An Overview of Smart Contracts Scams

Smart contracts have gained popularity in recent years because they enable the automation of certain tasks, eliminate the need for intermediaries, and ensure that agreements are carried out in a trustless manner. However, like any new technology, smart contracts have also given rise to a new form of fraud known as smart contract scams. Smart contract scams exploit the trust of investors attracted to the promise of high returns. Scammers create fraudulent smart contracts that appear to offer lucrative investment…