Honeypot

Honeypot crypto scams are a type of fraud similar to traditional honeypots in that they use a trap to lure in unsuspecting victims. Still, the goal is to steal money or personal information from the victims rather than track and identify attackers. One way honeypot scams can be set up is by creating fake cryptocurrency exchanges or wallet services that are advertised as offering great deals or bonuses. Victims are lured in by the promise of easy profits and are…