Hello everybody,
because I have read it here more often, I thought that a thread on the subject would not be a wrong idea.
Cryptocurrency scams are becoming harder to detect. Here are a few things to watch out for
Disclaimer:The scams listed here are not exhaustive, are merely examples, and are intended to give an idea of the ways in which scammers attempt to gain value.
As cryptocurrencies such as Bitcoin and Ethereum are gaining in popularity, the number of scams and scams in this area is also increasing. However, there are also some things that you can (and should) pay attention to when dealing with the subject and where money and/or personal information is in any way at stake.
Overview:
Part 1 - Websites
Part 2 - Twitter
Part 3 - Airdrops
Part 4 - Signal Groups (Pump & Dump)
Part 5 - Scam MailsBefore you go,
the most important tip is
the Golden Rule:
NEVER reveal your private keys, NEVER - for any reason, no matter how tempting!
In addition, greed is one of your biggest enemies. If you are greedy and take too little care of yourself, you can lose everything. So be careful!
Part 1 - WebsitesSituation / Danger:
A now popular scam is the cloning of a well-known website to get the unsuspecting user to enter their data and steal it.
Usually you can tell by the presence of the green "https" in front of the URL if a website is legitimate.https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2F3EKZzpt.png&t=588&c=JycNRYO5CG5NAwIf you are attentive, you can easily see that the next page is not a legitimate site or a legitimate entity because it does not have the proper certification to be trusted.
So you always have to look for a green "Safe" or "Secure" and "https" in front of the URL address of the website. This is a sign that the website and the company have received the proper Secure Sockets Layer (SSL) certificates. Obtaining an SSL certificate indicates that the company can be trusted behind the page.
Coinsmarkets.com has neither the green
"Secure" nor
"https" in front of its URL. Instead, it has a gray "Not Secure" and a regular "http" in front of the URL.
As a rule, scam pages are quickly detected and removed. If you are now trying coinsmarkets.com (please do not wink) you will get an error message.
However, some scam sites have found a way to display the green "secure" and "https" in the website URL, and then make an incredibly subtle change to the URL.
At first glance, URL for the popular cryptocurrency exchange Binance seems legitimate. You can clearly see the green "https" in front of the website URL and also the name seems to be correct.
In the rarest cases, it is understandable how a site received an SSL certificate that allows them to display the green "https" in front of the URL. This also applies to scammer pages. At the same time, getting an SSL certificate from a less trusted certificate issuer is pretty easy.
If you take a closer look at the second picture, you will see small dots under the letters "n" in the word "binance".
The two dots under the Binance URL show that this is not the real Binance page. Instead, it's a very well-made clone of the page, whose sole purpose is to tap user data that unsuspecting users enter there. Even an activated 2FA authentication does not protect you, since a scammer can enter this data immediately after you have entered it on the real Binance page, where it will still be valid. Thus, he has access to the account from then on.
Especially perfidious are those pages that show an error message after the first log in, saying: "The service can not be reached temporarily, please try again in 10 minutes." In this way, the user does not even suspect that he has just revealed his data and a scammer uses it to gain access to the user's account.
If the user then tries to log back in 10 minutes later, he gives the scammer a 2. 2FA code, which he may use to initiate a transaction or even disable 2FA.
Even if you are attentive, such a site can be difficult to spot because everything seems familiar at first glance.The example shown here is called PunyCode, which is used to create certain special characters (here the dot under the letter "n")
In another example, we linked to Bittrex and used the cedilla under the "r" (looks like a comma). Cedillas are widely used in languages such as French and Portuguese.
Part 2 - TwitterSituation / Danger:
Another popular method is to fake known accounts on Twitter and, under cover of a giveaway or airdrop, encourage people to send money or crypto.
Here you can see very well that in the
red box (Scam) the Twitter name is "binance", but the handle is "@ banance_2017" and not like in the
green box "@ binance_2017". Here, a giveaway of Binance is faked and the link to an ether address is given to which ETH is to be sent to participate in the giveaway. In the
orange box you can see that the post office has been split and licked very often, which should give the whole thing credibility, as are the fake confirmations in the blue boxes. These were also placed by the scammers. The high number of shares & likes is most likely due to the use of bots.
