What are the cryptocurrency breaches you need to be aware of?

Cryptocurrency scams have shaken the financial sector since the day bitcoin became popular, and it is estimated that more than $ 1 billion has been lost in such scams. At the same time, millions of people die each year from such scams. We expect you not to fall victim to such scams, and for this reason we present to you this article that will help you in one way or another to find many crypto scams that exist.

These are the types of Cryptocurrency Scams –

Gift scammers

It is incredibly rare for someone to receive a legitimate reward that will require you to send your money first. You need to be careful about this type of text message on social media. These can be derived from accounts that may seem the same depending on the species a person knows and really likes, but it will be part of the trick. As for the many responses that thank these accounts for their special generosity, they are just fake company accounts or bots embedded in sales fraud.

Fake mobile applications

After a client installs a malicious application, everything may seem to work as intended. On the other hand, these programs are specifically designed to steal your cryptocurrencies. In the crypto room, there are many cases where customers download malicious applications that their developers have forged as a large crypto company.

In such a scenario, when a user is offered a contract to fund a wallet or receive payments, they actually send cash to an address that actually belongs to the scammer. Due to the exchange rate, there are no refund buttons when transferring money.

Pyramid and Ponzi Schemes

In a Ponzi scheme, you can see an investment opportunity with a certain profit, which is the first red flag. In general, you can see this special scheme disguised as a portfolio management service. In fact, there is no magic formula in the office, the “income” obtained here is only the money of other investors.

In a new pyramid scheme, there is a bit more work required by the people involved. Typically, the pyramid will be the coordinator. Under these people, a certain number of men and women will gather to work at a certain level, and each of the men and women will earn their own number of people, and so on. As a result, you have an important structure that grows like a pyramid, resulting in overgrowth and new levels.