- A confidence trick or fraud, perpetrated under the guise of a legitimate business, that ends when the originator absconds with the funds contributed by participants. When a business entity pulls the rug and stops shipping orders while receiving payment for new orders, it could take some time before it is widely recognized that orders are not shipping. The entity can then make off with the money paid for unshipped orders. Exit scams are commonly associated with the rise of cryptocurrency projects due to the lack of regulation and decentralized ecosystem. ← Wikipedia
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