Common Cryptocurrency Scams and How to Avoid Them

[KrisAlex18]

Cryptocurrencies such as Bitcoin, Ether and hundreds more are a hot commodity in online trading, and it’s possible for a smart investor to make a big profit. But the prospect of quick riches can blind some people to the risks and enable crooks to lure them into scams.

If you receive message like this, do not entertain them:

*Someone you don’t know sends you a message out of the blue about a virtual currency investment opportunity.

- Do not believe to strangers, do not believe if he messages you out of nowhere and asking you to join some currency investment because most of the time scammers use investments websites to scam people, they will ask you to put some of your money and will promise to give you something in return then nothing happens.

*The pitch claims that a virtual currency investment involves no risk and surefire profits.

- Always remember that there is no legit investment websites that has no risk if you receive something like that, do not believe because that is scam for sure. Always remember that if you invest you should know that you are taking a risk and you should invest only you afford to lose.

4 Common Cryptocurrency Scams
1. Imposter websites - There are so many fake websites you can find through the internet, even though the website seems like an original website as what you are thinking and if you don't see any "http" on the URL, think twice, because an original website always has "http". Always double check the URL do not be contented on doing copy pasting, make double checking.

2. Fake Mobile Apps - One trick of the hackers and scammers is creating fake mobile apps, most of this are related to cryptocurrency, I'd been used a cryptocurrency application that I can earn money but the truth is not because they ask you to put first a specific amount of bitcoin before you proceed to the program of the application.

3. Bad Tweets and Other Social Media Updates - if you are following a famous person, you should make sure that it is his or her legit account because there are times that they will offer something and because of being fame people are tend to believe.

4. Scamming Emails - Even if it looks exactly like an email you received from a legitimate cryptocurrency company, take care before investing your digital currency. Always make reviews when trying some websites to assure yourself that you are visiting the real website.

For more information read this: https://www.kaspersky.com/resource-center/definitions/cryptocurrency-scams

[ampere]

This is a good highlight as regard crypto currency scam across the universe.
But there is always a single solution, do your own research.

If you see an exciting offer, promising huge $, dyor and check for official sources, that's the fastest eay to debunk scams.
Avoid freebies, and do not click any activation link on your email.

[Wexnident]

It's literally easy to see scams tbh. If the opposite party asks you to "give" them money and wait for a month to see the "returns" of your investment, that's already a red flag. Even indulging on the idea of "earning" money just by doing something like referrals is already a red flag for me imo. I avidly avoid such situations especially if the opposite party was someone I met over the internet. Also for impostor websites, you can try looking up the url links in simplywhois.com to test for information about the site. Really helpful in identifying those scam sites that were just made to scam others.

[maydna]

As long as you can always be careful while you use the internet, you can avoid the scammers because you know that not all information will be true, and you need to search for more details to know the real story. Sometimes the scammers and the hackers will try to send you email, text messages, or even they will call you to give an offer or warn you about something. If you didn't do it, you can skip or delete their email and don't even think to try to follow what they want because that will makes you get scam.

The list that you give is a trick from the scammers that are trying to scam you, but you don't have to worry with them because they will not succeed to trick you if you know how to avoid it.

[BitcoinsGreat]

We have to be extra careful when using out bitcoins on the internet. There are a lot of phishing sites and other method which are used to trap the newbies and even the experienced into their trap.
If someone asks you for an investment and promise for a lot of return, be careful not to trust anyone blindly.

[plvbob0070]

Since it's a common scam, and like easier to do than other scams, it's also easier to differentiate whether it's a scam or not. We're always on our phones, tablet, laptops, or PC, and we are always on the internet and it's nothing new. You can always encounter that kind of scam activities that's why it makes it easy for us to know that it's just a scam. But of course, not everyone is aware of that. That's why even though it's an obvious scam, they still get fooled by it.

We should really be cautious when using the internet because it can be so powerful that if you get scammed, it can affect the victim's whole life. Before getting swayed over a single email, post, or message, promising you with money, make sure first that it's a legit one. Btw, it's still good that you shared this OP for everyone's awareness.

