Frauds in cryptocurrencies is been going around most of us. And we have seen many people loosing their cryptos to scams. According to a report, Americans alone have lost more than $80 million in cryptocurrency investment scams since October 2020.
These scammers impersonate guys like Elon Musk and steal people's cryptocurrencies. You will find many examples of people being scammed for cryptos. And this is the reason I am writing about this crucial topic just give you an idea of how people are loosing their hard earned cryptos to the hand of scammers.
Whenever you see a message on Twitter or Facebook etc sending you a link or a wallet address telling you to send some Bitcoin and receive 10X etc of it in return or impersonating guys like Elon Musk tweeting about giving away free bitcoins. Read the story of Sebastian who loses $5,60,000 in bitcoin scam in result of a fake Elon Musk tweet.
Here is that fake Elon Musk tweet.
It should be intruding to you. Don't ever go for the transaction, nor click on the link because this can make your account get hacked.
Some frauds are in the form of MLM, telling you to invest some amount of money and also refer your friends and family to gain more rewards. Again this should be intruding to you because you can not just invest or tell others to invest without even doing a good hand research about it.
Another scam could be your friend or someone else telling you trying hard to convince you about trading on your behalf on Binance or some other trading platform. But you should remember that this is not his money, a wrong move from him can cost you. And this is what happened in real with two of my friends. One of my friend was convinced by my other friend and he then invested with him wanting him to trade for him and in the end they loss all the money.
In crypto world, you should be incharge of your cryptocurrency solely. Don't even think of asking someone to come take my crypto and make some profit for me.