Every day, the internet is bombarded with emails, messages, and news claiming that a certain company or token is an upcoming money-maker with huge returns, but it’s not true. A lot of times, scam artists will use online marketing at different times and different places to seem more credible.
Security is no small issue in the digital currency and blockchain industry. With the very nature of crypto, there’s ample opportunity for criminals to come up with an inventive new phishing scam. Today, we will be discussing the most common crypto scams and how to stay safe.
Top 4 most common Crypto Scams:
1) Crypto phishing scams:
One of the most common ways of crypto scamming is a crypto phishing scam. It is one of the favourite weapons of scammers.
Within the cryptocurrency industry, phishing scams target information pertaining to online wallets. Specifically, scammers are much interested in crypto wallet private keys, which are the keys that are required to access funds within the wallet.
In Crypto phishing scams most commonly email and text messages are sent out to potential victims whom the scammers think can get trapped in their trap.
The messages will vary content-wise, but it will always contain a link or a link embedded in a button that will take you to a scammer-controlled website that scammers have created that will ask you to enter private key information and when the hackers get those key information they can easily hack your cryptocurrency that is in your wallet.
2) Rug pull scams:
The rug scam got more popularized in 2021 when the Squid game is launched. Squid raised its value from 1 cent to nearly $2800 in just a few days. Before it crashed to zero those who created the cryptocurrency and were not the affiliates of the TV show( Squid game ) prohibited the investors of the TV show to sell their cryptocurrency.
3) Fake crypto websites:
In this type of scam, the scammers create a website that is the same as a cryptocurrency website. Once you visit those fake websites and deposit some money and buy cryptocurrency, for some time they will let you withdraw your money and after you generate trust on the site they will shut down the site with all funds.
4)Social Media scamming:
Social media scamming can of many ways one of the ways is the scammers will hack some Twitter or Facebook trusted profile and will post some posts like to get free cryptocurrency click on the link below and once you click on you will be redirected to the site that the scammer has created and they will ask for the information that is necessary to get your cryptocurrency from your wallet and once you give all the information they want they will take all your cryptocurrencies from your wallet.
How to Stay Safe from crypto scams:
1)To stay safe from social media scams you get to be aware of the correct social media handle and should not enter any personal information that will help the scammers.
2)Don’t invest in the newly launched cryptocurrencies always do research and invest in the cryptocurrency that you think is worth it, safe and secure.
3)Do not open emails from unverified sources and try to bookmark the sites you use to trade crypto to avoid scams.
4)To stay away from giveaway scams be cautious and always ask a question to yourself before giving your personal information or before clicking on the giveaway link that “Is it good to be true” if the answer is yes it might be a scam because a random person will not give his/her cryptocurrency for free to anyone.
5)You should always purchase cryptocurrencies that are popular, reliable and trustworthy.
We hope we would have helped you to get the top 4 Most Common Crypto Scams & How to Stay Safe from them. Be aware Be safe. Do you want to get best Finance opinions on which you can invest,online Investment Advisors which can help yo to invest in the right place and if any fraud occurs do you want Assest recovery firm then please follow the this link https://finance-opinions.com/ here you will get all the things you want for investment