Knowledge is Power: How To Stay Protected From Crypto Scams
Crypto scams are increasingly prevalent as the surge in DeFi and NFT projects increases. From Discord server bots to imitation NFT projects on OpenSea, new ways of stealing cryptocurrencies through deceit continue to crop up. Most in the space are familiar with a typical rug pull scenario in which many invest in a new blockchain project, only for the project to later disappear and the owner to make off with all the investors’ funds. Others may have fallen victim to “pump and dump” schemes, in which wealthy holders of vast amounts of a cryptocurrency (a.k.a. “whales”) have been known to buy....
Related News
The Department of the Interior of Uruguay is taking steps to warn users about the danger they face when investing in certain crypto projects that could be scams. The campaign is called “Fake Coins: Cryptocurrency Scams” and seeks to educate the population about the most common kinds of crypto scams.
Uruguay Educates on Crypto-Related Scams
More and more government bodies are becoming aware of how some parties are using crypto to execute different kinds of scams, and also more of these institutions are working to educate citizens on this fact. The Ministry of the....
Apple co-founder Steve Wozniak has lost his lawsuit against Youtube over bitcoin giveaway scams using his name and image. The judge reportedly said that “Youtube and its parent, Google LLC, are protected by the federal law that shields internet platforms from responsibility for content posted by users.” Bitcoin Giveaway Scams Continue on Youtube as Steve Wozniak Loses Lawsuit Steve Wozniak has lost his lawsuit against Youtube over bitcoin giveaway scams on the video-sharing platform fraudulently using his name and image. Bloomberg conveyed that Judge Sunil R. Kulkarni of the....
Crypto scams are a pervasive problem that the industry has had a hard time shaking off. Even when the scams get popular enough that investors no longer fall for them, the scammers come out with even more sophisticated versions of their scams to lure unsuspecting investors. The use of prominent figures such as Elon Musk […]
Should you be worried about the previous or the next Bitcoin Scam? Bitcoin adoption is seeing a rapid surge across the world in recent months. The latest report of Juniper Research's forecast on the Bitcoin community hitting 5 million users by end of 2019 doesn't come as a surprise. As its adoption grows, the number of people trying to scam the users of their Bitcoin also grows. Using Common Sense against Bitcoin Scams. No, you don't have to be worried about Bitcoin scams. All you have to do is, ask a few questions and do some basic research to make sure that you have covered all your....
Scams happen all the time in the crypto space but recently, the scammers have had to go through more sophisticated channels to make their scams more believable since more people are aware of how the more popular scams are carried out. This was the case in a recent crypto scheme that saw CoinMarketCap involved through […]