Why Technical Knowledge Alone Does Not Protect People From Scams.

[JiiBs]

Scamming technique keeps advancing and for technical knowledge to remain relevant ahead of this scamming tactics consistent knowledge acquisition is required.

Technical knowledge isn’t some pro tip against scammers. It’s not the scammers blue print and these schemes keeps advancing every day. The more they are exposed, the more they find another way to reintroduce it to you. Mind you, people can’t have the same level of awareness about this, there would always be some victim out there and even someone with a lot of technical knowledge would always have a soft spot. Should some one someday be able to access that soft spot, you’ll become vulnerable and that’s how people get scammed.

[Johnlomape]

Scamming technique keeps advancing and for technical knowledge to remain relevant ahead of this scamming tactics consistent knowledge acquisition is required.

Technical knowledge isn’t some pro tip against scammers. It’s not the scammers blue print and these schemes keeps advancing every day. The more they are exposed, the more they find another way to reintroduce it to you. Mind you, people can’t have the same level of awareness about this, there would always be some victim out there and even someone with a lot of technical knowledge would always have a soft spot. Should some one someday be able to access that soft spot, you’ll become vulnerable and that’s how people get scammed.

There is no way technical knowledge about Bitcoin can prevent you from getting scammed which is an endeavor people need to take to make sure that they are up to date on how scammers are implementing their strategies to scam people of their funds.
There are different factors that can be responsible for getting scammed and it's not only by having enough knowledge about how scammers operate because you can still get tricked unknowingly to be shocked later that you were talking to a scammer.

[Queen uloma]

It's simple: if someone doesn't understand something, doesn't understand what it's about, then you don't need to have any connections with what interests them until they figure out the details. Example: a fraudulent project promises incredible profits. A greedy person will immediately decide to invest, without having any experience or knowledge of how to understand exactly what a scam project is or isn't. What is his mistake? That, first of all, he is greedy, stupid, and impatient. Anyone who wants to know about something is not in a hurry; he is careful, he is skeptical, and he parts with his money after checking all the red flags several times. Haste is needed when there are lice in the head. In all other cases, it is necessary to check everything carefully, even with technical and non-technical knowledge.

You’re very correct, anything you don’t understand I see know reason why you should have any connection with it. The guy who rush to invest because of incredible profits, it doesn’t mean that he  doesn’t have the understanding of what he was doing but he allowed greed and impatience to control him. The moment he saw money and also forgot to ask some basic questions like how do they make this profit, and what are the risks? This are the basic things to understand before investing. Someone who’s careful are not always in a hurry, they always check what they are investing on before they invest. Because it’s not everything that’s an opportunity some are trap, so anything you don’t understand don’t involve yourself. Tech knowledge will help you spot fake contract or spot fake website. The main thing that will save you is your knowledge and your patience.

[Dreadboost]

Someone with lack of technical knowledge can easily be scammed,  but that is not the only reason why people are scammed.  I think one of the major reasons why people are scammed is because of their greed. Like I always say that someone that is not greedy will be very had to scam. It's also true that these fraudsters takes advantage of your emotions, but it should also be clear that most times they offer something that is too good to be true,  but those that are greedy fall for this, because they are trying to make quick money and at this point they even forget to think because they are already greedy in nature. One of the ways for anyone to avoid being scammed is to not be greedy and not trust every offer that is made to them.

[CryptoHeadlineNews]

So, if technical knowledge is not enough what else is needed? Imo, what I think is needed are: critical thinking, emotional control, patient and healthy skepticism, because scammers mostly succeed because they explore human psychology rather than technical weakness. therefore,  greed, trust, fears, urgency and overconfidence are some of the common tools used by scammers.

Understanding how wallet works, and how signature and blockchain transactions work is perfectly ok, but it doesn't prevent you from being manipulated. So, feel free to give your 2 cents on this discussion.

Yes, I strongly agree with you about how having knowledge about the technical aspects of Bitcoin is not enough to avoiding scams or been prone to falling victim to scams. Because most of the recent scams that have been reported lately falls into the category of it been successful through the scammers ability to psychological persuade it's victim into believing the offer he or she presents to its potential victims, whereby offering them an offer that seems too good to be true, or using fear to make them click a link they ought not to have click, which actually granted them access to their respective devices.

[Mandoy]

So, if technical knowledge is not enough what else is needed? Imo, what I think is needed are: critical thinking, emotional control, patient and healthy skepticism, because scammers mostly succeed because they explore human psychology rather than technical weakness. therefore,  greed, trust, fears, urgency and overconfidence are some of the common tools used by scammers.

Understanding how wallet works, and how signature and blockchain transactions work is perfectly ok, but it doesn't prevent you from being manipulated. So, feel free to give your 2 cents on this discussion.

