Avoid These Cryptocurrency Scams for the Safeguard of Your Digital Assets

Crypto investors often encounter many scammers who try to rob them. And most investors lost millions in many crypto scams. So, all crypto investors must know about the scams and frauds that happen in their crypto career so that they can avoid those scams.

Disruptive Crypto-Investment Proposals

It is a common fraud that happens most frequently with crypto investors. I mean, almost all investors have encountered this scammer at least once in their careers. Now, here the con artist will give you various proposals so that you can invest in his or her website, which is not legit, real, or thrust-worthy. Those scammers will tell you about celebrity endorsement and investment. At the same time, they will also tell you that they will give you high returns and other benefits that other platforms don’t provide. And if you believe them and invest in their site, like 1 BTC payment, you won’t find them anymore. So, if you encounter one of these scammers, then you should call the law enforcement team and notify them about that.

Fake App, Websites, and Social Medias

Almost everyone nowadays uses social media platforms. Currently, over 3 million people use various social media platforms worldwide. At the same time, more than 250 million apps have been downloaded by people worldwide, and more than 1.88 billion web pages are viewed. So, you can think about people using the internet insanely. However, scammers are also using these platforms so that they can fraud people. What scammers do is create fake apps, websites, and social media pages, and they also run various advertisements so that you think those are legit and fall into their trap. At the same time, scammers will approach you and convince you with their lies so that you invest in their platform in the form of cryptocurrency. If you are suspicious about them, they will give you refunds and gifts and also share their personal life, which is not real, so that you can trust them. Don’t fall into their trap. If you do, you will lose all your money.

DeFi Cryptocurrency Rug Pull

This scam usually happens when an investor is attracted to a DeFi scheme. Now, some shady developers create such schemes and convince investors that they have a bright future in crypto and this scheme. At the same time, they also promise high returns and many other benefits. But when an investor invests in their fund, they just cash out all the funds, cancel the platform, and flee. And since you are paying in the form of crypto, you don’t have any control over the currency and who is the other party to whom you transferred your fund. You won’t be able to find him and recover your money.

SIM Swapping Scams

Here a scammer will find your email, cell number, and address from social media platforms like Facebook or Instagram. Then they will call the wireless service provider and pretend like you so that they can relocate the number of a new SIM. This way, they will have access to your SIM card, and they will be able to access your wallet and steal your cryptocurrencies and other digital assets.

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