Crypto fraud: How to protect yourself

The illusion of true love

Criminals use fake online profiles to gain the sympathy and trust of the victim. They quickly feign love and affection, pretending to be from the same country or claiming to be abroad for business or as military personnel. The scammer needs money due to an emergency, to cover a hospital bill, or for an urgent trip. To protect yourself, be suspicious if someone shows love and affection quickly and asks for money. Never be tempted to send money to someone you haven’t met in person. Be cautious if someone online quickly shares personal information or pressures you to provide financial help. Trust your instincts and do your research before making any decisions.

The dream of a big win

This scam offers the promise of enormous wealth or generous gifts, sometimes even endorsed by celebrities. Victims are lured and tricked into giving away their money or personal information with promises of a significant payout. To avoid this scam, be wary of unrealistic promises of winnings. It’s advisable to thoroughly check the background of the person or team, especially scrutinizing the domain name and email correspondence. Be skeptical of offers that seem too good to be true, and do your research before disclosing personal information or money. Trust reliable sources and stay informed through credible information channels to avoid falling victim to fraud.

The fake official scam

Scammers pose as government officials, such as immigration officers, tax authorities, or even law enforcement agencies. They claim that the victim’s bank account has been frozen and that the money must be transferred to a crypto account. Alternatively, they demand notary fees or customs duties that need to be urgently paid. To protect yourself, always contact government authorities directly. These agencies rarely, if ever, contact you via phone, SMS, or email. Hang up and use the official contact information found on the public website of the respective authority. Be particularly cautious if someone puts you under pressure or threatens you to force immediate payment. Always verify the caller's identity and the legitimacy of the claims before making any financial transactions.

The giant investment opportunity scam

Investment scammers promote opportunities with supposedly high returns and little or no risk. To protect yourself, be especially skeptical of websites or providers that promise high returns or unrealistic investment opportunities. Only send cryptocurrency to trusted recipients, and look for publicly verifiable reviews or articles about the recipient from credible sources. Verify the credibility of the platform or provider by reading reviews and experiences from other users. Trust your instincts and be cautious of offers that seem too good to be true. It’s better to be safe and thoroughly research before making an investment.

Here are the key points to consider if you're unsure:

• Verify the provider's website and contact information: Ensure the website is legitimate and includes accurate contact details, such as a phone number, email address, and physical address. Check these details carefully, and don’t hesitate to contact customer service to verify the authenticity. Look for professionalism, like an SSL-encrypted connection (recognizable by "https" in the URL) and a full legal notice. Be cautious with websites that don’t provide this information transparently. By following these steps, you can minimize the risk of falling victim to a scam.

• Research the company: Check the company through online databases by entering its name or the cryptocurrency in a search engine. You can also look for reviews, forums, and social media for more information. Pay attention to what others are saying about their experiences, especially any negative reviews or warnings. This thorough research helps you determine whether the company is trustworthy and if the investment is safe.

• Beware of unrealistic returns: If you are promised very high returns that sound too good to be true, it's probably a scam. Stay cautious of offers guaranteeing unrealistic gains and stick to investments with realistic and understandable return expectations. It’s better to be cautious and avoid potential fraud than to experience a loss later.

• Be cautious of unexpected calls or emails: Remember that reputable companies will not contact you unexpectedly to offer investment opportunities. Be wary of unsolicited calls, emails, or messages promising high returns. Trusted companies provide their services transparently and respect your privacy. If you’re contacted by a company you don't know or didn’t expect, take extra care and verify the situation thoroughly before taking action.

• If something sounds too good to be true, it probably is: Trust your instincts and be cautious of anything that seems too good to be true. Often, if something seems too perfect, there’s a high risk it could be a scam. Listen to your intuition, take your time to research thoroughly, and evaluate all aspects before taking action. It’s better to be safe than blindly trusting and potentially falling victim to scammers.

You’re now equipped with tips and tricks to protect yourself from fraud involving Bitcoin and other cryptocurrencies. However, keep in mind that scammers are always developing new tactics to deceive people and steal their money. If you're ever unsure whether an offer you've received is legitimate, don't hesitate to contact our support team. We are here to help you stay protected against fraud. Your security is our top priority, and we’re ready to assist and answer your questions.