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Author Topic: Reminder - High Bitcoin price = Higher than normal scam & hack activities!  (Read 257 times)
Lordhermes
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December 03, 2020, 06:14:54 AM
 #21

Can we just do a survey on the rate of scams and hacks that happened between 2017 and 2020 as the year bitcoin price shows bullish behaviour, so we confirm how true your topic is because news on scam and hacks happened every year and every moments.
In addition to what op has laid out, I think not only high movement of price but also new fund raising system by new upcoming projects, this also determine the rate of scams and hacks happening in the cryptocurrency space giving them the opportunity to scam new inexperience investors.
AniviaBtc
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December 03, 2020, 08:22:06 AM
 #22

This is really expected when bitcoin is striving a higher price in the market.

Scammers are unstoppable but preventable so you should be accountable about your assets so that you will have no losses when they attack you.

Always keep in mind that when we are celebrating about the bitcoin price reaching ATH, there's always a scam surrounding as when we access our social media, and other platforms. Being mindful is necessary and don't you ever become careless because it can make you lose a huge amount when you fall into their schemes.

Try to read in Scam Accusations thread.

Walterhank
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December 16, 2020, 06:24:02 AM
 #23

You do have a point and this information is quite useful. As a matter of fact, I saw a report which predicted that crypto scams will significantly increase in the following year.
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December 16, 2020, 08:35:33 AM
 #24

-snip-
3. Update your Anti-virus and security software for more protection.
-snip-
updating the installed antivirus is absolutely necessary, because the devices we use are always connected to the internet and device security must be up to date. I even use 2 kinds of antivirus to protect the computer that I use.
The first antivirus uses Windows Defender built in from Windows 10 and the second antivirus uses Kaspersky.

-snip-
I know you can recover wallet on mobile or computer/ laptop with seeds/ private key but laptop or computer can give you better safety.
Laptops or computers also don't necessarily provide the best security. It all depends on the user how they secure their own device. Cellphones or computers have the same risk of being hacked and infected by malware.
The initial security that must be done is to use a premium antivirus that has been recommended. Do not carelessly install unknown applications.

Hardware Wallet is the safest wallet for now because security will be separate from a cellphone or computer device. Hardware wallets have their own security.

cryptomaniac_xxx
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December 16, 2020, 08:46:10 AM
 #25

Can we just do a survey on the rate of scams and hacks that happened between 2017 and 2020 as the year bitcoin price shows bullish behaviour, so we confirm how true your topic is because news on scam and hacks happened every year and every moments.
In addition to what op has laid out, I think not only high movement of price but also new fund raising system by new upcoming projects, this also determine the rate of scams and hacks happening in the cryptocurrency space giving them the opportunity to scam new inexperience investors.
I think we don't need to have a survey though, and I would say that today's bullishness is ample enough for scammers to up their game and create a simple to elaborate to trick newbies into giving them there hard earn money. 2017 was pure scams based on exit scam projects, while 2020, Defi hacks and many fake and phishing sites, from Elon Musk to Vitalik Buterin's face, to Youtube scams.
arwin100
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December 16, 2020, 08:51:50 AM
 #26

Can we just do a survey on the rate of scams and hacks that happened between 2017 and 2020 as the year bitcoin price shows bullish behaviour, so we confirm how true your topic is because news on scam and hacks happened every year and every moments.
In addition to what op has laid out, I think not only high movement of price but also new fund raising system by new upcoming projects, this also determine the rate of scams and hacks happening in the cryptocurrency space giving them the opportunity to scam new inexperience investors.
I think we don't need to have a survey though, and I would say that today's bullishness is ample enough for scammers to up their game and create a simple to elaborate to trick newbies into giving them there hard earn money. 2017 was pure scams based on exit scam projects, while 2020, Defi hacks and many fake and phishing sites, from Elon Musk to Vitalik Buterin's face, to Youtube scams.
Survey can help newbies to determine the severity of scams happened from 2017 until today but this need a lot of research since there are so many of those event needed to be listed so that no information will be missed, this will eat a lot of time and effort so I think if someone will create a surveys but I think the informations from ICO scams to DEFI and other things you mentioned are just here.

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December 16, 2020, 03:58:34 PM
 #27

~snip~
~ High prices attract "new" inexperienced traders/investors (speculators) to Crypto currencies and they are easy targets.
~snip~
New investors who are not experienced in crypto will find it easy to enter because the price of crypto continues to soar up. Like the current bitcoin price, which will reach a new ATH, it makes beginner investors trade with the hope of getting a big profit when the price goes up and continues to rise. They are easily trapped by the FOMO that is happening. Make purchases at high prices without thinking about the risks that will occur next.
Mike Mayor
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December 16, 2020, 07:24:34 PM
 #28

Definitely. Scammers need to stock up for Christmas don't you know. Whenever things are moving at a high speed you will find scammers. They use the highspeed to pressure you to make fast silly decisions.
The fact that bitcoin is booming only adds to the chaos and excitement. They feed off of this excitement and abuse it.

I guess the same is with hackers. Everyone only wakes up now that bitcoin is mooning and they all want a piece of the pie "before its too late"

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