Topic: The most common types of cheating in the crypto world (Read 287 times)

Giveaway scams are scams that are easy to guess but also very easy to trap the victim. Youtube is the hotbed of giveaway scams today. Many of the live broadcasts were conducted as if they were an official giveaway because they used videos of top CEO exchanges such as Binance CEO Changpeng Zhao. Then the Twitter scam that you mentioned, is a fraud as well as hacking of important people's twitter accounts, so that many believe and send some BTC and ETH coins to the given address.

All these types of scams must be avoided and reported immediately if anyone sees them. because it will be very detrimental to many people.

Yes, probably not proof, reading specially this is a translation. My initial thought is the Bounzi could be Ponzi as well. Anyhow, I commend the OP for his translation of the article and he should comeback to edit and correct those "mistakes".

I don't know if anyone notices it but then, it's 'sim swap' not 'sim swa' as it appears. Well, the Bounzi Enterprise as it appears there seems to operate on the same pyramid scheme as Ponzi schemes. Is Bounzi Enterprise a type of Ponzi scheme or another name for Ponzi schemes otherwise, I would have just said Ponzi,,, its popular and makes more sense to me that way.

Aside from copy paste there is no discussion from op with the comments at all, you can see how serious he was about it 

most cryptos are scams. Some of the big ones use market making scams like zec or many others. They are only waiting for you to buy then they see a sale and crash until you take losses and wait for the next victim. This is most exchange coins

Being aggresive on an easy money could lead to rekt and devastation in terms of money.
Lot of people already experienced this. It's just very sad and for those damn scammers, which they really know who will be their target and jeez, it's really disappointing for them which for them, it's kinda easy to scam people, scam their hard earned money.

Nowadays, there a lot of scams that are disguised as a platform, business, etc. I dunno maybe because of hunger or greed that's why they do that. During pandemic, sad to say but there are also a lot of people that have been scammed due to lack of knowledge.  We should be responsible for our loss because we should check first every single detail if ever that some of these people try to trick us.

Greed is one of the reason why many people find a way just to scam money or easy money by doing those things. I know you have good intention to warn people with these ways to cheat or abuse the system but by doing so you should follow the suggestions above by providing the source of the article you have posted in here.

They're barely substantial in the eyes of all moderators and some campaign managers. You get an incentive to do these 'easy posts' because all you have to do is just write in a search engine some key words related to cryptocurrency, and then you can find an article to republish and link at the bottom of your thread.

You can't say it doesn't bring out some discussion, but at the same time you don't want to reward such lazy thread-bearing behavior.

I know you tried to warn people OP but try to put in an effort in your posts. Not just a matter of copy-paste and then include a source link. You could get different scam tactics from different sources and then compile them into one huge list. That would have much better than what you just posted.

If any Newbie is following here, this is a much more elaborate and informative list: List of (un)known methods scammers user to scam users with honorable mention by @Royse777

The most common scam as per my understanding is GIVEAWAY scam. People easily fall into such scam which is evident by the amount of Bitcoin found in the wallet of the Twitter Scam.

It is also very hard to stop such scams as they are hard to track and can pop up on any social networking site. Youtube is one of the best example everyday there is one such GIVEAWAY scam on that platform.

Thanks for the wonderful and informative post and try to use less images next time onwards.

Yeah, I think it would be better if he would input his own thoughts as well and not merely post those from the original article. Or better yet, he could look for another related articles, and then sum them up using the common points using his own words. But of course, giving credit to the sources in the end of the discussion. You know, just like a small research in a topic so that it won't be merely copy-pasted  Just a suggestion, though.

First i applaud you for your vital points,but the colours used in this text is too harsh to sight,because personally I find it difficult to view the message well,please next time minimize the rate of painting work so that people like us can read it.
Thanks.

This will not count as substantial posts for OP because it is just an article being copied and paste.

Anyway, I think OP just wanted to share this especially to the new comers here. However, I do not really know the statistics nowadays of the number of newbie registered in the forum per day. I think it is already low in numbers of new registered bct accounts.

Somehow OP's post is informative but I guess it is better to get things simplified through a list form and then for more info the link or site of the blog must be provided in that post.

Hello, Its not good to quote everything.

