Topic: Some tips to help protect yourself from crypto scam (Read 591 times)

Trust no one but only yourself, that is the reality in crypto. No one can be trusted when it comes to crypto assets as scammers are smart enough to determine the value of bitcoin more than fiat. And when you do invest, do it privately that even your family and friends are not aware that you’re into bitcoin. Because there are times that even if you are very careful with your investments, but then your friends and family aren’t cautious enough and spread news to other people that you’re into it. At the end of the day, your investments are still put at risk without you knowing.

One of the most thing's that makes people to be scam is that, when they have make themselves to be exposed in whatever thing they are looking for especially when they are conscious to make their deeam to manifest, scammers is ready to know your problem and your problem is what's necessary and objectives of scammers so that they may use it to enter inside you, so doing that you have to understand that you will be entering in the hands of scammers every day by day, we have to avoid all the messages someone unknown sent to us without having existing discussion with him.

That's right - that's the reality right now.
Scammers are everywhere – not just online, but they are all around us too. Not everyone you think is good is a good person - so no one can 100% trust anyone online or offline.

Many people probably need recognition for what they have achieved in the crypto space. One of the worst examples is showing off profits obtained from investing or trading on Facebook or social media. They don't know who is lurking behind the scenes and waiting for their weaknesses - so protecting financial privacy is really recommended for the security of your assets and yourself.

Yep. If we have good knowledge, we may minimize the chance to be trapped in the scams. We can analyze the potential scams easier, understand suspicious project, know which airdrop/giveaway is fake, and should never share any private data. This can be done if we have knowledge, people who don't have knowledge may not care about this. That's why knowledge is important, and the newbies are demanded to focus on learning when they come to the forum or know crypto for the first time. Unfortunately, many newbies don't really care about learning, many of them prefer to focus on earning money instantly.

By the way, one thing that we must always remember that we must be careful. This is one of the important part to avoid scams. Even if we are knowledgeable and experienced enough, it may not work if we aren't careful. The carefulness is a must nowadays, the scammers are getting smarter, they can make more convincing projects.

Topics like this should always be on this beginners and help section cause newbies have to learn how to securely navigate this crypto space that's full of fake and scam projects, and even now this bull run many newbies might fall for scam projects just because they didn't know how to properly identify scam projects.

I don't think exchanges can be trusted cause they are centralized and you know they can seize your assets and just shut down anytime, like in the case of my gox that got hacked, exchanges are a major target for hackers cause they hold lots of crypto and would be highly profitable to get them, that why self custody must be promoted.

You should be specific and fully explain this, I don't trust centralized exchanges I worry every time I trade and deposit on a centralized exchange so do your diligence and always check the status of the CEX you're trading, and on a decentralized exchange, I have to be careful as some scammers are good at manipulating and imitating tokens that you're trading, you have to be fully aware if the token you are trading is the token you are looking to trade they always have that warning, especially on a new token.
And on the wallet, I don't trust a wallet that is not open-source.

To be honest, scammers are getting more and more common these days, particularly in the crypto industry, so one must exercise caution in anything they do. On the internet, con artists are laying traps that, if someone isn't watchful, they will fall into and some will be taken advantage of. Thus, let's always exercise caution before using the internet for anything, even conducting in-depth independent research.


Following people's advice without your own personal research can lead someone in the wrong direction and make them lose everything they have. If someone wants to be successful in this life, especially in the cryptocurrency industry, one must have good knowledge and always do their own personal research before investing in any project. Many people lose money in the crypto industry nowadays not because of anything but because they are following people's advice with their own research.

Suspicious links should be avoided unless you know the source of the links. Links are a strategic tool scammers use to get people to follow their victims, so to avoid scammers, do not always click on any links like that until you are very sure of the source.

The last tip has the most appeal to me. No need to rush, always take your time to gain knowledge about how to secure your crypto and protect them from all types of scam. Unplanned decisions will only put you into a worst situation, such as making you fall for the scammer’s trap since your greed is bigger than your own knowledge in crypto.

