Even well seasoned Crypto Investors can be scammed. In this article I am focusing on "Giveaway" scams.
What's Happened?
The latest trick I have read about is scammers using "fake news" websites. And using some credible industry news.
In this case, we all know that Elon Musk has been tweeting, investing in Bitcoin, promoting Dogecoin, selling Bitcoin, making crypto prices drop, etc
So it isn't completely unbelievable that Elon Musk has said that he wants to "give away" some of the profit from his recent transaction earnings.
But a "send me some money, and I'll send it back to you but doubled" message is a little suspect. However it has tricked some people. And with rather large amounts for the people involved.
And it isn't just Elon Musk's name that is being used. Other famous names have been used to scam people in the past, including Bill Gates, Kim Kardashian-West, Michael Bloomberg, Richard Branson.
How Much?
In a recent BBC news article a teacher / self confesed Crypto investor lost £9,000 to this scam. This was her savings for a new house.
Previously in March 2021 a man lost £400,000 to a similar bitcoin scam originating from tweets from a fake "Elon Musk" account.
Over 10,000 people in 2020 have fallen foul to "giveaway" bitcoin scams losing over $15m.
And in 2021 the trend looks set to continue. We are not even mid-year and over 5,500 people / $18m has been scammed. This will outflank the 2020 numbers if it continues.
Keeping Safe?
The golden rule "If it looks too good to be true, it is unlikely to be true".
And never put all your eggs (or coins) in one basket. If you are not sure then only invest what you can afford to lose completely.
BE SAFE, BE VIGILANT
https://www.bbc.co.uk/news/uk-england-sussex-57102038
https://www.bbc.co.uk/news/technology-56402378
