Cryptocurrency fraud and scams

[Youghoor]

Trust me some of them have actually gone pass just airdrops and giveaways these days. I remember one project that hit this industry last year. I mean everybody was looking forward to the success of this project, it had a working product with real world companies and yet still exited as a scam in the long run. This project was called MiracleTele.

We just need to make sure beyond any tinge of doubt that a project is a good one and that can only be done if you do a good research about it. don't fall for quick gain route, they are likely to lead you to a huge loss.

[XCANA]

You can lose both cash and money on the card, scammers are everywhere.

You're correct fellas, there are many scammers out there to scam gullible in investors of their money. In the beginning was the scammers and these scammers where prepared to scam people out of their funds inrespective of their status or genders. The problem we have these days is: lack of interest to read published articles from those who have experienced the same. Many investors are too dump that they cannot research into a project they intended invest in because of self lack of reading. Reading culture should be imbibe into our general  life to be able withstand these scammers.

[taufik123]

The lack of interest in reading and analyzing projects to be followed is indeed the reason that new investors are easily trapped by fraudulent projects. Even though there has been a special thread that specifically discusses projects for scammers and fraud.
Nowadays, fraudulent projects are scattered that harm many people, education about how to find out about fraud projects and how to avoid them is very much needed.
if needed and if you can be able to do your own research about the project you want to follow, there are many ways that can be done and can read it in this forum.

Scam Accusations
- https://bitcointalk.org/index.php?board=83.0

[fiulpro]

Frauds and scams are not just in cryptocurrencies but in every sector of the society , even Fiat and cards call people Everytime and it gets Preety bad.
You know there are full companies , who are registered , what they actually do is scam people over the mobile for the whole day , this is more prominent in the developing nations because people there are trying to figure out a way to get out the bad Economy .
Cryptocurrencies are no different , since there is no centralized body and the bad marketing like *it will make you rich in no time * people don't understand that *you should be careful with the things that are too good to be true*

[jumail]

Fraudsters always try to do everything, make fake projects with all kinds of manipulations. New investors, or people who don't care about the ecosystem, and are only profit-oriented, will definitely ignore the analysis, even though it's one of the things that must be done before deciding to invest. Lack of understanding of risks like this, lack of awareness, lack of willingness to read and explore the project will make the risk of loss even greater.

[MCobian]

We must admit that cryptocurrency is a lot of fraud and scams, and therefore it is very important to prevent this from happening happened
to us. The first thing we have to do is choose the projects or coins we will follow by analyzing carefully. In order to avoid scammers, because
if you investigate correctly you can certainly choose real projects. In my opinion, scammers are very clever in deceiving their victims, so be
more careful in choosing cryptocurrency projects is very important.

[camito]

how they happen and how you need to pay attention to safeguard yourself against them.
The Computer Science saw a different phase when cryptography mechanism was introduced with Bitcoin. With this big of a change, threats of fraud increased, to safeguard from these malicious activity is extremely important. Startups without blockchain should not be trusted at all. Before committing to any company, their credentials should be reviewed.
There are many fake ICOs that can scam people easily. The best way is to do research before being affiliated to that exchange. Another way is to send an email and ask about the exchange to be cautious. Phishing is another way to scam people, by asking their details and asking them to invest their Bitcoin or any other cryptocurrency. Fake Airdrops and Punycode are most common tricks.
There are many unregulated brokers that can lure clients in lower prices and trading products and fast returns. So, one needs to be vigilant. The automated trading systems are not scams but  they will take any opportunity to earn profits. Exchanges will charge an unfair amount to withdraw, the best way to avoid is to already be aware of exchanges price differences.
Fake emails look so authentic but at the end they are still fake. Check every bit of information before acting upon it. Many companies copy and paste some other company’s whitepaper, rather than having an original idea of their own.
Most exchanges use fake information for their team members. To be careful one must look for incomplete or inconsistent information and odd details.Inconsistent texts or details on any part of the website is also a red flag. One should read and proofread to be sure.
People should run scans to look for any Bitcoin miner or bot in the system. Companies will do anything for money, to ensure safety and security right websites should be used. There is a lot of responsibility one needs to practice in order to be careful.

Everyone should exercise caution be it a newbie or a senior. Everyone can be a victim of cybercrime and it can happen anytime and anywhere. In dealing with the world of crypto, one should always be vigilant and careful as well as admit themselves to protection because you'll never know when your investments or assets could be turned to stone.

[Baby Dragon]

Fraudsters always try to do everything, make fake projects with all kinds of manipulations. New investors, or people who don't care about the ecosystem, and are only profit-oriented, will definitely ignore the analysis, even though it's one of the things that must be done before deciding to invest. Lack of understanding of risks like this, lack of awareness, lack of willingness to read and explore the project will make the risk of loss even greater.

Fraudsters uses different approaches trick people such as novices who doesn't have enough knowledge on how they can keep their funds safe and secured. It is the reason why people should make time and effort learning various information because fraudsters can easily find a new way when someone has busted their system. We should be aware, so we know the things that we have to consider before making any decisions that may affect our funds, such as investing in new projects. We have to ensure that the project isn't a scam by making a background research.

[btc78]

Thanks for the advice but we have read those a thousand times and actually only few members here are trying to invest in ICO and altcoins.
Instead majority of people inside crypto market are into Bitcoin and that is how they are being safer.

Despite amoung us being aware of the "send xx amount, receive xx profit", there are still a lot of newbies that's being scammed by this scheme. They really don't research about it or even think of it how the hell they'll earn real money that quickly.

@OP, I think your thread is good but you just have to provide spacing to emphasis those important points.

And not only Newbies  but those greed people that is being brainwashed to invest in high profiting project but in the end will be scammers and the line goes on and on.

