HOW TO protect yourself from Scammers

[acord00]

We can keep ourselves from fraud by having deep knowledge and insight. For example, we intend to follow ICO. So that we avoid the scam then we should know and seek information about the ICO in depth. When we have knowledge then we indirectly apply smart strategies and protect us from fraud. Besides that in order not to engage in fraud then we must have high confidence, we should not be affected by negative issues that just make us follow the wrong ICO and cheat.

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[12tribes]

To protect yourself from scam and related infringes, you will need to have a highly suspicious mindset such that when unsolicited mails arrive, you are wary to click on them talk more of clicking on them. This way you stay safe and unnecessarily predisposed to hackers activity and fraudulent messages. The other point is use a metamask or trezzor wallet to stay safe from the activity of internet sharks. That way, you remove you asset from online to offline and keep them cold.

[btcCoincart]

Nice sharing. You guys should investigate all the things related to the project you are going to join, check team work, check products... hope you will not be scammed by any fake project

[zxl912157]

Just hold on to your Bitcoin, don't use it to take part in the ICO because many ICOs are SCAM now.
Unless the ICO is done in your country, if it is in your country, when there is a wrong communication, you can go directly to the head office.

But the rest can only hold Bitcoin until the price rises and is suitable for sale.

[Tahir460pk]

Yes it's good topic relating about the awareness how to protect yourself from scamers because their many people who complaint about the scamers some hunter's complaint about not received reward so must read the project and profile media team white paper must be read and see the rating of all ICO than make your mind in this way you be a edge of safe investing.

[xiboothrezi]

We can keep ourselves from fraud by having deep knowledge and insight. For example, we intend to follow ICO. So that we avoid the scam then we should know and seek information about the ICO in depth. When we have knowledge then we indirectly apply smart strategies and protect us from fraud. Besides that in order not to engage in fraud then we must have high confidence, we should not be affected by negative issues that just make us follow the wrong ICO and cheat.

That's the point. Having basic knowledge about cryptocurrency is the best protection to deal with all risks. We also have to be smart to establish cooperation and share information with other trusted friends. With the existence of a wide communication net, information will be easy to get and discussed carefully.

[prikitiw]

Doing research before making a decision is the first thing I always do before starting to enter the ICO project. I have saved thousands of dollars this way. I realized it several times that something was wrong with that and in most cases, the sites were affected and investors lost their money. When it comes to crypto, it is about self-responsibility and we are appropriate for our actions.

[Sylvei]

There is no other way to protect us from scammer that is much reading and improve our self or knowledge about this cryptocurrency. Then we should take care much with our profit.

[telexnetwork]

this has been a serious discussion for recent here now, more project more scammers another scamming method I discovered recently is icos doing 50% bonus please whenever you come across such project be carefully  your money may lock for 10 years if only they continue with such project (look are erc20) for example no product but 2 token pumping the price although cmc may indicate 40$ in 24 hour in etherscan you may see 1.30$ thinking you rich lol many project likewise

[deadpool02]

You yourself can protect from scammers to quite an extent by keeping your private data, private key safely and doing prior research before investing in any project or any transaction.

[Kwansimaa]

Great piece of information partner...thank you for such information about project because this would really help us the new young ones in this forum from investing into any scam ICOs to save our funds and our time.

[heartwreck]

I just keep on signing for those ICO but i didnt invest on it Ive just waiting for it to drop on my wallet, thanks if it is real then better luck next time if it not.

[ir.yance]

how to avoid scammers by not easily believing in ICO projects. we cannot send bitcoin or ETH to invest in ICO projects without researching the project. we must be very careful in investing in ICO, we should often ask in their telegram group to get more information.

[sevenonetwo]

We can avoid fraud in this crypto currency very simply. We simply equip ourselves with the deep science and insight of crypto currency. We need to understand every business that we choose in this crypto currency, either ICO, bounty campaign, airdrop, coin, and so forth. Whatever we can extract from crypto currency then we should have done it so that we are not easily fooled by good promotions but actually are scams. We must be a wise and intelligent player so we do not choose wrong decision in crypto currency.

[mimiko]

keep it safe your private key dont open click link if you think there's a malicious content.. Scammer are the worst internet entrepreneurs night mare, so please be careful

[Raiwenkai]

I've started entering crypto in 2017, so far I did not encounter any scammer, I suggest that always be careful in any transactions.

[jake zyrus]

I was making a list for my team on how to stay away from Crypto scammers, and thought I would just share it here as well.

Here are the type of Crypto scammers that I have encountered

Type 1. ICO as a SCAM - (More info contributed by: tosindesign)
There are ICOs that are only designed to get your money. Once the ICO is over then the pages are taken off the net and the makers of the ICO disappear with the money. The last case we reported was LoopX, but this is not the only case.

How can you protect yourself?
1. (by: tosindesign) Generally there is no 100% protection here. A good indication for a scam is there is no team mentioned on the website or whitepaper. Although everything is very superficial and promised a lot, but after reading the white paper is not clear how that should be possible.
2. (by: GeckoTrader) One of the best things to do to avoid ICO scamming is to learn and back read all information about that ICO. As they always say " More knowledge is power"
3. (by: GeckoTrader) The team should have been communicating to the community.
4. (by: GeckoTrader) Always they should have an update from their company. If you sense something fishy do not hesitate to ask question from them. In that means you can confirm whether they are legit or just a bunch of scammers.

Type 2. Scammers who sell FAKE COINS (name / coin code is same but coin generating contract is different)
How to protect yourself: Check the contract address of these coins, if it came from the same contract address

Type 3. Social media scammers - Would post like "I will send you 50 ETH if you send me 5"
How to protect yourself: This is an easy one, they all are scammers. Dont even respond.

