What is a meme coin scam?

A meme coin scam is any dishonest scheme or fraud involving meme coins. Meme coin scams can be direct or indirect. This means the meme coin itself can be a scam, or circumstances around the meme coin can be used for exploitation..

How do you spot meme coin scams?

You can spot meme coin scams by researching. Understand the different types of scams to recognize when a project is legitimate or not. Many meme coin scams are not transparent, lack a clear direction or documentation, and often attempt to capitalize on legitimate projects or an individual's celebrity.

What to do if you are scammed?

Immediately cease all interactions and communications. Document the scam and contact the relevant authorities. These actions will not guarantee the recovery of funds but can help prevent future scams.