How to be aware of most common crypto frauds

crypto scam

Cryptocurrencies have become the new investment market that is making its way among the youngest and not so young. In 2021, cryptocurrencies reached all-time high prices, reached new users, and became a more mainstream and important part of financial strategy for individuals and institutions alike. As is often the case, the more mainstream something becomes, it will also attract the attention of those who will try to illicitly use it to enrich themselves through fraud and scams.

According to a report by the Chainanalysis platform, we know that in 2021, along with the historical values ​​of Bitcoin and many others, the volume of this type of illicit activity related to cryptocurrencies also reached its maximum historical level of 14,000 million dollars, 80%. more than in 2020, when the figure was close to 7,800 million. There are many types of crypto fraud, but these are the five most common in networks and apps.

Fake verified accounts

fake verified account

One method by which cryptocurrency scammers try to trick other social media users for their illicit purposes is by posing as verified accounts, as this often creates a false climate of trust for social media users and leads them to bite the bullet tricks. These scammers make the blue verification mark appear where it should be, which at first does not distinguish it from the real accounts authorized by Twitter.

However, beyond imitating the aesthetics, the little bird’s social network also includes the following message by simply hovering the mouse over it or clicking on the verification symbol so that it can be used to distinguish one from the other: «Account information. This account is verified due to notoriety in the government, news, entertainment, or other designated category.”

Answers with fake accounts

fake verified account

As we have said before, cybercriminals can impersonate verified accounts by adding that symbol, but on other occasions what they do is change the identity included in the profile information by posing as media or programs with public notoriety, as was the case of the theft of Troy Stecher’s account to impersonate the official Twitter of “Saturday Night”.

In this way, as many people tend to be aware of the responses to tweets from celebrities, they can impersonate the identity of not so well-known profiles to respond to those big celebrities according to what suits their fraudulent purposes.

Fake giveaways of impersonated brands

crypto fraud

Sometimes scammers directly impersonate big brands to attract the attention of users. With this bait, they promise users to double their earnings in Bitcoin and other cryptocurrencies if they are the lucky winner, although for this they first ask you to deposit your money in a wallet address.

In case of doubt, it is recommended that you first search for said giveaway on Google, if it has been the subject of any news that validates said promotion, verify that the giveaway URL corresponds to a real corporate web address and even check other networks. social of that brand to check if that giveaway is also being shared. In addition, it should be remembered that all real draws should have their legal bases published, although the latter can also be falsified.

YouTube peddlers

youtube peddlers

By now you have already seen advertising or you have directly arrived without knowing very well how to a video of a guru who has been successful investing in cryptocurrencies and is practically going to make you rich just for having fallen for that reproduction.

Beyond the scams that can really be their success stories and the courses they offer, on many occasions these greedy videos with economic success stories include a link with some type of promotion that, in reality, is the door to their fraud. Check the YouTube channel, using statistics such as the number of videos and followers or if it has the platform’s own gray authentication badge, although they may have come to impersonate or steal other channels.

Love for cryptocurrencies on Tinder

Although the purpose of Tinder is to connect people to flirt, many users use these applications for more shady purposes, as the Netflix production: The Tinder Scammer, the true story of the scammer Simon Leviev and how he seduced women on the internet to scam them millions of dollars.

Well, the same can be applied to cryptocurrencies in this or other apps to find a partner. If you have managed to make a match and it turns out that your hypothetical future date begins to be interested in making you earn money by investing in Bitcoin … be suspicious. They are strategies to make you fall for cryptocurrency scams and you will be left without money and without love (hopefully at least healthy).

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