According to AltcoinGordon, crypto scams in 2024 have doubled, causing American investors to lose $9.3 billion, which marks a staggering 66% increase compared to 2023 levels (source: twitter.com/AltcoinGordon/status/1916812234266681566). This sharp rise in fraudulent activity highlights significant risks for traders, especially those engaging in high-volume altcoin and DeFi transactions. Market participants should prioritize security, employ robust wallet protection, and conduct rigorous due diligence before committing funds, as the surge in crypto scam cases directly impacts market volatility and trader confidence.