Some celebrities and the crypto pump and dump schemes
There are various crypto pump and dump schemes that occurs, so many crypto scams which occur frequently and many people have their investments trapped and they get scammed..
Many of these scammers now use celebrities to promote and market their crypto scams and because these celebrities have large followers, it makes it easy to convince millions of followers to invest in the pump and dump schemes and when they lose their investments they won't be able to recover it back and even the celebrities will be nowhere to be found and will not help the follower that was scammed.
Social media have made it possible for those scammers to promote their scams to millions of people and many people get scammed , the scammers use popular people to promote their scam crypto projects and it is rewarding for the scsmmers because they use it as a tool to lure a large number of people into their scam projects..
Something needs to be done to make sure that celebrities who promote these scam projects should be dealt with too or at least cautioned against promoting any projects without making sure that the project is legit and not a scam.
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