Imagine starting a lemonade stand, taking everyone's money, and then disappearing before giving out any lemonade! An exit scam is exactly that kind of trickery in the crypto world. It's a fraudulent scheme where a project raises money from investors and then vanishes with the funds. This can happen with new crypto projects or even fake exchanges. Be cautious of projects that make unrealistic promises or pressure you to invest quickly. Remember, if something sounds too good to be true, it probably is! Always do your own research (DYOR) before investing in any cryptocurrency project.
