There are several types of scam in cryptocurrency. What is a scam in cryptocurrency and what should you pay attention to in order not to become a victim of fraudsters?
Often such sites create the illusion that your investments bring income. At the moment when you are trying to take your profit, for example, you are asked to transfer more tokens to the account. As a result, you are left with nothing. Phishing sites and fake mobile applications can be attributed to this type of scam. With the help of such schemes, criminals impersonate someone else (for example, a crypto exchange), gain access to the client’s information or force him to transfer money to his account.
A fairly popular type of scam is to impersonate a celebrity. Which advertises something. Out of $80 million, $2 million is stolen money in this way.
Dating sites and apps
A fairly popular way is to lure money using dating apps. Scammers use them to get acquainted with the user.Then advertise any cryptocurrency to him. The fake soulmate asks to transfer a certain amount of money, which he promises to invest in the proposed project.
The scam can be quite obscene. In this case, scammers launch large crypto projects, which are a financial pyramid. They advertise it to people, promising fabulous benefits. But not at the moment, but after some time. For example, the OneCoin project. OneCoin was a trading service with its own cryptocurrency. To get OneCoin cryptocurrency, it was necessary to buy an educational course. The more expensive the lessons were purchased, the more tokens the client allegedly had to get. It was possible to exchange tokens for euros only through OneCoin’s own exchange. As a result, it turned out that OneCoin did not have a blockchain, that is, the tokens were just a fiction.
Shitcoins in scam
In almost all cases, the task of shitcoins is to earn money from investors. Who have heard about cryptocurrency, but have not checked anything. As a result, such people invest money in virtual currency. Which was originally not working, but it is cheap. Experienced investors help them. They pump up the cost of a certain shitcoin, attracting the attention of newcomers to it. Then they collect all the dividends before the value of the cryptocurrency drops to almost zero.