Yes indeed you can get scammed on cryptocurrency and the number of scams has increased rapidly. Cryptocurrency-related scams have skyrocketed to losses that are more than 80 million US dollars. In addition to this as of March 2021, almost 7000 people have been victims of cryptocurrency-related scams. Now let’s talk about cryptocurrency scams and the two main categories of cryptocurrency-related scams.
The Many Faces of Cryptocurrency Scams I Have Come Across
This includes firstly all types of initiatives regarding obtaining access into the digital wallet or obtaining any important credentials. This mainly includes scammers trying to gain access into the wallet and gaining access to all types of private information which includes security codes, passwords, and other types of financial information which will allow them to easily hack into your wallet.
The second category is primarily scamming which involves transferring cryptocurrency directly to scammers which can easily be done through impersonating a celebrity or a crypto company, fraudulent investment opportunities, and lastly imposter websites.
There are several types of cryptocurrency scams which include social engineering scams which include romance scams, imposter or giveaway scams, phishing scams, blackmail or extortion scams, investment or business opportunity scams, and lastly cloud mining scams.
There are countless types of scams and the rate of scamming has drastically increased over the years mainly due to scammers and fraudsters coming up with new techniques to scam and manipulate people and take advantage of them. So beware of all such scammers and such fraudulent business opportunities.
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