A merge scam consists of a scammer who attracts investments from unknowing users on the pretext of returning double the amount in the form of a newly created token.
Chainalysis’ research found that between 14 September to 16 September, merge scams were actually more popular than other kinds of scams that are usually seen in the crypto space. “In fact, the data suggests it was hard not to make at least some money if you were running a halfway decent Merge scam on and around September 15.” the report stated.
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