensuring fresh daily inflows from stolen funds to increase certain treasuries.

Crypto adoption should peak next year if scams are not aggressively prosecuted by international legal enforcement organizations. People will run away from widespread fraud into safe stores of value. Holding your keys means nothing if you get hacked.

Bitcoin is too expensive, slow and environmentally unfriendly. Ethereum fees will not decrease. Binance chain is cluttered with scam transactions no one dares to investigate. All kinds of unsellable airdrop tokens threaten otherwise safe wallets.

Thousands of freshly minted cryptocurrencies increase the total industry supply cap. Scams transfer earnings from world's people into criminal hands. Litigation for funds recovery takes years. Bear market seems ripe to flush out madness.

Rubén Rivero

Caracas, Venezuela