#Web3Scams
Endless cryptocurrency and NFT scams dominated 2022.
Origin & Impact
2022 was golden age for crypto scams: rug pulls, phishing, fake influencer endorsements, and Ponzi schemes. Celebrities like Kim Kardashian were fined for promoting scam tokens. “Web3” promised decentralization but delivered pump-and-dumps.
The hashtag documented scam after scam: Discord hacks draining NFT collections, fake mints, VC-backed tokens collapsing, and influencers shilling worthless coins. It highlighted how unregulated markets attract fraudsters and prey on FOMO. The scam prevalence damaged crypto’s legitimacy.