Cryptocurrency scams: the most powerful of 2021

The hacks and scams that left many traders surprised and without investment.

This is not something new, this trading system is highly dangerous. From the starting point where we invest in cryptocurrencies that are not regulated by any government or bank. Cryptocurrency scams that occur can occur for a variety of reasons.

Beware of new tokens

In itself, each token when it first comes out on the market can be very risky, we are the ones who study their projects and decide whether to invest or not.

We have had large waves of very popular cryptocurrencies that from one moment to another are falling, and the fear of many is that it will reach zero.

Unreliable platforms

On the other hand, it is also very common to see how many investors risk working with unusual platforms or with histories of instability.

We can't ask why it happened if we didn't do a good research first.

In cryptocurrencies, people often think of becoming millionaires overnight.

This happens in some special cases, but not exactly in all those who invest. They risk and invest their life savings in a highly volatile market.

What should you invest in?

Certainly there are reliable cryptocurrencies with a long time of stability, as well as others that with little time come to break records of increases in prices, however everything can change and from one moment to another those that were through the roof will fall and those that had growth slow will rise.

Let's say that in a way everything is about successes, always with prior research. Now why do cryptocurrency scams happen? There is no single reason, in fact there are many, the means used to scam people are becoming more and more known.

There are hackers who have demonstrated the weakness of large platforms such as BINANCE. Saved perhaps, that it is only so that they can see their weak aspects and strengthen them.

Cryptocurrency fever brings danger

This has been a great year for cryptocurrencies, but also to alert the community of the constant cyberattacks to which they can be exposed. In addition to this, the experience of being guided by a real scammer is added.

In common ATMs we are exposed to receiving advice from people who only want the cryptocurrencies in your wallet.

This is something that is observed even in everyday life, only that the rise of cryptocurrencies can lead to more powerful losses.

Scams in tokens of doubtful origin (fake cryptocurrencies)

Just a few weeks ago we saw what could be a great millionaire scam. It is the SQUID token of the famous series released by Netflix The Squid Games.

Although the company made it very clear that it had no relationship with the cryptocurrency token or project, the fact was that everyone was stunned by the scam.

It is one of the most important, since for many it was surprising, as in the blink of an eye the token that was above $500 had reached 0%.

The official page showing the project was taken offline and the social media accounts were deleted. What happened? Well, let's think it was a nearly perfect planned mega scam.

Binance remains in continuous investigations to validate what happened, but to be honest, it is quite late for it. Nobody forced people to invest in this token. Everyone was carried away by the fury of the closure and these were the results.

Bitcoin ATMs Surrounded by Scammers

It can be one of the most common scams and to some extent frustrating.

In certain countries, the people who use cryptocurrency ATMs are usually seniors. They seek to upgrade in investment, however they do not handle online platforms, so they resort to the bitcoin ATM.

These places are haunted by scammers who claim to be in charge of providing advice, however they are only there to profit from investors.

This is not all, watch out for calls

If you remember some methods of scams via calls, then in cryptocurrencies it was not long in coming.

They claim to call from platforms or exchanges associated with the idea of leading the person to pass cryptocurrencies to a QR code that they themselves send.

The person goes to the nearest ATM and makes the transfer and the money is immediately from the scammers.

Like the rest of the scams, these are lost, but not without first transferring the money from your account to one abroad, being almost impossible to trace them.

Making or receiving payments in stores should be done with caution

If you really know the applications of your respective exchanges, then go ahead. If not, avoid making crypto payments in product stores as much as possible.

In some cases, by denoting the little experience of the user with cryptocurrencies, the people in charge claim that the money never arrived, they never received the payment, and they do not present any proof of it.

It is difficult not to know if it really happened when you are still inexperienced, the idea is to avoid being scammed by the different means that exist.

Spending time researching cryptocurrencies, studies of platforms and their applications can be the best ally you will have against possible scams.

Platform data theft

When platforms are not 100% secure, it is common for so-called cybercriminals to steal data for various reasons. In the majority to have direct contact with the investor through calls or emails.

Currently, the most recent case is taken by Robinhood who was hacked and the data of millions of users was stolen. What data? Emails and full names of millions of people.

Scam precautions

The only means that exist to disclose your personal data are the platforms recommended for years by thousands of traders. You must make sure that you are not entering a platform of little relevance or that already has problems. The first thing it should offer you is privacy and security.

You have ignored sudden calls from financial advisers in the field of cryptocurrencies, do not delay the communication and do not exchange personal data by that means.

At ATMs, try to be accompanied by a relative and if you go alone, do not establish relationships with strangers, even if they consider themselves advisers. Do not give your wallet data, or anything that could harm you.

We will continue to experience powerful cryptocurrency scams, and we will be in awe.

This world is very volatile, and we are not exempt from continuing to suffer from cyberattacks or theft through personal contact.