Acams CCAS Exam - Topic 1 Question 3 Discussion

Actual exam question for Acams's CCAS exam

Question #: 3
Topic #: 1

[All CCAS Questions]

Misconfigured smart contracts can allow which type of scam to occur?

APhishing

BSIM

CRug pull

DRansomware

Show Suggested Answer

Suggested Answer: C

Misconfigured or poorly designed smart contracts can enable rug pull scams, where developers create fraudulent decentralized finance (DeFi) projects or tokens and then withdraw liquidity or funds abruptly, leaving investors with worthless assets.

Phishing (A) and SIM attacks (B) relate to social engineering and telecom fraud, respectively, and ransomware (D) is malware demanding payment. Rug pulls specifically exploit smart contract vulnerabilities.

The DFSA and AML thematic reviews on crypto highlight rug pull scams as a key operational and financial crime risk linked to smart contract vulnerabilities.

by Lawanda at Aug 14, 2025, 07:51 PM

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Brittni

7 months ago

Phishing is more about user deception, not contracts.

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Tawny

7 months ago

Wait, are rug pulls really that frequent?

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Lennie

8 months ago

Rug pulls are super common with misconfigured contracts.

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Carlton

8 months ago

Totally agree, it's a huge risk in DeFi!

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Sena

8 months ago

Definitely a rug pull, seen it happen too many times.

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Alica

8 months ago

I’m a bit confused; I thought ransomware was more about data than smart contracts. Could it be an option?

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Percy

8 months ago

Rug pulls seem like a strong possibility here, especially since they exploit vulnerabilities in contracts.

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Delila

9 months ago

I remember studying phishing attacks, but I don't think they directly relate to smart contracts.

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Martina

9 months ago

I think misconfigured smart contracts could lead to a rug pull, but I'm not entirely sure if that's the only type of scam.

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Blossom

9 months ago

Wait, is it phishing? I'm a bit confused now. Phishing could also be related to smart contract vulnerabilities, if the scammers use that to trick people. I'll have to re-read the question and options again.

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Caitlin

9 months ago

Rug pull, definitely. Misconfigured smart contracts are a common way for scammers to steal funds from investors in a crypto project. I'm confident that's the right answer.

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Pansy

9 months ago

Okay, I think I've got this. Misconfigured smart contracts could allow a rug pull scam, where the developers secretly withdraw all the funds from the contract. That seems like the best answer here.

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Loren

10 months ago

Hmm, I'm a bit unsure on this one. I know misconfigured smart contracts can lead to security vulnerabilities, but I'm not sure exactly which type of scam that would enable. I'll have to think this through carefully.

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Clemencia

10 months ago

I'm pretty sure this is asking about a type of crypto scam, so I'll focus on the options related to that. Phishing and rug pulls seem like the most likely choices here.

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Chan

10 months ago

I'd go with C. Rug pull. Heard about that happening a lot in the crypto space, especially with new projects that don't have their contracts properly audited.

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