How to Avoid Cryptocurrency Scams

Worried About Crypto Scams?

Cybercriminals are always finding new ways to steal your cryptocurrency. Awareness of the types of scams and what you can do to protect yourself from being scammed are more important than ever. Here are some cryptocurrency scams to watch out for.

No one from Super Currency will send you a direct message. If you receive a message, do not reply back as they’re most likely impersonating us.

Cybercriminals will often pose as well-known person or a company, even creating social media profiles with their pictures. You might even see other users responding to the post or leaving reviews. In reality, these could be bots. The post or message might even be from a friend whose account has been hacked.

The cybercriminals might declare that they’re giving away cryptocurrency. To qualify for the “giveaway,” you have to send them cryptocurrency, and then they will send you back even more. In reality, they will simply take your cryptocurrency and disappear.

fake youtube crypto video

Phishing scam is a cybercrime in which a cybercriminal will contact you by email, text message or telephone posing as a legitimate company to lure you into providing your seed words/recovery phrase or private key of your cryptocurrency wallet.

The cybercriminals will often impersonate an authority figure or company representative.

For example, if you post on a social media platform that you need help with a cryptocurrency, the cybercriminals will reach out to you and pretend to be part of the customer service team. They will ask you to fill out a google doc form or share access to your computer so they can help. Once they get an opportunity, however, they’ll take your information and potentially transfer your cryptocurrency to a wallet they control.

Never, under any circumstance, provide your seed words/recovery phrase or private key of your cryptocurrency wallet.

RED FLAGS:    

  • A social media user is asking you to pay for something using cryptocurrency
  • The advertisement or post has many enthusiastic reviews

beware of fake emails

Investment or business opportunity scams often begin with an unsolicited offer, typically “once in a lifetime” offering high returns on your cryptocurrency assets by giving it to them to invest. The scammers will tell you to visit a fraudulent website to learn more about the potential opportunity. Once you’re on their website, you’re encouraged to begin investing. They’ll set up what they claim is an investment account for your cryptocurrency assets, once you transfer your cryptocurrency to them you will not see your cryptocurrency again.

Before you invest always check if the company or person is registered or licensed to provide investment services and activities. Be on the lookout for spelling mistakes and grammatical errors, search the name of the company or person with “review” or “scam” to see what other people have reported.

RED FLAGS:

  • Guarantees you will get rich quick
  • The offer seems too good to be true

Beware of investment scammers

Cybercriminals create imposter websites and fake apps, complete with names that are nearly identical to well-known and trusted cryptocurrency services. Once you visit these imposter websites or download these fake apps, you will end up sending your cryptocurrencies directly to the cybercriminals wallet.

If you mistake these imposter websites and fake apps for the real thing and enter your information, the scammers may be able to steal your cryptocurrency.

There are some red flags you can watch for before downloading cryptocurrency apps to ensure they’re legit.

RED FLAGS:  

  • Inauthentic branding
  • Misspellings in the app name or description

Beware of fake apps and websites

Romance scams pull on victims heartstrings by way of social engineering tactics, instead of finding romance, many find a scammer trying to trick them into sending cryptocurrency. Scammers play the part of an online love interest and gain a victim’s trust to a degree that they’ll ask the victim to send cryptocurrency to them.

Scammers will often say they’re, living in a different country to you, In the military or working on an oil rig and need cryptocurrency to:

  • Pay for travel expenses, such as plane tickets or visa charges, so the person can come and meet you
  • Pay for a visa to come and meet you
  • Pay for medical expenses, either for themselves or a sick or injured relative
  • pay off gambling debts
  • Pay customs fees to retrieve something

Once the victim sends over the cryptocurrency, the cybercriminal pockets the funds and runs. In some cases, the scammers may ask for more (romance scams can be dragged out for months or years) before they stop responding. Never send cryptocurrency to a sweetheart you’ve never met in person, no matter how much you trust them or believe their story.

If you suspect a romance scam:

  • Stop communicating with the person immediately, report their profile as ‘fake’ to the dating or social media site they first approached you on
  • Talk to someone you trust, and pay attention if your friends or family say they’re concerned about your new love interest
  • Do a search for the type of job the person has to see if other people have heard similar stories. For example, you could do a search for “Army scammer” or “oil rig scammer”

RED FLAGS:

  • A person asks you for cryptocurrency but you’ve never met in person
  • Urgent requests
  • They’ll only share photos and speak to you on the phone – never on video

Beware of romance scams

One of the oldest scamming approaches in the book, some cybercriminals will try to blackmail you with incriminating or embarrassing information that’s either real or entirely made up. For instance, you might receive an email or message that they have compromising videos, pictures, confidential data of you. The scammer will request you pay them in cryptocurrency or else they’ll release it to everyone in your phone or email contact list. They may keep the threat vague, saying that they’ll share “a secret” without naming it specifically.

