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Types of Crypto Scams
Social Engineering Scams - Scammers utilize psychological manipulation and deception to get control of key information pertaining to user accounts. These scams lead victims to believe they are interacting with a reliable institution, such as a government agency, a well-known company, tech support, a community member, a work colleague, or a friend.
Imposter and Giveaway Scams - Scammers try to act as celebrities, businesses, or crypto influencers. In a giveaway scam, scammers promise to equal or multiply the cryptocurrencies sent to them in order to attract the attention of potential victims.
Romance Scams - Scammers frequently utilize dating websites to trick naïve victims into believing they are in a genuine long-term relationship. When confidence is established, discussions frequently shift to lucrative cryptocurrency opportunities and the eventual transfer of coins or account authentication credentials.
Phishing Scams - Scammers send an email with links that take recipients to a specially designed website where they are asked to enter private keys. When hackers have this information, they are able to steal the cryptocurrency.
Blackmail and Extortion Scams - Scammers use blackmail emails claiming to have records of the user's visits to adult sites or other unlawful web pages and threatening to disclose them unless the user shares private keys or sends crypto to the scammer.
Rug Pulls - Project members raise funds or cryptocurrency to finance a project, but then abruptly withdraw all cash and disappear. The project is canceled and the investors lose everything they contributed.
ICO (Initial Coin Offerings) Scams - Scammers build bogus ICO websites and direct customers to deposit crypto into a compromised wallet.
Cloud Mining Scams - Platforms will market to retail investors in order to entice them to put money down in order to assure a continuing stream of mining power and reward. These platforms do not really own the hash rate they claim to and will not deliver the rewards after your down payment. While cloud mining is not necessarily a scam, due diligence on the platform is essential before investing.
Investment Opportunity Scams - Scammers use misleading websites to promise so-called guaranteed returns, which require users to commit big quantities of money in order to receive even higher guaranteed returns.