A lot of crypto investors who end up in failure are those whose actions and decisions are motivated by greed, thus if you want to stay safe and protected at all times, follow the basics and get rid of greed.

Saying you can't trust them with your money is too big of a statement because you can't trust the decentralized exchanges either as they're not better options. in fact DEX are getting more hacked than CEX. We have reputed exchange that you can use for trading, this exchange have been operating for quite sometime and are unlikely to scam you when you use their exchanges for trading but what you shouldn't do is to use exchange wallets as a place to store your cryptocurrency.

Traders keeping some money on exchanges are taking a big risk even though they'll need those funds for quick trades and can save some dollars on transaction fees but an investor has no point storing their bought coins on exchanges. You can avoid exchanges until they gained some reputation among the community. I don't use an exchange that's hasn't experienced the bear market. I'll use the old and reputable exchange over the news ones attracting users with their juicy offers.

We're human beings, we have to trusts so I'm giving credit to some of the exchange that has been provided service to the community even though they aren't the exchange we were hoping will provide those service. All what I'm trying to say is that we have reputable exchange that you can use for trading and trading only.

Just to add on the list you provided, here are some factors that you should take note in order to prevent any scam from happening to you:

• If the investment is too good to be true, ignore and leave;
• Fake ANNs with copy-pasted Whitepaper and fake team members; and
• Avoid talking to random strangers and accepting their requests with suspicious links

As someone who has been reporting fake ANNs and scammers in this forum, the second and the third scenario happens frequently. Mostly, some people are approached by newbies telling them to invest in a certain website which contains too good to be true investment rates (e.g. ponzi schemes) but they are all scams in the end.

Under the ANN board, there are hundreds of ANNs advertising their newly created cryptocurrency and altcoins. Always double-check the information being posted and you can also visit the "scam accusation" board to check if you have any doubts to a specific project.

The is reason newbies are advised to avoid investing unless they have good knowledge about cryptocurrency first and the industry, because if you they have the proper knowledge how can someone do it own research and know they best project to invest in. Personal research is very important because you will know what to do and what to not do because of proper information you may get, but if you are relying on someone advise it hardly to know proper things to do because you just be following what is doing whether is getting big risk or no, someone may not know.


It's crucial to be caution when using the internet! Watch out for dubious links that may not be what they seem at all times. A link could be a fraud if it makes grand claims or comes from an unknown person. Scams are similar to cunning plans to obtain personal information or create problems. Thus, be careful and refrain from clicking on dubious links. It's similar to not opening an unexpected parcel from an unknown sender you never know what might be inside! You can safeguard yourself and maintain a joyful and secure online environment by exercising caution.
Some people lose a lot of things both offline and online as a result of disclosing personal information to strangers. Therefore, anyone who wants to preserve their asset must completely refrain from disclosing any personal information. It's crucial to keep our private key and seed phase confidential, especially when it comes to cryptocurrencies, unless we are genuinely trusted.


 it is imperative to exercise extreme caution, particularly when an offer of something of value is made. I really advise you to look into giveaways and make sure they're coming from a reliable source before getting too excited about them. Giveaways are a tool used by con artists to draw attention and fool people into parting with valuables. It would therefore be wise to decline and not take any dangers unless you are positive about the source of the freebie. You may avoid these cunning crooks on the internet by exercising caution and doing your research!

No matter what happens, DYOR is the key. That is to remain updated how those scammers are scamming everyone so that you will gain ideas if ever you experience the same thing or that you can advise other people if they are currently scammed or not. At least, with your knowledge, you can take an edge over those scammers or you can help other people how to be aware so they won't be scam in the process.

Lol... That's magical Rika...
I was wondering why it sounded so much like something I've read before?? Then I scrolled down a bit, only to get caught up in your post.. everyone's trying so hard to repeat old points with new words.. I don't see that as a valid thread cus when I saw the caption at first, I thought he had something different to tell us.

