Recently there was a huge scam in which Twitter accounts of prominent figures like President Barack Obama, Joe Biden, Elon Musk, Bill Gates, Kanye West, and Michael Bloomberg getting hacked. It was actually a type of cryptocurrency scams where fake tweets were put on their verified accounts to reach a larger audience.
In the fake tweet, followers were asked to send money to a particular address using Bitcoin and in return, they would get twice the amount. This type of cryptocurrency scam is quite common and you should be aware of all the fraudulent methods scammers resort to for tricking unsuspecting people. This is why I have compiled various different ways on how to avoid cryptocurrency scams:
Fake Crypto Investment PlatformsGiveaways Scams Via Tweets & Other Social Media Updates
Scamming Emails, Phishing, Technical Support, Impersonation Scams
Investment Scams
Loader or Load-up Scams
Initial Coin Offerings (ICOs)
Unregulated Brokers & Exchanges
Bitcoin Trading Systems
Mining Scams
Pump and Dump schemes
Let’s discuss these in detail:
How To Avoid Cryptocurrency Scams?
1. Fake Crypto Investment Platforms
There is a large number of fake websites or mobile apps that have been created to resemble authentic crypto investment companies. But there are several ways to identify a fake website. For instance, you should always look for the small lock icon indicating security near the URL bar and avoid sites that have no “https” in the site address. Sometimes, attackers create a fake URL by replacing one letter of the address. For instance, they can replace a zero in it instead of the letter ‘o’ which can lead you to a fake site.
Another common method used by hackers is to creat ..
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