# Why is Crypto Full of Scams??

*Author: David Hoffman*
*Published: Jan 14, 2023*
*Source: https://www.bankless.com/de/podcast/why-is-crypto-full-of-scams-2*

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To the outside world, crypto is that corner of the internet where you go and lose money to scams and rugpulls. But Bankless readers know that’s not what we’re about. Bankless has a different vision for crypto: a new frontier, a digital world, built on free and open-source software, that allows us to exit from the Wall Street and Silicon Valley institutions that have captured the world we live in. Is crypto really just one big scam? Or is it the land of opportunity?

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**TIMESTAMPS**

00:00 Intro

01:34 Concentric Circles

01:45 Core Devs

03:29 Crypto Believers

06:59 Grifters

09:27 Alex Mashinsky - Celsius

10:33 Daniel Sesta - Wonderland

11:21 Do Kwon - Terra

13:17 The Fight

14:17 Permissionless

15:05 What to do to fight the grifters

16:56 Tools to keep your crypto safe

18:53 Closing

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**RESOURCES**

The Defiant 
[https://www.youtube.com/thedefiant ](https://www.youtube.com/thedefiant)

The Daily Gwei 
[https://www.youtube.com/c/TheDailyGwei](https://www.youtube.com/c/TheDailyGwei)