The rise of cryptocurrency has been a double-edged sword — on one side, we have financial freedom, and on the other, a playground for scams. The $LIBRA project, once hyped as Facebook’s grand entry into crypto, collapsed under regulatory scrutiny and public skepticism. Though it wasn’t a direct scam, its demise left important lessons about trust, decentralization, and how to identify potential fraud in the ever-evolving crypto space. Let’s break it down and explore how you can safeguard yourself in this landscape.

If it sounds too good to be true, it probably is

One of the major red flags in crypto scams is the promise of guaranteed high returns with little to no risk. Remember how LIBRA was supposed to revolutionize payments globally with the backing of major companies? The hype train had no brakes, and regulators quickly intervened. Similarly, scams today use exaggerated promises, like 10x returns or “risk-free” investments. Always verify the business model—no legitimate investment guarantees profits. Read more