I dont like some posted article link without any discussion or content on the side of OP. This maybe not plagiarize but since there is no rule for this, it has been a habit for some to do it and obviously they are aiming for signature post count.

OP why you not mentioned the really most common ones like thr usage of fake airdrop and giveaway thru social media such as Twitter and Youtube. I seen dozen of it on scam section.

It's not about plagiarism, really. It's about the post quality. If you just republish an article on the forum, not really adding that much to it (usually, users post one/two sentences if that), then should we not consider the value that the thread gives exclusive of the article contents? If you look at the post at what the user brought, then you have their couple words and the fact that they found an article to share.

That's what I want to concentrate on stopping.

With a source, OP is fine from plagiarism. I don't think the forum is too strict and requires people have to leave initial sources to not be considered as plagiarism and get account restrictions (perma bans for this rule break). It is a shame that I don't spend my time to investigate whether the article I read is initial one and where the initial one is published. If it has some good points for me, it is good. If I want to share those points, share them with source link.

Unfortunately, there is another accusation on OP: Using Automated Translation Tool to Post on English Boards, is it Allowed?. This rule break does not cause perma ban AFAIK.

Their source differs from the original. Ironically, they translated an already-translated article.

I think this is fine, but the problem is that we're just seeing users post articles and then link them to count as substantial posts. I don't like that.

Too bad this content is plagiarized from here https://3commas.io/blog/common-types-of-crypto-scam.

In this topic, we'll dive into the most common types of scams in the cryptocurrency market, and hopefully, this will protect our readers from unwanted risks.


1- Lack of responsibility
One of the common types of fraud in the cryptocurrency market is the result of negligence. Often this happens due to the low level of responsibility and the lack of strict regulation by the authorities. Although the freedom afforded to entrepreneurs allows them to realize the most daring ideas, it also increases the risk of ignoring business essentials such as control and security.
The most famous example of criminal negligence in the crypto industry is the case of Mt. Gox, the platform, is popular in its first market start. However, the lack of knowledge of central finance majors, along with attachments, resulted in the loss of 650,000 BTC case-to-millions of dollars in debt and criminal prosecution of the podium Mark Karbilis. The image appears in the image that appears in the image.

SIM card swa
SIM card replacement is a popular way to gain access to your valuable encrypted accounts, since most security checks, like email and two-factor authentication, are associated with a mobile phone number.

Thus, on November 14, 2019, the Massachusetts County Courthouse convicted fraudsters who managed to steal more than $ 550,000 of encrypted business accounts by transferring a mobile phone number through the operator from a “broken / lost” SIM card to their newly created account. The victims of the attackers were major cryptocurrency traders and the Bitcoin ATM network.

Bounzi Enterprises
Good old-fashioned investment scams, which enrich large investors at the expense of new users, regularly appear in the cryptocurrency market and are very popular, especially in Asia.
In December 2019, the organizers of the BitClub mining pool were arrested and charged with fraud, for $ 700 million. The attorney general claimed that he invested in the company's shares in exchange for substantial earnings - the company offered to invest in computing power and in mining, and provided investors with false information about mining income and an unprecedented and promising income.


Falsification of reports
On June 19, 2020, the US Securities and Exchange Commission (SEC) froze the assets of a private fund investing in digital currencies, which offered investors shares in the company. To attract new investors, the fund falsified financial statements and audit documents, indicating deeply inflated profits. For example, they reported profits of 100.77% and 92.9% for the third and fourth quarter of 2019 rather than admitting that they had already incurred losses. Investors lost tens of millions of dollars. The Securities and Exchange Commission investigation into this case is still ongoing.

Better to be safe
Yes, the cryptocurrency market is very attractive, but it is not called the "Wild West" for no reason - in the absence of regulation it is the best trap for people looking for ways to enrich themselves quickly, including those who want to get rich at your own expense. The times you least expect. Of course, when choosing a company, platform, portfolio, service, partner or fund, you should give preference to full transparency, a positive reputation, and certain guarantees. However, with strict adherence to security measures, the use of extra precautions, and analysis, the cryptocurrency market is still a unique place in the IT industry, where the ability to make fortune through speculation parallels the potential for making the incredible things happen.

Translated from:
https://www.satoshiat.com/2020/06/crypto-scam-types/