  • Delete these messages and report the sender to the authorities
  • Whatever you do, DO NOT PAY THE RANSOM!
  • Do not to engage with the scammer
  • If the email or message includes a password you still use then change it immediately

Beware of black mail scams

Employment cryptocurrency scams often begin with an unsolicited job offer that lures victim to a fraudulent website to learn more about the opportunity. The scammer initiates an online interview most often through the following apps: Telegram or WhatsApp.

“You’re hired” the scammer will ask you to pay for training or ask that you need to use your bank account to manage financial transactions. The scammer will deposit fraudulent money in to your bank account, you will be asked to send parts or all of the money in the way of cryptocurrency. This will continue until your bank picks up on the fraudulent deposits and transactions or until you determine this job does not feel quite right.

Before you accept a job offer, and certainly before you pay for one, take these steps to protect yourself from job scams:

  • Look up the company or person with “review” or “scam” to see what other people have reported
  • Do an online search to confirm whether or not the company exists
  • Find the phone number for the company you are applying for and call the company to verify whether or not they are hiring
  • Don’t pay for the promise of a job. Legitimate employers will never ask you to pay to get a job
  • No legitimate employer will deposit money into your bank account and then tell you to send on part or all of the money

RED FLAGS:

  • Unsolicited job offer
  • The offered wage is higher the average wage for that job
  • Emails are sent from Gmail, Yahoo or Outlook
  • You need supply your bank account information
  • You are required to receive money into your bank account and transfer it to unknown persons/companies

Beware of employment scams

Follow a Few Key Rules

Here are a few guidelines that can help protect you:

  • Never share your seed phrases/recovery phrase or private keys with anyone
  • Enable multi-factor authentication
  • Don’t send cryptocurrency to people claiming to work for a government agency or large corporation
  • Ignore anyone who promises to give you free money or says you’re guaranteed to make money on an investment
  • Never take any information at face value
  • Always do your own research before making any financial transactions

If you’re unsure, you can search for the details related to the website, app or cryptocurrency in question by searching the name with “review” or “scam” to see what other people have reported.

How to Report Cryptocurrency Scams

If you’ve fallen victim to a cryptocurrency scam, you can report it to:

  • Local Authorities
  • Action Fraud
  • FTC
  • Commodity Futures Trading Commission (CFTC)
  • U.S. Securities and Exchange Commission (SEC)
  • Cryptocurrency exchange company you used to send the cryptocurrency

You may also want to report the scam to the cryptocurrency project or platform. If you’re approached on a messaging or social media platform, you could also report the person to a group administrator who can ban the user or warn others about the cybercriminals.

How to Avoid Cryptocurrency Scams

Worried About Cryptocurrency Scams?

Cybercriminals are always finding new ways to steal your cryptocurrency. Awareness of the types of scams and what you can do to protect yourself from being scammed are more important than ever. Here are some cryptocurrency scams to watch out for.

No one from Super Currency will send you a direct message. If you receive a message, do not reply back as they’re most likely impersonating us.

Cybercriminals will often pose as well-known person or a company, even creating social media profiles with their pictures. You might even see other users responding to the post or leaving reviews. In reality, these could be bots. The post or message might even be from a friend whose account has been hacked.

The cybercriminals might declare that they’re giving away cryptocurrency. To qualify for the “giveaway,” you have to send them cryptocurrency, and then they will send you back even more. In reality, they will simply take your cryptocurrency and disappear.

fake youtube crypto video  beware of fake giveaways on social media platforms   beware of scam giveaways from hacked social media accounts

Phishing scam is a cybercrime in which a cybercriminal will contact you by email, text message or telephone posing as a legitimate company to lure you into providing your seed words/recovery phrase or private key of your cryptocurrency wallet.

The cybercriminals will often impersonate an authority figure or company representative.

For example, if you post on a social media platform that you need help with a cryptocurrency, the cybercriminals will reach out to you and pretend to be part of the customer service team. They will ask you to fill out a google doc form or share access to your computer so they can help. Once they get an opportunity, however, they’ll take your information and potentially transfer your cryptocurrency to a wallet they control.

Never, under any circumstance, provide your seed words/recovery phrase or private key of your cryptocurrency wallet.

RED FLAGS:    

  • A social media user is asking you to pay for something using cryptocurrency
  • The advertisement or post has many enthusiastic reviews

beware of fake emails   beware of cybercriminals phishing scam

Investment or business opportunity scams often begin with an unsolicited offer, typically “once in a lifetime” offering high returns on your cryptocurrency assets by giving it to them to invest. The scammers will tell you to visit a fraudulent website to learn more about the potential opportunity. Once you’re on their website, you’re encouraged to begin investing. They’ll set up what they claim is an investment account for your cryptocurrency assets, once you transfer your cryptocurrency to them you will not see your cryptocurrency again.

Before you invest always check if the company or person is registered or licensed to provide investment services and activities. Be on the lookout for spelling mistakes and grammatical errors, search the name of the company or person with “review” or “scam” to see what other people have reported.