Another scam are fake accounts, which get the "verified" from Twitter including the blue hook next to the name, which - if you are not hellish beware - can lead you astray very quickly. Here's an example:
It can be seen that the TRON project's real account (right) has a blue check mark next to its name. The handle is "@Tronfoundation". On the left, however, is the fake account, which also has a blue hook next to the name, but a slightly different handle "@Tronfoundationl".
The confusing thing: The fake account has the completely identical description, location and a similar follower number AND he is even older, which means that you theoretically even keep the original account for the fake account, since this is only a few months old.
So, if you look at the following tweet, there is not much to say against it that you can consider it authentic:
Tips:- Just make it a policy to
NEVER join a giveaway where you have to invest money first.
-
NEVER enter your private key somewhere and do not upload it (eg JSON file).
- Followed the most important Twitter accounts you use regularly
- If you see a message that interests you, go to the Twitter feed of the account and look there to see if the message really comes from the real account.
Part 3 - AirdropsSituation / Danger:
Airdrops are now performed in various ways. Therefore, it is also difficult to show all possible scam combinations. What most Airdrop scams have come to grips with is that they somehow try to get hold of your private keys - either on a website or in a (Google) form.
Prominent example is the Fake-OmiseGo Airdrop:
In the screenshot above it is easy to see that in each case the third field asks for your private key. The following sentences are particularly perfidious: "Note: It is safe We will never collect or store your personal information (such as your private key) This form is fully encrypted ...". In addition, this is an unnecessary complexity suggests, while the scammers have it only on your private key apart.
The links to such sites are distributed via Twitter & Facebook but also via telegram and other channels such as Slack or Discord. Often an urgency is also suggested (for example "only the first 1,000 participants), so that the alleged victims become careless.
Tips:-
NEVER give your private key! (you can not repeat it often enough)
-If you want to join in an Airdrop, first check the project! Do not use a direct link from the same source. Looking for a homepage and a bounty thread here in Bitcointalk
-If you do not find anything, it is most likely a scam
-Use your common sense, because here too in the forum there are questionable projects and practices.
Part 4 - Signal Groups (Pump & Dump)Situation / Danger:
Undertow. Signal Groups and Pump & Dump Groups are a great danger, especially for newcomers, as they suggest quick profits and often present them credibly.
Tips:-Avoid short term pumps & dumps, without extensive research and experience it is pure gambling and losses are almost guaranteed.
-Never spend money to get into "closed groups" or receive so-called paid signals. You usually come in the paid outer circle >> 75% loss!
-Watch out for supposed "insider tips" that are being dropped. These are almost always coins that are in the pumping phase. If you get in here, you're the one who's dumped on.
Part 5 - Scam MailsSituation / Danger:
Phishing and Scam emails have been known for years and are actually nothing new. Due to the often prevailing intransparency in Crypto and the unawareness / insecurity of many, it is still worth mentioning. In addition, scam websites (see above) may irreversibly compromise accounts / wallets and therefore pose a particular danger. Especially in combination with Airdrops and the often difficult-to-understand coin-token distribution practices, the danger of scam / phishing emails is omnipresent.
On the left a "classic" phishing mail, on the right a scam mail that applies for a nonexistent Airdrop:
There is not much to say about scam emails. They work on the same principle as previous phishing emails and try to convince you credibly that they are authentic. This is unfortunately favored by the fact that many projects are relatively unprofessional and therefore supposedly scam mails actually come sometimes from the actual project. As a result, laypersons (and even experienced users) often find it difficult to spot the difference directly.
Tips:-Create at least 1 new e-mail address for Crypto. Be selective on whom you give this address.
-Never respond to mails that have not requested yours. Especially not if you have not given the project / sender your e-mail address.
-Do not click on links in emails! Should you do it, use a e.g. sandbox
-If you are unsure about a mail, verify the information (not by clicking in the mail!), Eg. Search the project's Twitter, Telegram, or other social media channels.
