Bitcoin Forum

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If anyone knows of any crypto scams to watch out for or has been exposed to any can you please advise what?

 I can't afford to invest in rip off pump and dumps so looking at other ways to invest and grow my holding. What are good investment options worth exploring and what should be avoided? or is it better to just sit on Bitcoin,

Please list any known scams for all to see and avoid.  :)

Scams to watch out for highlighted by members so far are:

TEAM VIEWER  People claiming to be from companies say they need access to your computer and use a software called team viewer to gain access – in some cases they rob your digital wallets. If you don’t know them don’t give them access.
 
BITTREX Although Bittrex is not a scam exchange as such it can be naughty from time to time with its rules which usually results in the user loosing – TIPS - don’t keep all your money on one exchange, be careful to read terms before carrying out transactions and keep high volumes of BTC on a ledger which is like a USB stick so it is held off line and can’t be hacked.

INITIAL COIN OFFERING Aka: I.C.O’s  Allot of ICO’s are scams, be careful to do as much due diligence as possible, online cyber criminals usually set up fake websites, fake social networking, email addresses and even phone numbers so go the extra when doing checks – one suggestion was doing extra checks like checking for a linked-in profile or registered company number that can be verified through companies house.. Another preferred alternative is to not invest in crypto currencies at ICO stage and to let coins come out first and monitor them for a few weeks before investing – this will help you avoid allot of the scams.

EMAIL PHISHING – DO not open emails from ICO companies or anyone you have not subscribed to (Don’t subscribe without doing due diligence.)

To invest you better buy bitcoin or also coin coin which has high technology and good coin that have been trusted like ETH, etc, doge, I invested in coin that I mentioned earlier.

So far I've never found a fraud site because I just sit with bitcoin, both trade and investment and that's enough for me.

Hi , Thanks for feedback Sundarmoon, I also have some of the top coins. Is there any scam s you know off to avoid?? Is it still worth trying in ICO's or has that boat sailed and all pump and dump now? Is it better to hold in BTC or risk underdog alts to increase BTC  :-\

I was thinking holding BTC might be better also, thanks for input WUUEX79, do you margin trade? or even with day trades how do you judge when to buy and sell, any good tips?

Scam coins actually starts as visible scam.  They are scamming their own ICO buyers,  making another fake site aside from their true ICO site for scamming purposes. They do not pay fair their bounty participants. Making false profiles,  do not appear in public. Etc..

someone once teamviewered me and then took control of my pc. went into blockchain.info and saw the private key. that's dumb of me but it's the only time i got crypto-scammed

I do not believe that crypto is a scam, I think this is a very good forum to earn big profits because for me it is very easy to earn big profits, especially with your investment in atlcoin for me very easy to get a lot of crypto, because I am sure bitcoin price will always rise higher than the current price.

Is there any obvious ways you can spot scam ICO's faithupgrade. I have heard of that teamviewer scam what a nightmare, thanks for putting that out there for others to avoid ShiftKeyBroken.

Hi Arroware, I would agree all crypto are not scams although there are allot of scams out there so if you got any idea of what to watch for or how to hedge please share for all. 8)

You may want to check this board OP of the potential scams to watch our for. https://bitcointalk.org/index.php?board=83.0


If you want to avoid being scammed then do your due diligence if ever you decided to invest in an ICO. Check the information in their announcement and website and if there is a way for you to verify the information they provide then you should do it like checking their linkedin account and if they have partnership with other companies, you may want to verify it as well. If ever you received e-mails from an ICO you didn't subscribe then be on alert because it maybe just phishing.

Excellent board entrepmind23, thanks for input, great tips with 'linkedin account and if they have partnership with other companies' to help verify ICO's are legitimate.

hello friends, sorry I want to ask here. I also often receive emails that suggest me to invest but I do not have the courage to open it because there is a sense of fear for it is phishing. So what should I do?

I would advise following previous comment ' If ever you receive e-mails from an ICO you didn't subscribe to then don't open email. If you are giving your email address to potential ICO investments make sure you do due diligence first.  ;)

Bittrex.
for about 3 or 4 years when contacted they said they have no problem with giving service to people from certain countries. they also said old accounts that have been created before certain date won't require verification and will remain legacy with their withdrawal limit at 2000BTC per day.

a couple of month ago, overnight, they decided to change this rule without any warnings. they first disabled every legacy account and turned their withdrawal limit to 0.
then they blocked accounts of all those people without any warning, effectively stealing their funds (bitcoins and altcoins they had in bittrex wallet). they did this to thousands of users and have not even answered their tickets let alone pay them back.

yes, we must be observant when looking at altcoin that will be used as an investment. because in the market a lot of altcoin that is not noticed by the maker.

so, it can give us a loss, and I suggest that you choose a coin that has good development. coin that noticed by maker, its spreading and volume are high, and also able to survive in unstable market conditions.

but, stay in bitcoin also very good.

Thanks for the heads up pooya87, I would have expected better from BITTREX however they also would not reverse or return 0.5 btc that i accidentally sent to BCC the day it came out  grrrrrrrr watch out for BITTREX SCAMMING it seems like ::)

Me also I dont believe that is is scam,maybe theirs a lot of scammer joining but crypto is not.For how many years that its proven to us and helping to make rich and no doubt for that.

There are a variety of these online scams, which often use "social engineering" tactics, but the primary ones to worry about are initial coin offering (ICO) fraud, phone-porting, fake wallets and malware.A cybercriminals will create a fake website or social media account and use phishing emails to promote a phony  offer or other trick.

I have updated an overview of scams mentioned so far. Let me know if any has been missed, said wrongly or needs added.

Thanks.

 8)

Lol ;D that's a very funny crypto story i read.
Why you let him teamviewered? You have a transaction? Better to close blockchain site first and clean your desktop before letting him to teamviewed your Desktop don't trust any user here on internet that is anonymous just look for their important informations before accepting the transactions.

He is not the only one SmokerFace, I have heard of a few people getting stung by Teamviewer when they think the party is coming in to do something else like clear cookies or get something working.  :o