September 28, 2022

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The whole crypto community is excited about the upcoming Ethereum merge, an event that will significantly change the landscape of the crypto industry. With experts on various sides of the discussion arguing about the effect of the merger on regular investors, many people feel not only excitement but also anxiety.

The lack of people doing their research facilitates fraudulent activities

The sad reality of the crypto industry is that many people are trying to use various international events as opportunities to scam other users who may not be as knowledgeable or informed. Despite a surge in search volume for the term “Ethereum merge”, many holders of ETH are still not sure what the event will change.

Many people predict a hard fork due to ETH miners leaving the mainnet also add oil to the fire with many investors believing that their tokens are in danger. Developers of the Ethereum network have tested the merge procedure many times, the latest upgrades were rolled out with some issues but ultimately went as expected, the whole network is ready — there is nothing to fear, but the collective anxiety is still high.

Some users reported that Buterin impersonators tried to contact them and offer their services of storing or staking ETH in preparation for the merge. Some people encountered similar scammers on LinkedIn. Social media are crawling with those who prey on people not informed about the upcoming merge. Users without technical know-how may believe that their tokens will be threatened by the merger and fall victim to such fraudulent activities.

The panic is completely unjustified!

Again, we have to stress that the Ethereum network will merge without users noticing. The process was designed to be as seamless and smooth as possible. You won’t see any significant service disruptions or other issues with the network’s performance. It will even start working more efficiently and slightly faster, although not by much.

The FTC reported that over $770 million is lost to different scams proliferating on social media. During the merge, thousands of scammers will try to steal your tokens! Don’t believe them.


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