RED FLAGS:

  • Guarantees you will get rich quick
  • The offer seems too good to be true

Beware of investment scammers

Cybercriminals create imposter websites and fake apps, complete with names that are nearly identical to well-known and trusted cryptocurrency services. Once you visit these imposter websites or download these fake apps, you will end up sending your cryptocurrencies directly to the cybercriminals wallet.

If you mistake these imposter websites and fake apps for the real thing and enter your information, the scammers may be able to steal your cryptocurrency.

There are some red flags you can watch for before downloading cryptocurrency apps to ensure they’re legit.

RED FLAGS:  

  • Inauthentic branding
  • Misspellings in the app name or description

Beware of fake apps and websites  Beware of crypto wallets

Romance scams pull on victims heartstrings by way of social engineering tactics, instead of finding romance, many find a scammer trying to trick them into sending cryptocurrency. Scammers play the part of an online love interest and gain a victim’s trust to a degree that they’ll ask the victim to send cryptocurrency to them.

Scammers will often say they’re, living in a different country to you, In the military or working on an oil rig and need cryptocurrency to:

  • Pay for travel expenses, such as plane tickets or visa charges, so the person can come and meet you
  • Pay for a visa to come and meet you
  • Pay for medical expenses, either for themselves or a sick or injured relative
  • pay off gambling debts
  • Pay customs fees to retrieve something

Once the victim sends over the cryptocurrency, the cybercriminal pockets the funds and runs. In some cases, the scammers may ask for more (romance scams can be dragged out for months or years) before they stop responding. Never send cryptocurrency to a sweetheart you’ve never met in person, no matter how much you trust them or believe their story.

If you suspect a romance scam:

  • Stop communicating with the person immediately, report their profile as ‘fake’ to the dating or social media site they first approached you on
  • Talk to someone you trust, and pay attention if your friends or family say they’re concerned about your new love interest
  • Do a search for the type of job the person has to see if other people have heard similar stories. For example, you could do a search for “Army scammer” or “oil rig scammer”

RED FLAGS:

  • A person asks you for cryptocurrency but you’ve never met in person
  • Urgent requests
  • They’ll only share photos and speak to you on the phone – never on video

Beware of romance scams

One of the oldest scamming approaches in the book, some cybercriminals will try to blackmail you with incriminating or embarrassing information that’s either real or entirely made up. For instance, you might receive an email or message that they have compromising videos, pictures, confidential data of you. The scammer will request you pay them in cryptocurrency or else they’ll release it to everyone in your phone or email contact list. They may keep the threat vague, saying that they’ll share “a secret” without naming it specifically.

  • Delete these messages and report the sender to the authorities
  • Whatever you do, DO NOT PAY THE RANSOM!
  • Do not to engage with the scammer
  • If the email or message includes a password you still use then change it immediately

Beware of black mail scams

Employment cryptocurrency scams often begin with an unsolicited job offer that lures victim to a fraudulent website to learn more about the opportunity. The scammer initiates an online interview most often through the following apps: Telegram or WhatsApp.

“You’re hired” the scammer will ask you to pay for training or ask that you need to use your bank account to manage financial transactions. The scammer will deposit fraudulent money in to your bank account, you will be asked to send parts or all of the money in the way of cryptocurrency. This will continue until your bank picks up on the fraudulent deposits and transactions or until you determine this job does not feel quite right.

Before you accept a job offer, and certainly before you pay for one, take these steps to protect yourself from job scams:

  • Look up the company or person with “review” or “scam” to see what other people have reported
  • Do an online search to confirm whether or not the company exists
  • Find the phone number for the company you are applying for and call the company to verify whether or not they are hiring
  • Don’t pay for the promise of a job. Legitimate employers will never ask you to pay to get a job
  • No legitimate employer will deposit money into your bank account and then tell you to send on part or all of the money

RED FLAGS:

  • Unsolicited job offer
  • The offered wage is higher the average wage for that job
  • Emails are sent from Gmail, Yahoo or Outlook
  • You need supply your bank account information
  • You are required to receive money into your bank account and transfer it to unknown persons/companies

Beware of employment scams

Follow a Few Key Rules

Here are a few guidelines that can help protect you:

  • Never share your seed phrases/recovery phrase or private keys with anyone
  • Enable multi-factor authentication
  • Don’t send cryptocurrency to people claiming to work for a government agency or large corporation
  • Ignore anyone who promises to give you free money or says you’re guaranteed to make money on an investment
  • Never take any information at face value
  • Always do your own research before making any financial transactions

If you’re unsure, you can search for the details related to the website, app or cryptocurrency in question by searching the name with “review” or “scam” to see what other people have reported.

How to Report Cryptocurrency Scams

If you’ve fallen victim to a cryptocurrency scam, you can report it to:

  • Local Authorities
  • Action Fraud
  • FTC
  • Commodity Futures Trading Commission (CFTC)
  • U.S. Securities and Exchange Commission (SEC)
  • Cryptocurrency exchange company you used to send the cryptocurrency

You may also want to report the scam to the cryptocurrency project or platform. If you’re approached on a messaging or social media platform, you could also report the person to a group administrator who can ban the user or warn others about the cybercriminals.