Yes, I strongly agree with you about how having knowledge about the technical aspects of Bitcoin is not enough to avoiding scams or been prone to falling victim to scams. Because most of the recent scams that have been reported lately falls into the category of it been successful through the scammers ability to psychological persuade it's victim into believing the offer he or she presents to its potential victims, whereby offering them an offer that seems too good to be true, or using fear to make them click a link they ought not to have click, which actually granted them access to their respective devices.

I think there's a lot of people out there who are technically smart enough to prevent themselves from getting ripped off. While it's crucial to know how to operate a wallet, private keys. And blockchain transactions. Scammers also engage in emotional manipulation. They play with the sense of urgency, fear, greed and trust to manipulate people to make poor decisions. That is why it's important to think carefully, be patient. And be skeptical. Even sophisticated bitcoin investors can find themselves in trouble when making rash and emotional choices. One of the best ways to protect yourself from scams is to always check and question information and offers that sound too good to be true.

[Outhue]

You can't always keep your guides up, there will come a day where you will be in hurry and you will lose your guide, this was what happened to me even though I have always been careful, I don't get scammed by strangers but I made mistakes by myself, strangers can't scam me no more because I don't listen to them, I don't even give them the room to talk, I just ignore or block them instantly but mistakes will happen at times, my advice is don't always be in hurry when it comes to crypto and transactions.

[qwertyup23]

<..snip..>
Understanding how wallet works, and how signature and blockchain transactions work is perfectly ok, but it doesn't prevent you from being manipulated. So, feel free to give your 2 cents on this discussion.

Knowing the technicalities and what to check before investing into a cryptocurrency project can absolutely prevent you from being scammed. However, knowing just the basics and the simplest/obvious forms of red flags on a given project can give you at least a success rate of 95% of avoiding such scams.

Lots of people have created multiple threads on how to spot the red flags on a given project. By those guides alone, a person who is new to this platform can have the simplest idea of knowing which projects to spot and avoid at the same time.

You can't always keep your guides up, there will come a day where you will be in hurry and you will lose your guide, this was what happened to me even though I have always been careful, I don't get scammed by strangers but I made mistakes by myself, strangers can't scam me no more because I don't listen to them, I don't even give them the room to talk, I just ignore or block them instantly but mistakes will happen at times, my advice is don't always be in hurry when it comes to crypto and transactions.

Exactly! Most scams can easily be avoided once you exercise due diligence and common sense. For example, if someone randomly messages you asking for an investment on a random project, then that should be a sign for you to avoid.

At the end of the day, I always follow the saying it's better to avoid than to cure. Even if you think a project is genuine, if your gut tells you to avoid or to stay away, then trust it with all your might.

[ruykeri]

You can't always keep your guides up, there will come a day where you will be in hurry and you will lose your guide, this was what happened to me even though I have always been careful, I don't get scammed by strangers but I made mistakes by myself, strangers can't scam me no more because I don't listen to them, I don't even give them the room to talk, I just ignore or block them instantly but mistakes will happen at times, my advice is don't always be in hurry when it comes to crypto and transactions.

You are absolutely right. If you do anything in a hurry, there is a possibility of problems. Especially in crypto transactions, you should be more careful. When copying and pasting the address, you should check it repeatedly and confirm it before making a transaction. Again, many times, various text messages or links may come from known people. In that case, you should also refrain from clicking there directly without understanding. Because known people are victims of hacking, after which they start sharing links to hack into different types of accounts or to gain data access. Then you may think that since my trusted person sent it, there will be no problem here, but your trusted person does not know about this  because his account is already under the control of others. So it is better to refrain from clicking or opening any kind of link without taking time in a hurry.

[Aanuoluwatofunmi]

By the virtue of how online or digital Technology are getting advanced and people are also taking advantage of this progress to scam all theirs that are not vigilant, it is necessary that we not only get the awareness alone about bitcoin network security, we are also expected to know what to do and what must be avoided to put all these things in practice, this will prevent us from falling a victim of any of such attempts against us.

[taufik123]

-snip-
Exactly! Most scams can easily be avoided once you exercise due diligence and common sense. For example, if someone randomly messages you asking for an investment on a random project, then that should be a sign for you to avoid.

I once got caught up in these kind of sweet words, inviting me to invest in a project suggested by a close friend,
even though the project was not clear enough and was just hype following other memecoin projects.

For some reason I was interested and went in with my $100, but then it was just a perfectly designed rugpull scheme, even big influencers promoted it.
They are willing to pay a big influencer with a lot of followers and then walk away with millions of dollars in profit.

Never trust anyone in this crypto space, all can be scammers and cause you to be scammed, so stay cautious and vigilant with your money

[lionheart78]

Exactly! Most scams can easily be avoided once you exercise due diligence and common sense. For example, if someone randomly messages you asking for an investment on a random project, then that should be a sign for you to avoid.

