Today we are going to talk about cryptocurrency scams sorts that I have gathered them from different sites including the sites below.

*Have you ever asked your self how does cryptocurrency hacker do his job?

In this essay we are going to cover some of ways that hackers used to use in this field.

Fraudulent gift distribution operations on social media:

Many of scammers depend on social media accounts that they are fake or stolen from other famous people and figures.

Scammers are working with their genius to make offers that promising other people with more cryptocurrency and fake huge amounts of cryptocurrency when they deposit cryptocurrency with them.

They actually working on attracting clients confidence and after the client deposit money they block his account depending on fake policies and other reasons like that.

• After this definition we can learn :

1. Most of the fake offers promise people with unrealistic goals and dreams that are not logical.
2. We must make sure that we are working with real companies that offering real deals then start working with them.
3. Finally don't trust strangers and unrealistic offers on internet because in cryptocurrency world there is not a place for fake dreams that reach out the wealth in just 2 minutes or something just like that.

Methods of fraud involving fattening the victim:

Under this headline we are going to talk about fattening the victim.

This method is the most popular strategy to build confidence with the client so they can steal his cryptocurrency in just a little while.

First they say and offer some good offers like deposit  this amount of cryptocurrency  and we will duplicate it, then they make the amount even bigger and bigger and the client says oh thank you so much I will deposit more to earn more but unfortunately the reality is not the same.

Suddenly, they restrict the client account and steal all his money easily and block him from all the other social media sites that he has contacted through these sites.

In the end he loses all of his money like any other person who has trusted them.

And that happened with my friend but he lost a small amount, around 80 dollars.

• After this definition we can learn:

     1.Don't trust anybody who says that he will make your money duplicate because that's actually with no doubt fake.

     2.Make your mind carefully when and where to spend your money.

     3.Don't be a victim.  

AI-powered deepfake and identity theft scams:

This method is depending on Deepwater AI that makes some of famous people and figures like important people in the cryptocurrency trading platforms like Binance, MetaMask, Coinbase and other public trusted platforms, so they can make fake offers and and contact with the platform clients that have a problem need to solve it as fast as possible.

So these scammers exploit their need for help and steal their accounts by giving them the important information that nobody must have.

They depend highly on AI generated photos, videos and other media.

Like sharing videos about an important figure that explains fake investment plans.

Also, they send emails, whatsapp messages and other media platforms ways to claim that they are relatives or something just like this.

In addition, they send messages like “Congratulations you have won 10000 USDT” (as an example).

• What can we do to be saved?

1. First , avoid any messages claiming that you have won something out of nothing because that's not logical.
2. You have to be aware of using trading platforms.
3. Make sure that the link of the platform is right, not fake because scammers can create websites that look exactly like MetaMask or Binance ... .etc.
4. The golden rule in the cryptocurrency world is “use your mind not your heart” believe me my friend.

Pyramid schemes and Ponzi schemes:

In this section we are going to explain what pyramid schemes and ponzi schemes are, so let's get started.

The pyramid schemes and ponzi schemes are depending on unconscious circle that will breakdown by the time.

First thing is that they take the new users and subscribers funds and subscriptions to cover the old ones that have subscribed since a while on the platform.

• What would we do to protect our crypto?

1. Make sure that the platforms relying on real basics like places where they be. for example, Crypto cloud mining platforms that sell you a computing power to mine cryptocurrency like bitcoin must have huge and hundreds of places where the servers that they claim that they are mining with them.
2. Don't trust low limits of prices on plans that offer hight computing power like 40 TH/S for just ten dollars lifetime as an example. This platforms are fake because they can't give computing power lifetime affording all the electricity and repair fees.
3. The last advice is being honest with our selfs and don't run towards fake websites and accept the fact that there is no way to buy computing power plan under 25-50 dollars.

Conclusion:

This is our first part of our project “Cryptocurrency scams and how to protect yourself from them (for beginners)”

Thank you so much for reading 📚 ❤️

And see you in the next post 📫 😉  and if you are interested in this field please don't forget to follow and support us….

Thank you and be ready for the next part of this project.

Have a nice day ….

Goodbye 👋 ……