Top cryptocurrency scams to avoid [Vídeo]

cryptojacking bitcoin
cryptojacking bitcoin
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Cryptojacking-Bitcoin

There is something fundamental that should not be forgotten when trading crypto: it’s about money. It is the main reason why people decide to invest in Bitcoin or other cryptos and as it happens in everything related to money, it is also the main reason that motivates all kinds of deceptions and scams. In today’s video, we tell you which are the most common scams so you can spot them.

From traditional scams, such as pyramid schemes, Ponzi or phishing techniques, to highly sophisticated malware, the ways in which cybercriminals can get hold of other people’s cryptocurrencies are many. Some of them are not even illegal, since require the victim to participate voluntarily, like the pump and dump groups we talked about in the video.

The very nature of cryptocurrencies – decentralized and, for the most part, anonymous – makes it impossible, or at least very difficult, to report a scam. If a computer has been the target of, for example, a ransomware attack and the ransom has been requested in cryptocurrencies, once they have been sent to an anonymous wallet, the trail ends there, so the possibility of recovering the money from return is non-existent.

The spread of cryptocurrencies among the general public and their exclusively digital use have made them one of the most attacked targets on the network. The possibility of laundering stolen cryptos is much greater than if it were traditional money, so it is not surprising that there are many ways to separate cryptos from their owners. This is intended to remedy with greater regulation, but state intervention in cryptocurrencies does not always work.

The basic rule of thumb to avoid scams is to think that if something is too good to be true, it probably is not true, so in the face of promises of exaggerated investment returns and, ultimately, free money, it is best to flee. Remember, before risking money, even if it is a small amount, do as much research as you can.

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