If there are no legalities and documentation on investment, then that is the one should be avoided.  If anyone asked us about investment, we must know what is needed, the right path to take, and what they offer for our investment. The offer and agreement should be notarized for the safety of both party.  And sadly, crypto investment does not work the way establishing a legal business does.  This is the reason why most crypto investments are scams.

Another thing, the most notorious scam in both crypto and fiat currency is the Ponzi Scheme company pretending to be a Multi-Level Marketing. 

At the end of the day, I always follow the saying it's better to avoid than to cure. Even if you think a project is genuine, if your gut tells you to avoid or to stay away, then trust it with all your might.

That is a smart move especially when the person is not in the field of investment, but for people whose bread and butter is investment, they can not just walk away, of course people who are smart and knowledgeable enough can see red flags, and that is enough to prevent a person from being scammed.

[Cookdata]

Scamming technique keeps advancing and for technical knowledge to remain relevant ahead of this scamming tactics consistent knowledge acquisition is required.

Technical knowledge isn’t some pro tip against scammers. It’s not the scammers blue print and these schemes keeps advancing every day. The more they are exposed, the more they find another way to reintroduce it to you. Mind you, people can’t have the same level of awareness about this, there would always be some victim out there and even someone with a lot of technical knowledge would always have a soft spot. Should some one someday be able to access that soft spot, you’ll become vulnerable and that’s how people get scammed.

I don't agree with your first statement, Scammer are just regular people with technical knowledge that exploit people with less knowledge, crypto knowledge isn't something you get and then move on, sometimes you don't need to go dip into technical, it's the basic things scammers do that makes victims to lose their money. For instance, it's difficult to get people's seed phrase and private keys, then they can create a fake wallet that can steal your keys.

The other day here, somebody found a wallet on App store, it's a sparrow wallet on apple mobile store but guess what? There is no mobile wallet for sparrow wallet, only desktop software exist and somebody reported it. If not for that report, many people will lose money because of that app. A smart person that see such app will check if such wallet exist or confirm but a person that is ignorant about the wallet may use it and become their victim.

[Patikno]

So, if technical knowledge is not enough what else is needed? Imo, what I think is needed are: critical thinking, emotional control, patient and healthy skepticism, because scammers mostly succeed because they explore human psychology rather than technical weakness. therefore,  greed, trust, fears, urgency and overconfidence are some of the common tools used by scammers.

Understanding how wallet works, and how signature and blockchain transactions work is perfectly ok, but it doesn't prevent you from being manipulated. So, feel free to give your 2 cents on this discussion.

Basically, scammers aren't concerned with your technical savvy; they are only concerned with their potential victims "awareness", and "skepticism". Do you think scammers only target certain people ? No, scammers will target anyone, hoping their potential victims won't be "vigilant", and "skeptical" about the information they receive. So, that is where the disaster begins.

Therefore, I have often reminded everyone (including myself) to always verify the accuracy of the information they receive to avoid falling into the traps set by scammers. Don't panic easily, and don't be easily tempted by what seems "too good to be true". Trust me, no matter how much knowledge you have about anything, if you are not vigilant or skeptical, you are very likely to fall victim to a scammer.

[Mpamaegbu]

So, if technical knowledge is not enough what else is needed? Imo, what I think is needed are: critical thinking, emotional control, patient and healthy skepticism, because scammers mostly succeed because they explore human psychology rather than technical weakness. therefore,  greed, trust, fears, urgency and overconfidence are some of the common tools used by scammers.

Especially greed and impatience. Those two are the strongest weapons scammers use. Two days ago, someone told me about an online stuff they were getting into that promised to return a certain percentage on a daily. I instantly told them not to get into it that it was a Ponzi scheme. I told him that in business, there's no steady guarantee of profit on a daily. Anyone promising anyone that was about to scam them. Dude told me that the person introducing him to it said that had been running for three years. The shocking part was when he told me that even if it would crash that he would've secured his invested capital. I couldn't argue anymore with him. I just held my peace and kept mute.

Having technical knowledge can help you avoid hackers, but experience and common knowledge help you avoid scammers.

Even technical knowledge, experience and common knowledge won't be enough to protect one once greed gets in the way. A few years ago, one of the crypto tutors and influencers I followed got all his wallets connected to extension drained immediately he downloaded a software he was tricked into downloading by a potential project offering him a lucrative job. That was it. He had the technical know-how because he used to teach app safety but on the day it happened to him, he didn't see it coming.

