1. There are bad men everywhere ready to cheat you.
2. There are bad men everywhere who are ready to cheat you.
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Q1: Are both the same?
Q2: Does 'men' mean 'male persons'? Or Does 'men' mean both male and female persons?
Both are correct, but you need a comma in the first sentence, between "everywhere" and "ready".
In this case, "men" probably means a male person. If it was to mean male or female, we might say, "There are bad people everywhere..."