[bL4nkcode]

Those kinds of scams fall under social engineering category and its the most commonly used whether it's cryptocurrency-related or not.

Yes, they are common and easy to find yet there are still lots of people get hacked. Why? They are too lazy to check and double-check the whats, how, wheres, and whys.

That's why it's really important to double or triple check before you hit the enter or the submit button.

[Review Master]

3. Bad Tweets and Other Social Media Updates - if you are following a famous person, you should make sure that it is his or her legit account because there are times that they will offer something and because of being fame people are tend to believe.

In these point, everyone always should not always listen to the famous people or influncers because sometime those influncers/famous people just promote many pump-dump coins for some money. So, everyone should cross-check everythings before believing/investing what was promoting by the influencers/famous people. Also there is an new ponzi scheme named Superone (SRX Token) which is running and promoted by some so called network marketers/youtubers. So all the cryptolovers don't join in that ponzi schemes. Always stay away from that type of ponzi scheme.

[Twentyonepaylots]

Just don't entertain any thing that is none of your business unless it is going mainstream, what do I mean by this? like scam emails, if you found out that there is email being sent to every one and they know it is a scam you should delete it right away to avoid any clicks/press on the link they have provided in attachment, don't you ever try to sleep it in your mail. I've been always pretty much wary of these things, scams and frauds, it is scattered every where in every field. What's in right now is identity cloning to get rid of your bank accounts, maybe because people are in panic right now and cannot keep up thinking if the texts are legit or not so they can easily be baited.

[ChiBitCTy]

One scam that's come my way of late is from data breaches.  They were blackmailing emails, saying that they've got me on video while browsing through "videos" that would be embarrassing for me if my all my contacts were to become aware of it.  They said they've got something like the last 186 days of recording, and that if I don't pay up in BITCOIN to a certain address within 24 hours, they would send out the videos to all contacts.  They go on to explain how to buy bitcoin if I don't already know.  First off, I keep covers over all my video cameras, so that would never be possible to be recorded, second of all, it would be obvious I know how to buy bitcoin if they had truly hacked me.  Just one more to watch out for and not be fooled by..

[meanwords]

In general, do not be greedy and always research about the credibility of the said project because I was scammed once from one of the listed above. That "Fake Mobile Apps" really hit me hard because that is how I met Bitcoin. They make you watch ads (a lot of them) and never pay even if you reached the threshold. That's how I learn about cryptocurrency and how not everything in it is legit.

By the way, those scams also happens in messaging apps like telegram and discord so I think you should add that.

[Little Mouse]

Would be better if you had posted it in the Help and Beginner's board.
Phishing websites are a very common method of scamming people. It has been a popular way. Anyway, you did not mention another most popular way, giveaway scam which is the most risky and effective scam method for newbie people in the crypto space.

[KrisAlex18]

This is a good highlight as regard crypto currency scam across the universe.
But there is always a single solution, do your own research.

Great said mate, we all should be familiar to all of the hackers and scammers online because there are so many ways for them to use just to hack some accounts at steal your money so always be careful when doing some stuffs online, be vigilant and be wise enough to know if the things are not going well, or the website you have visited is not that familiar.
Always make a research when trying some websites, there are always reviews for every website we can see online.

If you see an exciting offer, promising huge $, dyor and check for official sources, that's the fastest eay to debunk scams.
Avoid freebies, and do not click any activation link on your email.

Exciting offering is one of the ways of the scammers and hackers to pursuade you on trying slme websites, example of that is the investments websites, they will offer you a good return but as time goes by nothing happens.

[maxreish]

I remembered one particular local exchange (probably a fake group using that exchange's name)that I am using who got my profile pic on facebook and then posted it claiming I won something big in their giveaways. So much ideas that they are creating just to encourage everyone and make them belief in scam things.

Scammers always had a flowery words, offering high rewards, showing some fake incomes just to make others fall for it. Before deciding to join any of those suspicious activities, always have a second thought and find some feedbacks (whether good or bad) will be a good way to spot it's legitimacy.

