Crypto scams revealed

[witcher_sense]

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None of these things are a flaw in hardware wallets. If you type your seed in to a random website, then you are going to lose your coins regardless of what wallet you are using. Good hardware wallets such as Ledger devices have some of the highest resistance to physical attacks of any wallet. Hardware wallets are also great to use with a couple of different passphrases, which provides the best possible protection against a $5 wrench attack.

It isn't actually matter of wallet. That is just an example. The main thing is if you're using a secure, reliable system such as hardware wallet or any other decent wallet in an unsecure way, you will lose everything. Hardware wallet is not panacea, it still require proper using.

While I agree with you that passphrase+seed phrase combination strengthens security in case of hacker's attack, I can't agree this method is able to protect from any wrench attacks. I have a hunch, the size of the wrench will be a more important factor than the size of the secret password.

[o_e_l_e_o]

Hardware wallet is not panacea, it still require proper using.

Absolutely, but the same can be said of any wallet or any security set up. This is no way to store your bitcoin which is entirely immune to user error or stupidity.

While I agree with you that passphrase+seed phrase combination strengthens security in case of hacker's attack, I can't agree this method is able to protect from any wrench attacks.

It is more or less the only method that can offer at least some protection from a $5 wrench attack. Any wallet protected by login details, a password, PIN, finger print, etc., any seed which has been hidden or split in to multiple parts, any seed which has been encrypted, and so on, all have a single piece of information required to access them - the password, the location, the encryption key, etc. Only by using a passphrase (and keeping the addresses behind it secret) can you have any form of plausible deniability. An attacker who finds your wallet can $5 wrench you until you reveal the password/PIN, but has no way of knowing that you have more coins hidden behind an additional passphrase.

[Charles-Tim]

A quality report on scams been paraded on the crypto ecosystem. it is quite clear that some users here has no intention to make the platform a valuable place rather for their own intention. the post made here is for users that are interested in learning how the cryptocurrency platform works. people should avoid gambling sites that involves crypto. it is the new scam in crypto.

Irrespective of the where the scammers are from, if you have a clear knowledge about scam, you will not be scammed. Follow the rules above and do not trust anybody but you alone.

[war78]

Here i nowadays phishing emails are becoming more dangerous and need to wake up for all of us. Always be careful and do not open unknown mail to avoid any inconvenience.

[MrcMrc]

There are still many ways to scam but all are included here on this thread, nice one. The very one I was scammed with was when I bought a shit coin that made me lose 90% of the initial capital. This type of shit coins are common on exchanges that are not well regulated.

[demonica]

6. Avoiding too real to be true offers
There are some offers that are very attractive, before you accept any offer, be patient and make thorough investigation about it. Like I said above that cloud mining are now mostly scam but there are still legit ones but not really profitable. If you make your research about cloud mining then you will noticed this and use it to judge if an offer is a scam or not.

Offers can be deceiving, it's the type of scam that take advantage of a person's greed. It lure people with offers that seems impossible like earning huge money without so much effort. So if you tend to believe on easy money, then there's a chance that you will get tricked by it. Thus, people should do further research to check if it's a real special offer and confirm that it's not a fraud. People are obliged to research for their own sake to be alert of scam because scammers used different methods to attract attention.

[Onuohakk]

A quality report on scams been paraded on the crypto ecosystem. it is quite clear that some users here has no intention to make the platform a valuable place rather for their own intention. the post made here is for users that are interested in learning how the cryptocurrency platform works. people should avoid gambling sites that involves crypto. it is the new scam in crypto.

Irrespective of the where the scammers are from, if you have a clear knowledge about scam, you will not be scammed. Follow the rules above and do not trust anybody but you alone.

Gone are the days when people get scammed easily. Nowadays, people are now wise in investing in any given project. In as much you don't have greed within you, to invest more than what you bargained for, even though you get scammed finally, you won't get hurting that much

[greylandm]

Used to buy many shitcoins from scam ICOs back in past. Never returned me a penny :<

[Charles-Tim]

Please refer to this topic https://bitcointalk.org/index.php?topic=5264627.0
In summary, he was scammed twice. First was when he sent bitcoins to a ponzi scheme and second was when he paid a bitcoin recovery scam service in an attempt to get back his bitcoins from the ponzi.

