Having been in this market for a long time, I have seen too many people suffer losses. Instead of scrambling at the last minute, it's better to know where the pitfalls are in advance. Today, I want to talk about some common exit scams.

**Type 1: Pump and Dump of Altcoins**

You've probably seen projects like this—overhyped promotions, claiming to be the next big trend or revolutionary innovation, with the community shouting "Hurry up and buy" every day. As hype builds, funds pour in, and prices soar. Then what happens? The founding team and early big holders suddenly dump their holdings. In an instant, from paradise to hell, and those who buy in later can only watch their investments evaporate in tears. To put it simply, storytelling can sometimes be more appealing than real skills, but after the story ends, someone has to pay the bill.

**Type 2: Hidden Traps on Exchanges**

Don’t think that everything is safe on legitimate exchanges. Hacks, regulatory storms, frozen funds—these are not just scare tactics. Some people even set up phishing exchanges; depositing funds there is a complete loss. So, be extra cautious when choosing an exchange.

**Type 3: The Kill of Leverage**

High leverage is like dancing on the edge of a knife. Even if your judgment on the market direction is correct, a single needle prick can trigger a forced liquidation, wiping out your principal instantly. There’s a saying in the circle: beginners die chasing highs, veterans die bottom-fishing, and experts die from leverage. Think about this phrase and reflect on your own account.