The latest NFT scam in 2023 is the ApeCoin rug pull.
ApeCoin is a new cryptocurrency that was created by the Bored Ape Yacht Club (BAYC) NFT community. The coin was launched on March 17, 2023, and quickly rose in value, reaching a peak of over $30 per coin.
However, on March 23, 2023, the ApeCoin developers abruptly shut down the ApeCoin website and social media accounts, and disappeared with over $300 million in investor funds. This is a classic example of a rug pull scam, where the developers of a new cryptocurrency hype it up and then disappear with the investors' money.
This is not the first time that an NFT project has been the victim of a rug pull scam. In fact, there have been many NFT scams in recent months, with investors losing millions of dollars.
Only buy NFTs on reputable exchanges. #crypto2023