Rise of Cryptocurrency Scams in 2022

Once there is money there are scams that can be done with it. Cryptocurrency scams have been the latest method of fraud in recent years. Since the advent of this virtual money, the evil human mind has not stopped thinking of ways to defraud them and get rich overnight. In the last few years, the victims of virtual money scams have doubled or even tripled. Therefore, we recommend that you be as careful as possible with your savings so that you do not end up in a situation of being deceived and losing your money.

In today’s article, we will show you a few ways that today’s fraudsters use, and what you need to do to protect yourself from them.

One of the most common forms of fraud is of course investing in a new token. Usually the developers of cryptocurrency projects, ie the creation of a new token, try in every possible way to get people interested in investing money in it. They try to promote this new project in front of other people in various ways, so they use social networks in their deception or in their deception they include other people who will be in charge of finding as many people as possible who will be interested in making their investment in the project. This cyber fraud ends with the fact that when enough people direct their investments to the new token, the criminals suddenly leave the project and withdraw all the invested funds from the users.

So how best to protect yourself and not fall victim to such a crime?

Source: europeanbusinessreview.com

The best advice I can give you is to not trust anyone. Even if it’s your best friend if he guarantees you that the new token he wants to invest in, and at the same time makes you do the same, that it’s a new legitimate cryptocurrency that will soon become the new bitcoin, the best it would be to listen to your intuition and not do it. Because at first, you are not completely sure that this new token is safe, you have almost no information about it. And second, if it’s too good to be true, then it probably is. Before embarking on any gamble with the savings you have, first, check what it is about. The easiest way to check the authenticity of the new virtual currency you want to invest in is to check its history online. Almost all the necessary information is available on the Internet today, so if someone has a bad experience with the token of the same name, then you will easily find these testimonials online. The experience of other people will help you a lot in protecting yourself and preserving your assets.

A second way you can protect yourself is not to share the private key of your wallet with anyone. The crypto wallet is yours alone and you do not need to share the key with anyone, and our recommendation would be to store it offline somewhere. And it would be a good idea to include more authentication factors. Now at least each of us has access to a smartphone through which we can log in to our crypto wallet. So to protect yourself, you can additionally enable authentication by scanning the face or scanning the fingerprint. However, these two factors are not enough, and as an additional way of authentication, the arrival of a code via SMS on your mobile device may be included. Combining multiple factors can further protect you from cybercriminals, and make your crypto wallet safe to use.

Source: rollingstone.com

A third recommendation that I hope you will try to follow is to avoid suspicious emails and to avoid suspicious applications that you can find for download in the app store of your smartphone.

You have probably received at least a dozen emails so far from a suspicious company offering to invest in cryptocurrencies together. Someone likely wants to trick you through these sent emails. Our advice would be not to reply to them, because in most cases there are fraudsters behind the email who just want to take your money and harm you. Feel free to transfer this email to the junk folder or delete it immediately.

And in the case of smartphone applications, those that are fake are immediately detected by the users and they are deleted from the store. However, new fake applications appear every day that take time to find out if they are real or not. We would therefore recommend that you follow the ratings they receive from users, and read the comments that are left. If you notice that in most of the comments the application receives negative reviews and very low ratings, then we recommend that you turn away from it because it may be a fake application behind which cybercriminals are hiding.

I hope that after this text you will understand how serious the problem is when it comes to cybercrime and that you will take some additional measures to help protect yourself and your virtual assets. We know that the world is currently in a phase of recovery from the Corona crisis, which is why many countries are struggling with inflation at the moment and everyone is looking for a way to get money the easiest and fastest way, but they do not care if these actions will hurt anyone else.

Source: packetlabs.net

That’s why we recommend that you keep an eye on cryptocurrency news as well as any information from the world of cryptocurrencies.

To keep up to date with all the happenings in the world of virtual money, we warmly recommend you to follow the news that is published daily on pz-news.de. One of the most-read articles in the last month is the one with the tips on how to avoid taxes with bitcoin. So do not miss any good news, and run to the website to check out all the current topics.

Be extremely careful, and if you notice any token fraud, it would be best to download something and report it to the appropriate services. Doing so may prevent other people from falling victim to fraudsters and reduce cryptocurrency crime rates.