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Ehhh, I know too well that there isn't a way to evade crypto scams totally, so the least you can do is protect yourself. About clicking on phishing links - haven't y'all got spam folders to trap this links from getting into your mailbox?

Sandra 🧑‍🦰

The crypto industry is full of scammers so we just need to be careful with our daily activities else someone might take advantage of us, no one will safeguard you so we need to do it by ourselves. Good initiative by posting a reminder to remind us all of the dangers of scam and our to safeguard ourselves. Some people might not take it seriously but aa word is enough for the wise, don’t wait till you fall victim before protecting yourself.


This is so common with newbies, they will just want to invest in anything they come across just because others are talking about it, they would invest in a project they know nothing about neglecting the fact that it’s not safe or rather they lack proper knowledge to understand the concept of the crypto world. They are just so keen on making an investment on a certain project because of some fake promises made to them. The crypto industry is full of deception and lies that’s why it is so important to carry out research on any project you come across, we should not underestimate the power of DYOR.


Any suspicious links should be ignored. In fact, we shouldn't merely click on any link received from an unknown source. instead, we should always confirm the legitimacy of the source and the content before acting on the information. Scammers utilise links, which are extremely risky, to entice victims.


Securing your assets is the top priority as an investor; selecting a suitable wallet for your assets and implementing the best security practices are essential. How and where we store our assets is a crucial issue we need to address first when investing in crypto because when your assets are gone, there will be nothing left to secure. In order to avoid utilising a fraudulent or untrustworthy exchange, it is crucial to verify the legitimacy and reputation of the platform before choosing a wallet or exchange to complete a transaction.

The only way to avoid these scammers is not to communicate with strangers especially on social media platforms. Because these scammers will target our weakness and they are known to have such skills. With the use of their communication skills, many will surely fall into their traps.
That is why we have to analyze the situation first before making a decision and keeping in mind that scammers are around us, they will do their best as well to have a victim. Trust no one aside from yourself. We can't fall into scams if we keep ourselves aware of the situation and consider everyone as a scammer.

Crypto scam ahead been in existence for a long time now and all we have to do is to stay away from it. Many have lost money ftom this scam so it is advisable for us to dyor before we buy or involve in any cryptocurrency transactions as either an investor or trader.
There are new scam that are coming up again and if we don't make sure we do the necessary things, it could affect us severely especially after we have taken the wrong decisions that led to our lose of funds.

It is unfortunate that people don't know much about scam when they first know about cryptocurrency,  they get to have knowledge about scam I'm their first encounter they have with scammers. It is only few beginners who are opportune to get orientation about scam that can always escape the the trap of scammers.  It takes thorough reasoning to understand what is scam because this scammers are very intelligent which they try to frame things and make it look as real. Getting understanding on how scammers works is very important for every beginner that should not be taking for granted.

If you are knowledgeable, you will have more chances not to be scammed in the future. And you will also be aware  of the latest trends on scamming people which I think will greatly help not to fall as victims to their hands. However, no matter how we seem to be brighter and smarter, we should also not underestimate the potentials of scammers as they can always be wiser than us. But that will only happen if we are weak enough to fall on their traps.

Also, some are being tempted with the hyped surrounding the project, not thinking about the real intentions of those people behind such project.
They thought they can easily get profits and be rich once they got a hold of those tokens or coins.
But it is already too late when they realized that they got screwed by those "devs", as they abandoned the building.
Just look at how many fake giveaways or airdrops you will encounter, and how these users are accusing that crypto is a fraud.
But is their actions why they are getting duped in this market. The technology itself is not a problem, it is the people using it.

Nice and keep it continuing.



I have just created a warning thread about fake Metamask airdrop. There are a lot of such fake/scam airdrops/giveaways running on social media. Most of the time newbies are attracted to them due to lack of knowledge and greedyness. 

Scammers normally run more of these fake airdrops/giveaways during the bullish market. So newbies should be careful during the upcoming bullish market.