Moments of Scammers
Moments Of Scammers
There are many ways in the crypto space that you can find scammers. Scammers use various methods to trick people into giving away their money and personal information. In this segment I like to go over a few of these methods. Scammers use to gain access to your funds and information.
Now let me go through the entire list right now.
False Exchanges
Everyday more and more people are getting into crypto. With that there are many scammers out there who have created fake exchanges. The service they provide create prices and deals that are too good to be true. Such as offering really low prices for Bitcoin. Often these are just a scheme to get you to sign up to some scheme or a way to gather your financial information. In other words be careful and only use businesses that are well known to the community.
Blackmailing
Extortion is what happens when someone of mystery tries to blackmail you by threats to get at your bitcoin. They will often try this by sending your emails that tell. That your computer may have a virus or a remote protocol. Where they randomly email many different people and try to trick you to hand over your coins. Often this method is done using information stolen or random bots are used. The information they used is either stolen or leaked from other sources. So always be on the lookout for your privacy.
Contests
Often scammers will set up various contests. In which they will offer to give free crypto in exchange for a small amount of your money. In which they have a system in which you have to enter all your personal information for the contest. This is just a method for them to get your money for free and also use your personal information for their gain. Always be aware of any situation as this. If the contest seems too good to be true. Avoid. Only do contests offered from registered businesses.
Malware Programs
Another way for scammers to take crypto from people is to use Malware. Always check your address you are sending crypto to a few times. Some of the malware programs will change the sending address many times on the clipboard. Then the money is sent to the scammers address instead of the original one intended. Always be careful with all your transactions. As well be careful of what programs you allow access to on all your devices. Even be advised to use a virus scanner at times too. Might prevent from something bad from happening.
Meeting in Person
Some of the scammers will meet in person. In which you are there to buy crypto from them using your Fiat. As sometimes this happens in local areas if your doing a local exchange. This can be risky if done with someone you do not know. As there is risk they could be giving you fake crypto or if even counterfeit currency. Also there is also risk to getting robbed or even assaulted by the other person. If you are meeting in person. Bring a friend with you, and always meet in public setting too. Otherwise just use peer to peer exchange platforms instead.
Money Of Transfer Fraud
Be careful of emails from strangers who ask you to hold or transfer money for them. Such an example they may say they need you to transfer a large amount of money for them. Since they are in a foreign country of something. They are just trying to set up a phishing scam or just want your personal information. So be careful.
Ponzi and Pyramid Schemes
Be careful of this situation where you are asked to sign up to something. In order to earn better you must get other people to sign up below you. You have to give an upfront deposit to enter the program or scheme that might be in offer. Often you are sold to get into a program like this which you are told of a guaranteed earning from an exchange. More less a case of where previous pay in’s are used to support a future principal from a depositor.
Impersonation of Others
Scammers will often set up social media accounts under someone else’s name. Using names and pictures of people you may know. They will then try to contact you and engage in a conversation with you. They gather the information from that person when they publish content. Then they contact you as that person and try to trick you to hand over money or any information that could be useful to them. Sometimes they will say they are offering a contest or some type of call of action. Some will go all the way and talk to you in a long time just to build up your confidence level. Always be caution with random messages from people you don’t talk to often that all of sudden seem talkative in online chat rooms.
Phishing of Emails
This is when someone sends you emails asking you to do something. They sometimes will pose as your internet provided and asking you to provide your password or contact login details. This could also be an email coming from another important financial service you may use. They will pose as that service. And provide the proper messages that make it sound professional. Sometimes hard to spot the difference.
To keep safe on this. Always double check that service. Even at times call the customer service number right aways and confirm with a real person if that service did in fact send that message. This is a very common scam that happens alot. So be careful
Phishing of Websites
Very similar to the emails. These websites can pose as the real thing. In which you go on them and you provide personal details. Also they may ask you to download a program to make them work. Often this involves getting malware or spyware on to your device. Be mindful at all times of anything you download to your device.
Ransomware
More less this is a type of malware which will block access to your device. In order to get access you are asked to send funds to a specific location. Always be careful when you download something new. As well the team behind a special program that you are installing on to your computer. To remove the malware consult a professional. Never pay the amount asked to get access to your login as it is a scam.
Pump and Dumps
Be careful of this situation. This has happened many times in crypto. Not usually with bitcoin but often with tokens that may be offered by someone else. They will tell you to buy into some type of coin or token they created. In which they claim there will be a generous return. The behind these projects will even tell you when they know the price will peak. Often then someone else involved will drive the price up so the buyer get scared and sell their holdings while someone else profits from that. Be alert of this scenario at all times.
Scam Coins
Always be careful with new Altcoins and ICOs
Some of these could be scams and asking you to buy a private sale. These can be in a form a new website as well chat communities. Presented in way to get people excited and not want to miss out and an opportunity. Sometimes these scam coins can be pump and dumps as well exit scams. Be careful as sometimes these people will use legit names like Bitcoin or blockchain to trick people thinking is the real thing. Always be on a lookout for this type of situation
Overall these are the many methods scammer can use to trick you into parting with your crypto or regular money at anytime. Sometimes the methods are use just to retrieve your personal information to be used for other things.
One must always be careful in the crypto space as we are still in the wild west moment of it all.
If you have any more concerns on this let me know, I love to hear your feedback.
Thanks again.
Like to Give My Thanks to This Link For the original writing.
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