There are many different scams in the cryptocurrency space. Even today, some of those fictitious programs are advertised on platforms such as CoinMarketCap.
Criminals will always find a way to advertise their fake projects.
Crypto HYIP Ads on CoinMarketCap
More often than not, these scams will attempt to defraud investors by promising incredibly high returns.
One of these scam advertisements is now running on CoinmarketCap, apparently.
Why the owners of this popular site allow such advertisements to show up on their site, remains a mystery.
The scam in question goes by the name of CoinWallet.
It claims to provide interest rates of up to 0.15% per hour.
Those figures are completely fake, as no one can pay those kinds of interest rates on a continual basis.
Even 0.15% per day or per week would be hardly sustainable for most companies.
Even so, it seems likely to assume that some people will fall for these tricks regardless.
When market prices rise, everyone wants to get in on the market action and make some quick money.
It is during times like these when Ponzi Schemes and HYIPs will start popping up en message again.
Most veteran users will be capable of spotting these scams from a mile away.
Everyone else will have to use their common sense.