LifeHacker - Don’t Fall for This Crypto ‘Front Running’ Scam on YouTube

in blockchain •  2 years ago 

https://lifehacker.com/don-t-fall-for-this-crypto-front-running-scam-on-yout-1849849521
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Simply put, front running involves the following:

  • the front runner waits for the victim to make a crypto transaction, then
  • he hijack it by paying more "gas fee" than the victim.

The newly purchased cryptocurrency is then immediately resold by the front runner at a higher price, just as the slower victim transaction occurs, and the front runner makes a profit.

Finally, the victim gets less crypto than expected because prices rise at the last moment.

Beware of this clever scam!!

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