Double Spending

One of crypto’s biggest red flags. It happens when someone tries to use the same coin in two different transactions. In traditional finance, this is caught by a central authority like a bank. In crypto, blockchains prevent it by having every transaction verified across a decentralized network.

However, if someone takes control of more than 50% of a blockchain’s computing power (a situation called a 51% attack) they could rewrite the transaction history and make double spending possible. It’s rare, expensive, and difficult to pull off, but it’s a reminder of why decentralization and security are non-negotiable.

Related Terms

Scamcoin

A crypto that has zero value or utility. It’s created purely to trap buyers, pump, and dump. DYOR or get dumped on.

Rug Pull

When a project disappears with your money. Usually after hyping up a token, collecting funds, then ghosting. One of crypto’s greatest risks.

Phishing

A scam where bad actors try to trick you into giving up your private keys or seed phrase. Looks legit. Isn’t. Always double-check links and wallets.

Exit Scam

When a project raises funds and then vanishes, taking your money with it. Looks promising at first, disappears right after the rug is pulled

51% Attack

Also known as a majority attack. When one or a group of miners control greater than 50% of the network's mining hashrate or computational power.