$USDC Scammers, through various manipulation methods, convince victims to deposit increasingly larger amounts of money into "investments" in cryptocurrencies. In reality, these investments are fake; all the victims' money is under their control and is eventually stolen by criminals, usually abroad. As a result, victims often lose all the invested money.

One method is to make it seem like there is significant growth of the tokens, which drives FOMO or fear of missing out.

An example is the following chart in which one can see the exponential increase until it reaches a value of over thousands and suddenly dropped to around 4 in a short time; this just happened and you can verify it in the web3 wallet.

In this sense, it is recommended to be cautious with these promising spikes and to stay alert.