Crypto and NFT Scams Are Everywhere, But Here’s Why You Should Still Take web3 Seriously

There’s Always a Fine Line Between the Future and a Scam

Joe Procopio
5 min readJun 27, 2022
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Another day, another crypto/NFT/DeFi scam.

If you want a handy transcript of web3 carnage, you can fall down the rabbit hole reading web3 is going just great, former HubSpot developer Molly White’s blow-by-blow account of the seedy underbelly of crypto/NFT/DeFi rug pulls, exploits, wipe-outs, and other shenanigans.

I mean, I knew there was a lot of shady stuff happening in the web3 universe, but scrolling through Molly’s site is like watching a long, slow, stupid, multi-car pile up. There’s even a ticker at the bottom showing how much “money” got burned as you read each quick hit.

And I use quotes around “money” not because I think crypto is fake and NFTs are worthless — I use the quotes because I honestly don’t know if crypto is fake and NFTs are worthless.


So before you argue with me about the future of web3, one way or the other (It’s the future! It’s a scam!), let me try to spray a little foam on the (fake money fueled) fire.

I’m Not a Noob, Just a Fan of Nuance



Joe Procopio

I'm a multi-exit, multi-failure entrepreneur. NLG pioneer. Building & GROWERS. Write at and More at