Dipartimento di Informatica

Date:  March 31, 2023
Time: 10:30
Venue: https://meet.google.com/rgv-azao-eiv
Speaker: Massimo La Morgia

Title: Evolution of frauds in the cryptocurrencies world: from the centralized to the decentralized ecosystems

Abstract: The cryptocurrency market is loosely regulated. Financial frauds, like Pump and Dumps and Ponzi schemes, illegals on traditional stock markets are more vital than ever in cryptocurrency markets. Even if policymakers are moving towards building a safer environment for cryptocurrency investors, it is a complex task and needs time. Meanwhile, blockchain-related technologies evolve fast, and with the birth of DeFi, investors and scammers began to move from centralized exchanges (CEX) like Binance to decentralized exchanges (DEX). Here, new scams take place. In this talk, we explore the 1-day Rug Pull, a fraud that is easy, fast, and cheap to arrange and generated more than 240 million in profits for scammers.