Topic: BEWARE: Avoid These 7 Cryptocurrency Scams Happening Right Now (Read 160 times)
Thank you for your effort to complile the scam list. I would like to add airdrop scam. There is airdrop that has a fake website that bring you to the fake wallet, it trick people to reveal private key.
👀⚡️⚡️⚡️Scams and phishing attempts are, sadly, a regular part of participation in blockchain technology at the moment. remember to keep safe your passwords and account information. If someone asks you for these things and claims to be a part of any project, please report them as spam. as well post out to admins.
You forgot the "reveal you private key" scam. Wallets pretend to be wallets, and you trust them for the ease of use. But in the end, they're populating pre-populated private keys / public keys and just handing them to you.
When you put a significant amount on, like 1 BTC, they'll just instantly transfer it out of your wallet and suddenly the site is experiencing maintenance issues and you can't contact them.
You can avoid these by looking up reviews for a particular wallet online. Either that, or you could just use an official wallet for the coin you're interested in.
When you put a significant amount on, like 1 BTC, they'll just instantly transfer it out of your wallet and suddenly the site is experiencing maintenance issues and you can't contact them.
You can avoid these by looking up reviews for a particular wallet online. Either that, or you could just use an official wallet for the coin you're interested in.
So, the Pump groups on the telegram are the game of the crypto owner?
Lots of groups Pump Pump coins in the telegram to be aware. and many victims who bought the coin.
Lots of groups Pump Pump coins in the telegram to be aware. and many victims who bought the coin.
frankly if we research further then there are many more scam that can find. some people or newcomers are lazy and do not care about it. they are only concerned with profit without realizing that there are many risks if they are not careful in investing.
that's a good summary. thank you very much for your effort. it is good to know about all this.
You may call it The Seven Deadly Sins in Cryptocurrency. Those are all true and newbies in this industry should be aware with these manipulators. Pump and Dump groups are only meant for those person who paid the VIP members and those who joined for free were just use for the benefit of VIP group. I never trust P&D groups and the bad news is even government were unable to track those people.
1. Twitter Frauds
Recently, one of the most common ways for the scammers to trick investors is by Twitter. Many fake accounts have lately attack Twitter with tweets giving assurance of gaining 10x returns.
2. Market Manipulation
Sometimes regulation can be considered as a good thing, mainly when it protects the vast majority of people. Such trading regulations prevent scammers with large bankrolls from taking the market into control and scamming regular investors to open/close positions. Being present, these regulations usually help investors from getting tricked, easily finding out the most common market manipulations.
3. Fake Buy/Sell Walls
The buy/sell walls will not affect you, unless you usually base your trades on chart analysis. You can easily identify a wall when you look at the depth chart of an order book. On this point, as the name tells itself, a wall usually consistently appears as a high wall just on one side of the order book, most times 2-5x larger than the other side.
4. Pump and Dumps
Pump and dump groups’ strategy is to artificially pump the value of a particular coin right before dumping it on the investors who got fooled and thought the chances of gaining more were very high. In industries where 50% gains in a month are easily attained, it’s weirdly amazing how still pump and dump (P&D) groups even exist.
5. Paid Promotion
Even though we might think that many well-known figures of cryptocurrency might be on our side, many of them are usually paid to promote coins in the cryptosphere. Whenever these endorsers are paid to promote various projects, they are required to reveal. Right now, there is no force towards them to do so and they rarely do.
6. Shady/Shoddy Exchanges
Knowing that some exchanges are vulnerable to hacks, some having questionable management practices, others having security flaws, it is very risky to keep your digital assets on these exchanges. Consequently, we recommend to keep your coins in a wallet, such as the Trezor or Ledger Nano S. Also, even when you store your coins in a wallet, you should be cautious when trading on exchanges.
7. Phishing Attacks
One of the most common cryptocurrency scams are “Phishing attacks”. Phishers commonly purchase domains and Google ads imitating popular exchanges. The fact that the fake website looks alike with the real one- once you enter your credentials, the fake site directs you toward the correct platform, therefore, you get stolen, and your account gets empty. To not be a part of this scam, make sure you always type the exchange URL directly into the address bar. More importantly, you should have some type of 2-factor authentication enabled for all of your accounts as well.
Source: https://www.google.com/amp/s/ethereumworldnews.com/beware-avoid-these-7-cryptocurrency-scams-happening-right-now/amp/
Recently, one of the most common ways for the scammers to trick investors is by Twitter. Many fake accounts have lately attack Twitter with tweets giving assurance of gaining 10x returns.
2. Market Manipulation
Sometimes regulation can be considered as a good thing, mainly when it protects the vast majority of people. Such trading regulations prevent scammers with large bankrolls from taking the market into control and scamming regular investors to open/close positions. Being present, these regulations usually help investors from getting tricked, easily finding out the most common market manipulations.
3. Fake Buy/Sell Walls
The buy/sell walls will not affect you, unless you usually base your trades on chart analysis. You can easily identify a wall when you look at the depth chart of an order book. On this point, as the name tells itself, a wall usually consistently appears as a high wall just on one side of the order book, most times 2-5x larger than the other side.
4. Pump and Dumps
Pump and dump groups’ strategy is to artificially pump the value of a particular coin right before dumping it on the investors who got fooled and thought the chances of gaining more were very high. In industries where 50% gains in a month are easily attained, it’s weirdly amazing how still pump and dump (P&D) groups even exist.
5. Paid Promotion
Even though we might think that many well-known figures of cryptocurrency might be on our side, many of them are usually paid to promote coins in the cryptosphere. Whenever these endorsers are paid to promote various projects, they are required to reveal. Right now, there is no force towards them to do so and they rarely do.
6. Shady/Shoddy Exchanges
Knowing that some exchanges are vulnerable to hacks, some having questionable management practices, others having security flaws, it is very risky to keep your digital assets on these exchanges. Consequently, we recommend to keep your coins in a wallet, such as the Trezor or Ledger Nano S. Also, even when you store your coins in a wallet, you should be cautious when trading on exchanges.
7. Phishing Attacks
One of the most common cryptocurrency scams are “Phishing attacks”. Phishers commonly purchase domains and Google ads imitating popular exchanges. The fact that the fake website looks alike with the real one- once you enter your credentials, the fake site directs you toward the correct platform, therefore, you get stolen, and your account gets empty. To not be a part of this scam, make sure you always type the exchange URL directly into the address bar. More importantly, you should have some type of 2-factor authentication enabled for all of your accounts as well.
Source: https://www.google.com/amp/s/ethereumworldnews.com/beware-avoid-these-7-cryptocurrency-scams-happening-right-now/amp/
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