[maydna]

Fraud and scam will always happen, not just in cryptocurrency, but it will happen in the other industry. The scammers will do anything to trick their target until they can get their money, and that is our job to be careful and always search for more information about the offers. If we cannot find more about the news, then we don't have to do anything because if we follow the news, we will lose the money we have.

We know that many ICO has been scam their investor, and they are running with the investor's money. People cannot do anything except regret what they did before. So we need to be careful before we do something, and make sure we can check the project before we participate as the investor or participants.

[pankaj1234]

There are too many scams in Cryptocurrencies. Raised fund with ico and then good bye. It is very difficult to know who is right and who is wrong these days.so investing in ico is just is very risky. We know that many ICO has been scam their investor, and they are running with the investor's money. These days not only Cryptocurrencies but all fields are full of scam.
In last I want to say be prepared for everything and use your mind every time when you putting your money on anything.

[metenjean]

Scammer and hype project investment name with bitcoin make cryptocurrency fraud and bad on many people, some one not interested with bitcoin and altcoin investment after getting with bad project get payment using bitcoin and scam many investor, but in fact bitcoin keep trusted payment just fraud by scammer.

[Leonardo7]

Fraud is not only limited to the advent of blockchain, but online scammers also use more of the traditional system to steal. We have just a small fraction of persons carrying out fraud in cryptocurrency as compared to card fraud and Ponzi schemes using fiat. However, anyone who follows the basic blockchain rules will be wiser than an average investor.

[Pronzegirl]

I completely agree with you. Of course, we must conduct our research before using the exchange in order to prevent any fraud or fraud, as many of these systems weave ropes to prey and most of them often start.
  Solicitation with false promises in order to increase profits in a fast way that causes us to question its credibility, because caution must be taken, caution must be exercised in coding, especially exchange, and thus we believe ourselves against fraud and fraud.

[Ailurophile]

You can lose both cash and money on the card, scammers are everywhere.

I completely agree with OP and you,
So in order to avoid being scammed we need to do some research and be cautious not just in crypto but also in real life.
Both online and offline aren't safe to fraud and scams and it is true scammers are everywhere not just on cryptocurrency.
Before the creation of crypto currency scams and fraud are already around us so we couldn't really say that it is because of crypto or the internet.

[lepbagong]

with technological advances that occur are many who misuse the technology to seek profits for a moment in order to generate profits. many ways are now circulating from the bonus given when investing which sometimes makes no sense, but instead many are deceived because they do not want to do the analysis first. have not been asked to send some eth by exchanging with their tokens, even though it has not been proven that the tokens that are exchanged can later have a stock market. most often telegram transactions that are very intense leads to fraud.
Fraud seems inevitable if there is no cooperation from all to break this link. should have the authority to immediately close before developing more.

[CarnagexD]

You can lose both cash and money on the card, scammers are everywhere.

I completely agree with OP and you,
So in order to avoid being scammed we need to do some research and be cautious not just in crypto but also in real life.
Both online and offline aren't safe to fraud and scams and it is true scammers are everywhere not just on cryptocurrency.
Before the creation of crypto currency scams and fraud are already around us so we couldn't really say that it is because of crypto or the internet.

Today there are still a lot of scams happened in the world of cryptocurrency because most of the time it does not require kyc for the transferring of funds so it cannot make easier to trace out the recipient of the transaction. Still, one of the good things we need to do is make a lot of research about they introduce next is if you don't want to make any communication to strangers it is better if you block them immediately because they will really push you to do something and getting pressure easily. Still, it depends on you if you will entertain them and just get more information and waste their time to pretending you are doing the things they told or just block them immediately.

[btc78]

Actually, what is the message of this topic? Exercise caution? I think that in this forum people know exactly what to do in order to protect themselves.

Nope that's wrong because even in our days now when there are so many precautions and advises still Members are becoming victims by this scammers and sometimes even OLD timers are one or the victim also.

Never forget that Scammers are mostly much looking legit than original so don't underestimate their capacity thats why we need more of this kind to remind people each time about the incoming scams or hacks they may face.

[qory]

Some time I agree for saying bitcoin and cryptocurrency fraud and scam because I lost much money in bitcoin and altcoin investment, but some time I believe with bitcoin and altcoin when I got much profit during my trading get up with higher price.

[George3]

A friend told me she was into this online investing platform which turned out to be coin-bits and that it was going very well for her and she was making returns from it and I thought I could try it out as well. Turns out we were both caught up in a web of deceit, they gave us only a little percentage of our investment the first month of investing and demanded that we invested more to generate higher returns and improve our withdrawing power which we did because it seemed legit as a result of the first month payout we received. It was all down-hill from that point onwards, they made us invest more for a couple of months and at some point we had to put together funds to link our portfolios so we can make a one-time withdrawal but we were never given a chance at withdrawal.

My search for recovery brought me to stumble on an article on SEC that read thus;

“Not all harmed investors will be able to recover money, and many of those who recover money receive less, often substantially less, than their losses from the securities fraud”. They wrote In addition, that “even when harmed investors are able to recover money, the process for distributing the money to harmed investors may take a long time” and this was even more discouraging. But right under the article was a review that countered this approach and made several reassuring statements about FASTFUNDSRECOVERY.WORDPRESS.COM and their ability to do better than most.

When I made contact, they came up with a tailor-made solution where they focused on my specific circumstance before working out the best and most cost-effective way of helping me achieve my aims. My friend Laura followed suite immediately and she too was able to access all her funds sitting idle in a wallet.

The Crypto investment industry is gripped with scammers, starting with the brokers and ending with individual traders. In other words, as a trader, you’re on your own. There is little trust in the industry and if you still want to be involved, you must do the job, filtering the information in front of view.