Topic: How to avoid bitcoins and other crypto fraud - page 2. (Read 836 times)

Yes, quite a lot of people have fallen for this and lost their hard earned money in the process, if you be person wey dey use Telegram well well, you have to be careful about this.

Them go contact you with an account bearing a beautiful woman's picture, dem go tell you about a new kind of investment that you can make money from, if you put your money, dem fit allow you withdraw am the first time, with small ROI, so you go trust them and invest with a larger sum. The moment you do that, them go seize the money, come dey ask you to deposit more money, so you go dey able to withdraw the one that's stuck in their platform.

This is one of the best methods scammers use to scam people who are not into crypto or those who are newcomers and lack the best knowledge of bitcoin. Although it is kind of funny to me that someone from now will claim that you should give him or her money, he will help invet, and your money will be double. If such a person is a critical thinker, he or she is supposed to know that even though it is going to be possible, it will not be the way he said it. The only way to overcome things like this is by doing research after getting these king DM people in our DM, but people failed to do research because of greed, so they didn't mind; they only sent out money.


The three points outlined by the OP are that if you are educated, you will not fall victim to a scam. I'm not trying to say what you said you are not right, but when it comes to things like this, once you are educated, you know what you are doing in the crypto space. Im very sure you won't fall victim to a bein scam. The only time I can say you may get scammed is when you invest in a scam project, but as long as you are educated about bitcoin, nobody will come to you and say you should come. He will teach you how to double your money after investing in bitcoin. However, we should pray against being scammed by charm.

Online is full of scammers, and so many people have developed crypto projects just to scam newbies of their hard-earned money because they lack adequate knowledge of what is happening in the world of cryptocurrency. The three tips you mentioned are a good way in which newbies get scammed in the crypto world, but I will want to add a few tips so that newbies will be properly guided not to get scammed.
 1. Don't make use of public WiFi.
 2. Don't use unsecured software.
 3. Don't store your bitcoin in any wallet that will not give you 100% access to your bitcoin.
4. Don't send anyone your bitcoin online, even if that person claims to be Satoshi Nakamoto, because you will lose your bitcoin if you do.

The course of many rushing into such false information and scammers damn is due to lack of knowledge and the mentality to which they are coached or them conceive from from somewhere mostly newbie's, have the mindset of crypto as quick to get rich platform and have the believe that others has made it in the system without seeking to knowledge on how patient they have exercise in the crypto space.

This advice is very crucial,  once you know that anything money don't come without work , and is not a place of doubling Money but investment with patients only this can make you smart when such scammers comes your way.

That  is why this saying always remain to be true in most case when a purpose of thing is not know abuse is inevitable, the abuse is falling into wrong hand because of ignorance and most of this challenge or scam di come from airdrop where many promise of doubling your income is assured.

This is very important for everyone most especially the newbie who haven’t understood what the fraud can do, fraud or let me say the scammers are people who go about to scam or steal people fund or investment and those scam have some skills that can make someone to fall in their trap, the number one this is the easiest way that many scammers scam people, you know when it comes to doubling money that’s what people want, no one want to work and earn their own sweat money, and immediately they heard that if you put any amount you will get the double of what you put and that will make someone to be happy, not knowing that there is no free money to make this days.

And about number three, they are very smart and they are the dangerous people because they act as if they’re real, you can receive a message through email and some link and some can call you and act like a bank worker and start having conversations with you that make you send your pin or password to your wallet, never click or share your password with anyone even your close friends never show them or else you will regret showing your secret to the people who are closer to you.

You are absolutely right, because whatever one lose in trading can't be gotten back, its gone and gone forever, that is why it's advisable for everyone to trend with cautious because not all that glitters is gold, if we are not being careful, we might end up doing what we will regret later on in life, so before we take any action concerning what is new to use, let's seek for help or support to enable decide what is right or wrong and also before we decide to do any transaction with any unknown source or site, we should research about it before we can do any transaction. And we won't be a victim to fraudster  if we have the knowledge and the understanding of what we are doing.

Op, the three (3) points you listed are very nice but people getting scammed in crypto or maybe outside crypto is not because they are not educated or vigilant enough. Scam, sometimes it's like an accident and accident is something that people don't expect but sometimes we are concious that accident will or may happen because of the state we find ourselves, imagine someone who is drunk now entering inside his/her car to drive my brother waiting you dey expect go happen. Waiting I dey try talk be say, e get some fraud wey person go dey concious of and e get some wey we no dey, dey concious of, e get some kind thing wey you go just see like this wey go look so good not to be real and it's not like you trust it but you just want to give try and Las Las na fraud and sometimes dey use charms to fraud. thanks

If you observe carefully you go know say anything wey concern crypto na just about smartness, in summary creating a comfortable and safe environment go help definitely when you no suppose hear all this kind things like doubling an extra money for no reason, but, definitely them go come even with safety measures so seeing how everything works in crypto space everyone involve go need get knowledge first to overcome all this ones. The first thing wey I dey reason concerning free money offer na always false cause free money no dey anywhere and believing such when it has to do with crypto is surprising. Topics like this full the forum and you go see different steps to follow make you no go enter one chance.

