Crypto Scammers Are Getting More Creative 🤯
Scammers targeting the cryptocurrency sector are becoming more creative as adoption increases. US regulators are warning of a new category of cryptocurrency scams in which fraudsters are targeting cryptocurrency investors posing as professors and academics.
How Scammers Are Targeting Investors
- Social networking platforms such as Facebook, WhatsApp, and Telegram are exploited by cybercriminals to find and communicate with potential victims and hack into their encrypted resources using sophisticated methods.
- Scammers pose as professors and heads of business schools and wealth institutions, contacting people offering courses related to the cryptocurrency sector.
- They lure victims into WhatsApp or Telegram groups, offering them crypto tokens to “deposit” on platforms promoted by the scammers, promising high profits.
- Some companies offer informal credit and loan facilities through messaging apps to help victims with their planned investments in high-value cryptocurrencies, NFTs, or altcoins.
- In some cases, fraudsters pose as other “real investors” in WhatsApp and Telegram groups used to communicate with victims.
How to Protect Yourself
It’s important to be cautious and protect yourself from these scams. Here are some tips:
- Verify the legitimacy of any cryptocurrency-related website or app.
- Be wary of unsolicited offers, especially those that promise high returns.
- Do your research before investing in any cryptocurrency.
- Don’t share your private keys or passwords with anyone.
- If something feels too good to be true, it probably is.
The US Federal Trade Commission (FTC) has also warned the crypto industry about the rise in romance scams, where scammers lure people into investing in cryptocurrencies by pretending to be looking for a romantic relationship. Be aware of this type of scam and avoid investing in cryptocurrencies with people you meet online.
Staying informed and being cautious is key to protecting yourself from cryptocurrency scams. Remember, if something seems too good to be true, it probably is.
