• BEWARE OF SCAMMERS, ITS YOUR DUTY AND RESPONSIBLITY TO SAFE GUARD YOUR ASSETS.

We hear of numerous scams every year, people are loosing millions to scammers everyday in crypto and other fields, which is so disheartening and discourages new crypto investors.

There are various way you can loose your crypto.

1. Sending crypto to wrong wallet address

Due to the irreversible nature of cryptocurrency protocols, they can neither be cancelled nor reversed once initiated. In case you end up sending fund to wrong person, You may have to contact them and request for a refund. if you don`t know who the address belongs to, you can`t do anything else to retrieve the funds.

2. Forgetting their wallet password and private keys/seed phrase. 

If private key is lost, there is no way to either recover it, so recovery a crypto wallet without the seed phrase is generally impossible.

HERE ARE THE 3 BIGGEST CRYPTO SCAM OF ALL TIME.

1. ONE COIN SCAM

The altcoin was founded in 2014 by Dr Ruja ignatova and her husband Daniel Dabek. Promoted as Cryptocurrency by companies with offices in Bulgaria called Onecoin LTD . They sold educational packets about financial education that allowed owners to mine Onecoin. The coin of the packets ranges from $100 to $100,000 with different levels of membership which allow buyers to buy even more amount of the tokens. The Authorities shut down the scam in 2017 and it's learders were arrested and the founder disappeared .

2. Thodex 

The founder was Faruk faith Ozer, Launched in 2017 and it was a Turkish Crypto Exchange. It was later shut down in April 2021 due to emergency maintenance. The maintenance lasted for five days and the platform was shut down. Ozer fled to Turkey with over 2billon from more than 100,000 investors 

3. BITCONNECT.

BITCONNECT sacammed an estimated $4billion in a multi level marketing led Ponzi scheme, attracting investors  with claims of having an unbeatable trading algorithm that never even existed. 

I lost over $3000 on this scam.

Stay safe.