[Charles-Tim]

Even technical knowledge, experience and common knowledge won't be enough to protect one once greed gets in the way. A few years ago, one of the crypto tutors and influencers I followed got all his wallets connected to extension drained immediately he downloaded a software he was tricked into downloading by a potential project offering him a lucrative job. That was it. He had the technical know-how because he used to teach app safety but on the day it happened to him, he didn't see it coming.

We have been talking about how hackers and scammers are targeting people through job offer on this forum since 2023, it later become common on the news in 2024.

What you explained still means only technical knowledge is enough about the crypto tutors and influencers that you are referring to. Most of them do not have the technical knowledge that they think they have. I mean technical knowledge about how to avoid hackers and scammers. If it is me, this is one of the lowest hack or scam tactics that I can easily avoid.

If they do not demand money from you, they will tell you to download something that will infect your device with malware.

[ultrloa]

Even technical knowledge, experience and common knowledge won't be enough to protect one once greed gets in the way. A few years ago, one of the crypto tutors and influencers I followed got all his wallets connected to extension drained immediately he downloaded a software he was tricked into downloading by a potential project offering him a lucrative job. That was it. He had the technical know-how because he used to teach app safety but on the day it happened to him, he didn't see it coming.

We have been talking about how hackers and scammers are targeting people through job offer on this forum since 2023, it later become common on the news in 2024.

What you explained still means only technical knowledge is enough about the crypto tutors and influencers that you are referring to. Most of them do not have the technical knowledge that they think they have. I mean technical knowledge about how to avoid hackers and scammers. If it is me, this is one of the lowest hack or scam tactics that I can easily avoid.

If they do not demand money from you, they will tell you to download something that will infect your device with malware.

Those jobs offerings scam still exist for many years and it evolves, since many people still fall from that schemes.

The real issue is not about having technical knowledge, but rather those so called influencers or those who teach them crypto's didn't talk about or understand basic security.

Avoiding this scam is supposed to be simple, since if they ask personal information, then talk about you should download something and worse ask money then this already told as that they are scam. The real job offerings does not require us to download anything and give strangers access on our own devices. Because its strange if someone did that since this is really a big red flag.

[Mpamaegbu]

Most of them do not have the technical knowledge that they think they have. I mean technical knowledge about how to avoid hackers and scammers. If it is me, this is one of the lowest hack or scam tactics that I can easily avoid.

The dude I talked about is highly knowledgeable in Web 3 and organizes free and paid lectures from time to time. Has a strong community. He has also taught several times about wallet hacks and all that. I remember attending a class where he taught about wallet drainers too. You know, like they say, when it's about to go down it looks like a dream until it hits home. Anyway, what his experience taught me was that nobody is hack-proof in this industry.

[Charles-Tim]

The dude I talked about is highly knowledgeable in Web 3 and organizes free and paid lectures from time to time. Has a strong community. He has also taught several times about wallet hacks and all that. I remember attending a class where he taught about wallet drainers too. You know, like they say, when it's about to go down it looks like a dream until it hits home. Anyway, what his experience taught me was that nobody is hack-proof in this industry.

Not this one, this is a simple hack. Unless this was not what that happened. It can be easily avoided.

Yes, anybody can be hacked, but let it be on a device that you do not have a wallet and exchanges and your other money apps. Someone that is giving lectures to people about  hack should know that having two devices is better than one that will be used to access the internet more frequently. Or maybe he is using two devices, but still not following what he is teaching.

A good example of nobody can not be hacked is the Bybit hack. Yet, I am not disputing nobody can not be hacked, but it should be a new type of hack and not the old common ones.

[KiaKia]

This thread came about because of the conversation I had with my friends yesterday. At least one of my friends stated that most people get scammed because they don't know much of technical things.

I can partly agree with him, as indeed, not knowing much, or not knowing about technical things can make it easier to be scammed by someone.  However, there are also many cases where technical skilled individuals still fall victim to fraud.

So, if technical knowledge is not enough what else is needed? Imo, what I think is needed are: critical thinking, emotional control, patient and healthy skepticism, because scammers mostly succeed because they explore human psychology rather than technical weakness. therefore,  greed, trust, fears, urgency and overconfidence are some of the common tools used by scammers.

Understanding how wallet works, and how signature and blockchain transactions work is perfectly ok, but it doesn't prevent you from being manipulated. So, feel free to give your 2 cents on this discussion.

Critical thinking, emotional control, patient and healthy skepticism, I've unfortunately never seen a human being who is capable of all these in one body, it's impossible, the reason why we are humans is been flawed.

We change for many reasons in due time, one day you are emotional and the next you have no emotions, it's not weakness it's been human, this is my own believe, it's only an artificial robot that can have all this in one and everything will be present every blessed day.

To snipe a high value target you might need to stay in a location for days, waiting for them to get closer to a window 🪟 to take them out, that one opportunity won't happen everyday, for the sniper it's a chance, for the target it's a mistake.