[KrisAlex18]

It's literally easy to see scams tbh. If the opposite party asks you to "give" them money and wait for a month to see the "returns" of your investment, that's already a red flag. Even indulging on the idea of "earning" money just by doing something like referrals is already a red flag for me imo. I avidly avoid such situations especially if the opposite party was someone I met over the internet. Also for impostor websites, you can try looking up the url links in simplywhois.com to test for information about the site. Really helpful in identifying those scam sites that were just made to scam others.

Well, identifying wheter it is scam or not is really basic to those who already experienced about it or those people who have so many experience about crypto world, they are so hard to scam because they knoe much about crypto and they can say whether you are saying true or not.
But for those beginners out there who are new from this forum, they cannot easily say if the website is legit or not so this post can be guide for then to know about it.

We have to be extra careful when using out bitcoins on the internet. There are a lot of phishing sites and other method which are used to trap the newbies and even the experienced into their trap.
If someone asks you for an investment and promise for a lot of return, be careful not to trust anyone blindly.

Well said mate, beginners are really used in fake websites or some pishing acivitt of the hackers because they know that beginners are lack of knowledge. So always be careful when vising some other sites especially if it iss not secured.

[Eugenar]

Nice post, it would be really a great help for all the members in this forum especially for those beginners out there because as we all know hackers know that beginners are the easiest victim they can have because there are naive about crypto world.

 There are so many hacking and scamming happen online because of those bad people who always want to make money by an easy thing which is stealing it from others. They are so professional when doing it because they have learned it for so many years. So even those professionals can also be hacked especially if they face professional hackers.

[Serious475]

Nice post, it would be really a great help for all the members in this forum especially for those beginners out there because as we all know hackers know that beginners are the easiest victim they can have because there are naive about crypto world.

 There are so many hacking and scamming happen online because of those bad people who always want to make money by an easy thing which is stealing it from others. They are so professional when doing it because they have learned it for so many years. So even those professionals can also be hacked especially if they face professional hackers.

Yes, The post is very nice because it is helpful for the beginners in bitcoin and other cryptocurrencies. I hope that they will not be targeted by scammers because the cryptocurrency is havung a bad reputation because of scammers and hackers and I think tbat is the reason why other people dont want to use cryptocurrencies.

[The Cryptovator]

Scams and greed are related each other. Most advantage for scammer is irreversible behaviour, that's why scammers could skip very easily. Often I have been seeing on some social media that scammers still promote some hyip or bitcoin doubling program. Every new days scammers finding out new technology to scam us. Once a time ICO scams was most common way to scam innocent investors but seems it's time to overcome from this issue. We might avoid most of scam just by increase our knowledge about crypto currency and don't be greedy. Most of accusation we have seen they fall into scam due to greed behavior. So we must need increase awareness about scammers.

[chip1994]

These are four ways hackers can access your computer and steal your information and money. But to avoid all the other tricks, we should be aware of making money. Making money quickly and much will not be a right idea because money is never easy to earn. The guys who make hot offers to you are usually scammers and be careful of hot invitations. Make money with bounty and airdrop, which will be a low income but stable and safe.  And of course, you still have to select the projects to get them paid, there are still many scam projects in Bounty.

[KrisAlex18]

As long as you can always be careful while you use the internet, you can avoid the scammers because you know that not all information will be true, and you need to search for more details to know the real story. Sometimes the scammers and the hackers will try to send you email, text messages, or even they will call you to give an offer or warn you about something. If you didn't do it, you can skip or delete their email and don't even think to try to follow what they want because that will makes you get scam.

Great said, so always be careful when doing some things online because if you did not you may be scammed by scammers, there are instances that because of the greediness of the people they tend to visit some sites, or they tend to do some other things withouth thinking the consequence, they don't realize that they have visited a fake websites but he already have his information and the hackers and scammers can use yoyr information for some purposes.

The list that you give is a trick from the scammers that are trying to scam you, but you don't have to worry with them because they will not succeed to trick you if you know how to avoid it.

The information that you are going to give to strangers can be the way for them to access some of your accounts and maybe they can do it as an identity theft so always be careful.