#Crypto_Ponzi_schemes are a type of investment fraud where investors are promised high returns with little or no risk. However, the promoters of these schemes are simply taking investors' money and using it to pay off earlier investors. Eventually, the scheme collapses and investors lose their money.

Ponzi schemes are fraudulent investment operations that rely on new investors' funds to pay off returns to earlier investors, creating an illusion of profitability. While it is difficult to determine the exact amount of money lost specifically in crypto Ponzi schemes, there have been numerous high-profile cases involving substantial sums of money.

As the largest form of cryptocurrency-based crime and one uniquely targeted toward new users, crypto scams pose one of the biggest threats to cryptocurrency’s continued adoption. But as we’ll explore, some cryptocurrency businesses are taking innovative steps to leverage blockchain data to protect their users and nip scams in the bud before potential victims make deposits.

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