The story may sound ridiculous but it happens to many beginners. Some newbies still fall for different types of scams like fake giveaways and bitcoin doublers. Another example is the recent hack on twitter, the scammers used the accounts of famous people to fool followers. If not for Coinbase, 1,000 more users would have fallen victim. They stopped the $280,000 worth of btc transactions from being deposited into the scammer's account.

Coinbase says it prevented just over 1,000 customers from sending around $280,000 worth of bitcoin during last Wednesday’s attack. Roughly 14 Coinbase users sent around $3,000 worth of bitcoin to the scam’s bitcoin address before the company moved to blacklist it, the company said.

- https://www.theverge.com/2020/7/20/21331499/coinbase-twitter-hack-elon-musk-bill-gates-joe-biden-bitcoin-scam

If you or someone else you know fell victim to these scams, please be informed that the btc sent to scammers are most likely unrecoverable. If you ever encounter a site that says they'll get it back for you at a fee, do not fall for it because they are also scams. Bitcoin transactions cannot be reversed and the only possible way I know to recover the funds is if the scammer themselves are careless in sending btc to centralized exchanges or services without obfuscating the transaction.

This has been a scam, truly another type of scam I have to include to the list. If a person for being novice is scammed and scammed again through these recovery services, it will not make any sense and it is considered double losses.
 

[dondonk]

I often see point number 9. projects with a good coin value are very tempting, especially for beginners to invest. need knowledge to be able to distinguish which projects are P&D and actual projects.

[GeorgeJohn]

Scamming is everywhere, people fall into victim's of scamming due to lack of information and over consciousness in order to get what they want,
We need to be careful because know one knows who is actually a scammer.
Scamming has caused lack of trust in different societies,
We have to know the possible way to eradicate scamming in the societies because people are giving up their life because of shocks based on scamming.

[Kong Hey Pakboy]

Scamming is everywhere, people fall into victim's of scamming due to lack of information and over consciousness in order to get what they want,
We need to be careful because know one knows who is actually a scammer.
Scamming has caused lack of trust in different societies,
We have to know the possible way to eradicate scamming in the societies because people are giving up their life because of shocks based on scamming.

Lack of information or idea are also the main reason they fall into this scam activities. But the real reason why they get scammed is their greed that, even they know it is too good to be true and they still fall for it. It is why we should learn how to control ourselves without being aggressive when it comes to earning money because there is no such thing is easy money that we should work hard just to earn money.

[Assface16678]

This is a good introduction to the newbies because right now still there are some people who are getting victims with these untrusted platforms and one of the best things is to enlighten them what are the definitions and what are the possible attempts do by the scammers also one of the misconceptions. This kind of information is very informative it gives an additional knowledge to the lower ranks instead to the higher ranks sometimes we think we already know a lot of things but this is just a piece of wrong information also we want to have a piece of good knowledge still some of the mistakes is coming from getting greedy of the person to make more additional earning, in my opinion, this is not bad to become greedy but the bad side is you will risk a more higher chance of earning and losing.

We can experience different scams so this is not limited right here also it's better to add some information that came from the different members it's good to make a compilation right here.

Scamming is everywhere, people fall into victim's of scamming due to lack of information and over consciousness in order to get what they want,
We need to be careful because know one knows who is actually a scammer.
Scamming has caused lack of trust in different societies,
We have to know the possible way to eradicate scamming in the societies because people are giving up their life because of shocks based on scamming.

Even we are trying to aware those people if their ego wants to make more earning we cannot stop them to do those things still we don't need to regret if they got scam because at the end of the day we gave that knowledge and information do they need to prevent losing their funds but still keep spreading the scam platforms.

[CryptopreneurBrainboss]

***

Not just those although they're mostly the main reasons people get scammed. We also have other reason like, lack of determination or focus on their goals. The industry is full of distractions, and if you're not focused you might end up lossing all your invested capital talk less of gaining anything. There's only one project worth giving all your attention 100% and that's bitcoin. Not saying other projects can't give you profits but you shouldn't go chasing after them to make easy money as it'll most likely end up badly.

Informative can be easily access this days and you been on the forum is an extra advantage as if you keep your foot down you'll likely get all you need here, from advice to warning on likely scams to avoid.

[womanwrappa]

Scamming is everywhere, people fall into victim's of scamming due to lack of information and over consciousness in order to get what they want,
We need to be careful because know one knows who is actually a scammer.
Scamming has caused lack of trust in different societies,
We have to know the possible way to eradicate scamming in the societies because people are giving up their life because of shocks based on scamming.

Integrating anti scam will help reduce scammers from the whole environment.