You have some nice ideas, but the straight-forward and best solution is to just do your own research and don’t be greedy. You see, these two main factors are just what will save you from this crypto fraud because that is what scammers use to attract their clients, and they will like to see if you are literate or illiterate in the aspects of the crypto space. and also see if you are a greedy type or not, but if they find it hard to address these two factors, I don’t think they can be able to scam you.

But no matter the level of caution that is explained to people, they will still be victims because everyone who spends that money in the simplest way, which is easy, will arouse laziness and greed. because if you are lazy, you will not be able to have the strength to go and get more information about the project you are trying to invest in, and when a scammer brings something to you, he will like to persuade you with the best that he can do and make sure it proves to you that you will gain a lot of profit from, which will arouse your greediness level, and you will just give him trust, which will be a regret for you in the future.

One thing about dis crypto street Waka be say you no fit too wise finish but your advise Sha dey alright but I just dey try let you know say enh too many things beyond wetin u don talk now need to be done if you wan actually dey sure say you no fall for the crypto street movement because guys go still run you strrt even if say u na tae tae man for the crypto biz but if you don fall once use dat one as experience take guide make e no for happen again na so d Mata be because d truth be say no be everything you go know by reading or say you see or hear about am somewhere, some things you go know am by experience direct den you go fit understand am better.

E no get any body wey be say don become senior Man for the crypto business wey never get one experience or the other but with time them come Sabi pas as dem been dey when dem start, experience na must for d business sometimes e fit no be scam sef e fit b normal carelessness or say u no been really understand something den u run am e com cast, all those kind levels dem so just put your eyes for ground well and follow who know road na d best a d safest way b dat.

Should we all now agree that cryptocurrency activities should be regulated in the country, so that every investor who has coins in a wallet for long or short term basis, would be safe from hackers and scammers?

I ask so because I understand say person need to really know watin dey current and the best practices to keep their wallet and privacy safe from hackers and from information theft. That's why joining this Bitcoin forum suppose be a requirement for novices wey just join the crypto currency market.
That's why also, every crypto currency investor must sabi do personal research, must sabi read and write and understand big grammar well well.

To avoid Bitcoin and cryptocurrencies fraud, the underlying word of advice na to go slow and steady in reading and proof reading before investing and accepting terms and conditions, in double checking and triple checking details before confirmation of transactions, and to be internet savvy enough, because the world is veering into virtual realities and advancing daily in the aspect of web3 internet and AI integrations, incase you don't believe programmable AI can hack ones account too.

Op this key can help to remedy some scam mostly beginner, but the most victim of scam is newbie with quick to get rich syndrome, this also occurred in the Fiat system the so called 419 who claim to be money doublers all get their victims who are so build up by greed. In the crypto space if your build up by greed and comparison of how others make it in the system without know the level of work and how patient the people has been before the level becoming a cheap. Prey to the predator called scammers won't be hard for them.

Two things beginner must put out side
1. Greed
2. Comparison
The system is not quick to get rich for any who is looking for where your money or BTC would be double it's already seeking for scammers even when such is told to you, you need carry out some search to find out how genuine the thing may before partaking, aspects of comparison many ranked person have spend a good number of years in the forum and into crypto space to think you will be if there level overnight by way of short cut and doing some telegram scam work or airdrop your nit sure of it genuity exposes such beginner into scam.

Learning no get limit and it's not applicable to newbies especially when it has to do with security. Everyone can fall victim to this scammers irrespective of your rank here in the forum but newbies to this industry are actually more vulnerable. Let us all be careful to protect ourselves from cyber and physical attacks.

I have little contribution to add to your points:

Not only cryptocurrency, if anyone asks you to send anything be it digital or physical currencies, properties and receive double in return, you don't have to think twice before cutting off that conversation and block the person straight. Remember, the more you keep the conversation, the high chance you become convinced and end up falling into their trap.

Limit your access to unknown websites once you start your journey in this space. Advisably, have a separate device for your daily usage and the other for your investments. This one will contain your wallets with very limited access to internet through shared links.

