Saturday, 25 June 2022
Recognizing Crypto Scams And Fraudulent Activities: An Informative Guide Shutterstock

Recognizing Crypto Scams And Fraudulent Activities: An Informative Guide

Written by  The Dubrovnik Times Feb 25, 2022

You have seen it before, a site that promises you to give double to what small you have invested in Crypto. 


 

The site looks legitimate with all the happy customer testimonials, sure profit promises, and easy-to-use dashboards that make it believe you are using an original trading platform.


 

These websites make big promises, attract customers, and convince them to invest in their platforms. Unfortunately, after the investment is made, you do not get any confirmation about the number of Cryptocurrencies you have bought.


 

And when you try to reach their customer service, you are welcomed with no replies whatsoever.


 

Only then do you realize that you have fallen victim to a scam.


 

While the Crypto trading market is comparatively new, it has certainly produced more millionaires than any other industry. However, the same boon has become a nightmare for the new investors.


 

Today, we will discuss the Crypto scams and fraudulent activities and try to look into solutions that can help you avoid falling victim to such scams.

Common Cryptocurrency Scams & How To Avoid Them

As you become more involved in the new monetary mechanism known as Cryptocurrency, it doesn’t take long to recognize the risk involved in every transaction. 


 

It has only been a decade since the first cryptocurrency was introduced in the market. Since then, it has become a money-earning machine. Naturally, this attracted the attention of hackers and fraudulent activists. 


 

When investing in cryptocurrency from a third-party platform, you must ensure that a real person is sitting behind the company. If the trading platform you are using lacks the following, think through your decisions even more carefully.

1. Imposter website

It is quite common for even experts to not realize the difference between a fake website and a real website. After all, the fakes are created exactly like the original websites.


 

While surfing the internet, you will find hundreds of trading platforms. You might think that all are legit with real purpose. However, that is not the case. Among the hundreds of websites, almost half of them are fake. 


 

So, to avoid falling victim to these fake websites, always visit a website with a lock. Or simply visit tesler trading.

2. Scamming Emails

Emails are one of the main gateways for fraudulent users to convince you to click unknown links. Hackers will send you an email with links redirecting you to a trading platform. These trading platforms look real like the original platform. 


 

Before making a transaction on such a website, you must conduct research and ensure that the email is authentic. If you cannot find relevant data on the trading platform of the email id that doesn’t look authentic, chances are a hacker is targeting you.

3. Social Engineering

Social engineering has become a new method for conducting Crypto scams. People with rich social media platforms and followers will reach out to you in the hopes of convincing you to invest in Cryptocurrencies.


 

They will present themselves as market experts and Crypto investors themselves. In addition, they will flaunt their wealth earned from Cryptocurrency. This will make you feel like investing in Cryptocurrency.


 

Once you are convinced to invest, they act as your guide or teacher. But, what they do is make you transfer money into their bank account.

4. Fake Mobile Applications

Mobile applications are the new norm. No matter what services you use, there is a mobile application. The same thing can be said for Crypto trading. While mobile applications are designed to make things easier, fraudulent activists have found ways to use this medium.


 

While the stakeholders can find these fake apps easily, there are times when fake apps pass the test, and thousands of people fall victim to it.

When In Doubt, Reach Out!

The first step before you start using a platform for investment. You must reach out to knowledgeable people and take their quotes. Talking will help you better understand the current scenario and will help you make better decisions.


 

We know that you might find this piece of information too short for your taste. If you are interested in knowing everything we know, reach out to us. We do like holding valuable conversations.


 

The Voice of Dubrovnik

THE VOICE OF DUBROVNIK


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