Type 4: Identity theft scammers - These guys will contact you as CEOs of ICOs or Social celebrities, usually banking upon the names of a famous person
How to protect yourself: Try pinging them from an another ID of theirs (say if scammer pinged you from Telegram, drop them a message over their facebook ID) and ask them to check that message. This would work as a Two-Factor-Authentication for that personality.

Type 5: Malicious code Trojans - Like Wordpress or Chrome plugins, that would use your machine to mine for crypto currencies, using your machine for the same
How to protect yourself: Try not to do plugins or replace them with cloud powered services, OR, Install only trusted plugins, with loads of reviews maybe. I wont be surprised if these trojans take shape of free downloadable games or cracked softwares downloadable for desktop or your mobile.

Type 6: Online Seed Generators (contributed by: tosindesign)
For some wallets (eg the IOTA Wallet) you have to set your own seed. In the case of IOTA, this is an 81-digit password that must consist of uppercase letters and at least one 9. Since some did not want to generate a password themselves, they resorted to online seed generators. These generate you by mouse click an 81-digit seed. However, as it turns out later, a few of these seed generators also stored the generated passwords, The stored seeds were then later used to steal the assets of the investors concerned. You have to know that the seed is something like the master key that allows all credits to be transferred. A thief does not even have to have access to your computer on which the wallet is installed. The seed is enough to access your balance on another computer.

How can you protect yourself?
Never use an online seed generator! When generating an 81-digit seed, all you have to do is push 81 random keys on your keyboard.

Type 7: Phishing website attempts (contributed by: tosindesign)
Scammers would copy exact replica of the websites (wallets, exchanges) and try to get you to login, thereby recording you password. For example, the page Blockchain.info was copied to get the logins. You have to know that Blockchain.info also offers a wallet service where Wallet could save your bitcoins. If Google users searched for “Blockchain info” in some countries, they ran a Google ad that led to Blockchaina.info, a cheat site that has nothing to do with Blockchain.info. The site was a 1: 1 copy of Blockchain.info and was only designed to get login information from users. There are also similar attempts to MyEtherwallet.com and other sites.

How can you protect yourself?
Never click anywhere on a link to a page where you want to log in. The best way is to bookmark the pages and just go over the web pages. In addition, you should always look for the SSL encryption. There will not be a page that stores important data from you and is located at http: //. All pages should now be encrypted SSL and have a https: // domain (although the pages can also be accessed at http: // they will redirect to https: //). The SSL certificates will also show you every browser, for example by a small lock symbol.


Type 9: Used Ledger Nano (contributed by: tosindesign)
At ebay and in other marketplaces there are always offers to buy the Ledger Nano a bit cheaper. This is particularly interesting now, where the Ledger Nano S is sold out and will be available again in one month. There have been cases in the past when users bought a used ledger on ebay and the seed from the ledger was already filled out. Anyone who has not owned a ledger to date will hardly register the difference. Of course, the previous owners have also noted the seed in these cases, which then allows them to get access to the crypto currencies that the new owner stores on the Ledger Nano S.  

How can you protect yourself?
If you want to use a hardware wallet like the Ledger Nano S, buy it directly from the manufacturer and make sure that it is still original packed. The enclosed note on which you can write down the seed should never be filled.

Type 10: Airdrops that ask for personal information (contributed by: StarKay)
There are hyped up airdrops that may ask for KYC information, that may end up being used by scammers / hackers.

How to protect yourself:
Think of your personal information as an investment as well. Research who you are giving your information to and why that ICO will need it

Type 11: Identity theft via Social Media - (contributed by: darkangel11)
You have to realize what they want from you. In the end it's always your money, while in the process they may want some personal data, a phone number, whatever they can get into.

How to protect yourself: Never willingly give anything. Don't share your real social media accounts with random people, keep your email addresses to yourself and if you have to use them make sure to have burner emails. What are burners? Not necessarily emails created for every forum and project. Just emails that don't contain your personal data and that you're not using for online shopping, banking and so on.

Please add more below, or share your story.

Its nice to see that people like you would share some information like this to help others. Thats the point , we need to have this kind of knowledge so we will be aware of everything especially on scammers which is common nowadays. Beginners must know this so that they are able to avoid scammers .

[adnandanish102]

There are many scam ICO schemes that pretend to be best to invest in it and ask us by giving good offers.Anybody even an experienced man is not sure that the ICO is real.It only declares truthful when the scheme is over.The best way to protect from ponzi schemes is to stay away from schemes that give too much good offers.

[DrGuns4Hands]

The best way to avoid scammers is to no invest your bitcoins. Just hold it in your wallet and hold it for a long time and when the price is right you can sell them and you will have a good profit.

Yes it is true, it is still better to hodl and wait for the price of bitcoin to go up. Indeed, we cannot avoid the scammers; however, we can control our investment and by doing so we wouldn`t be able to provide them money. Thus, strategic concept is focus on our dealings. Focus means be contented and based on what is the objectives of entering into investments. Moreover, this info is very helpful...

Further, investment in other cryptos have an advantages and disadvantages; thus, we would not discourage other investors because who knows there will be other cryptos that will help the community - by means of investment, trading, technology, and individual profitability. Further, it is still good to be diversify. All of us have common grounds and that is to earn more profits. Thus, it is really a risk if we fall on preys but crypto world is risky, a notion all of knew.

[Maheshkumar_Hrangkhawl]

There are many scam ICO schemes that pretend to be best to invest in it and ask us by giving good offers.Anybody even an experienced man is not sure that the ICO is real.It only declares truthful when the scheme is over.The best way to protect from ponzi schemes is to stay away from schemes that give too much good offers.

That is correct. Only at the time of listing it will be clear whether you will end up with a profit or not. I have seen a lot of very good ICOs failing at the time of listing. It is tragic, actually.