CRYPTOCURRENCY AND SCAMMING, YING AND YANG
CRYPTOCURRENCY AND SCAMMING, YING AND YANG

By Franklinlee | All-things-Crypto | 16 Feb 2020


 

Two months ago, I had a slight problem with my Trust wallet and I posted the problem on the Trust wallet Telegram group. Under one hour, three different people had messaged me that they were admins from the Trust Wallet group and they needed my pneumonic or seed phrase to help me solve the problem. This was after it was clearly put there as the pinned message on the group that admins will never message you first and will never ask for your seed phrase. Recently about last week i also saw another scam means, they hacked a YouTube page and changed it to the Binance page and put a live feed of the founder of Binance announcing a giveaway. All you had to do was send Eth to an address and you would get double what you sent. Pls don't ever fall for it.

 

If you've been into Cryptocurrency any longer than one month maybe, then you have probably experienced scammers and thieves trying to rob you of your bought or hard-earned Cryptocurrency. They abound in the industry, from projects looking to scam you of your hard earned money telling you to send 1 Eth and you will get 3 Eth back in the next 3 hours😂😂😂 to others looking to use phishing sites to get your passwords and the audacious ones that will chat you up and ask you for your seed phrase under the guise of helping you sort out your problems but are heartless and just want to rekt you of all your earnings.

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The biggest lesson you can learn however is to trust nobody. Anyone can be scammed and anyone can scam you. Blockchain and Cryptocurrency enables Trustlessness so take advantage about it fully, trust nobody and nothing and do your due diligence at all times to avoid sad situations. It is not just a meme you see on Twitter or something to just say, it is the ultimate rule of Cryptocurrency, DO YOUR OWN RESEARCH (DYOR). Always Do your Research and trust nobody and you will honestly be fine.

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Franklinlee
Franklinlee

Crypto enthusiast, collector, money lover.


All-things-Crypto
All-things-Crypto

Everything I have learnt and I'm still learning about Cryptocurrency and Blockchain.

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