It doesn't matter whether someone approached you for investment or to teach you about crypto investment, trading or whatsoever, it's definitely an attempt to scam you. No serious person will message you first just because they want to teach you, you look out for them and not the other way round. In the course of looking for one, please be careful and if possible, look around your vicinity for physical tutor.

In conclusion, the first step to avoid being scam online and offline is to be contented and do away with greed. Greediness is the major factor that leads to being a victim of scam. If you are desperate to make money which you did not work for, you will definitely get scammed one day. Bitcoin is all about learning, buy, hold/trade and sell. Anything other than these, you should question where you are heading to.

The way the world is right now, people falling for scam in the crypto space is mostly self caused issues, a lot of people are just to greedy to them selves to the extent of wanting the whole world to be theirs in twinkle of an eye. Such people always end you get miss lead or bankrupt with such desires. If one can only be very careful or what they are dealing with them cyber crime will reduce because we aid in the process.

In a decentralised world, everyone is in charge of whatever happens around their assets, you much in the best of your vigilant behaviour to survive every attack that comes in the crypto world. Anyways all the list out ways to avoid the attacks are correct and a lot of people has contributed equally to make sure we all stay safe out there.

Because of the way the country be, people fall for this wayo them say them want to double your money make dem invest and unknown to them na scammers. Always be guided. Op you tried let the newbies follow up dis your advice and make dem bo fall for any fraudulent activities in their dealing with bitcoin investment. And I will also add one to what you have said. And which is, don't connect your wallet which you have your large number of savings to any website. And don't involve yourself in any Ponzi Scheme. Do your investment and leave the rest.

Wetin this industry dey about, no be decentralization? This one supposed tell you say na everybody on their own for here so na you dey incharge of your own security, protection from scammers and everything. Wetin important pass na to stay informed because information na power and some kind information dey go out of date and new ones dey come on board so if you no dey up to date, you go dey use old update dey hold body and when scammers or hackers come, you go come become easy target for them to attack but for your own mind you dey protected.


If it's too good to be true then it should be avoided, consider everything as a scam until proven otherwise for this market because alot of scam full. The market no dey regulated so anybody if bring their own thing wey go make scammers dem plenty dey look for their next victim. Always verify anything wey you wan do to make sure say e legit, make you no go dey regret tomorrow. The best way to avoid scams so na to focus on buying the coin wey you wan buy and commot mine for any other things wey dey the market. No be must to follow people do wetin dey trend, just dey invest and hodl and e dun finish be dat.

While everything way you don propose Dey nice, I think the option 3 na where everything about being careful Dey start. You gats Dey suspicious of anything and everything. E no just rely on the emails and the elements to conducting any activity way you don put there but, to Dey curious in general.

Now the truth be say, we Dey into the business of trying to earn and increase our earnings and as e be like that, e Dey easy to Dey greedy and want speedy returns on your investments. This na something way you no need entertain via say, e fit easily make you loose you guard and once you loose guard, na so you no go keep to details and that’s all an attacker or scammer go need to defraud you.
Just no Dey greedy and keep your guards up!

Be even careful with the people around you, the people who you give your phone or laptop having your wallets to and think that you can trust them. Nor go fall victim, some kind people nor be who dem say dem be. Dem fit dey run double shift, dey act normal for day then dey steal people crypto for night. Dey careful because these people fit put some kind things inside wey  dem fit use dey monitor you and all the things you dey do for the device.

Another side tip is to be careful with who you tell about your bitcoin investment, and what you expect to gain from it. 

Yes, the three tips you mentioned are indeed the best ways of avoiding external forms of Bitcoin scams, but how about internal ways of avoiding Bitcoin scams? Have you ever thought about it? Because as newbies, those are the easy ways people like you are likely to fall victim, simply because they weren't equipped on time on best way forward. Hence, I will be giving you short internal tips of avoiding crypto scam.
1. Ensure to safe your wallet private key/seed phrase in places only you and you alone can have access to it.

2. Ensure to use a very strong password for your Bitcoin wallet, so that it can't be easily guess by people living around you.

3. Never store large funds on an exchange wallet, but rather non-custodial wallet such as Electrum and Blue wallet.

After I got scammed in my early crypto days by a crafty scammer, I been don formulate one simple rule of thumb when it gets to do with anything crypto related and that rule goes thus:


It's that simple. When I see any content on crypto Twitter or a WhatsApp / TG group and it sounds too good to be true, my alarm goes off about a possible scam. Most scammers plot their scams to be attractive so it can entice a user to fall victim of it and that's what I look at for. If it turns out to match that criteria, I'm not touching it even with a 10th foot pole.