This is one of the most popular methods among attackers. It is used almost everywhere where it is possible to collect data or trade money, and not just in the cryptocurrency world. Criminals place a full copy of a website online. Most often, visitors are redirected to it with the help of advertising.
Another common phishing method is sending emails containing fake website URLs. The user logs into his account on such a resource, after which the attacker receives this data. This method can even be used to gain access to accounts that have two-factor authentication. The 2FA code is valid for at least 30 seconds. This time is enough for the criminal to steal money from the user.
You can avoid phishing if you follow simple rules. You should always add the sites you use to your favorites. Also, before clicking on external links from messages in email, check them. Before entering your account login information, make sure the site URL is correct.
Fake exchangers and scam exchanges
Fake trading platforms deceive victims by pretending to be legitimate platforms. Fraudulent exchanges often lure users with advertisements, phone calls, or emails promising high returns on investment.
Criminals develop websites with adaptive designs and provide traffic information, and trading volumes. Victims are even encouraged to set up two-factor authentication (2FA). After the user deposits funds to the balance of his account, the exchanges refuse to withdraw digital assets or block the client altogether.
Ponzi scheme and pyramid schemes
Platforms that promise suspiciously high returns are mostly pyramid schemes. On such sites, users can be promised earnings at the level of 1% per day or more. The scheme is not new and moved to the world of cryptocurrency from the sphere of finance. The bottom line is those old investors are paid by new investors. In this case, the platform remains profitable enough for new members to be willing to join. Once this stops, the platform collapses. Its owners instantly disappear, taking with them all the money of investors.
As a rule, in the first weeks/months/years, the organizers of the pyramids pay quite well. This is necessary to inspire confidence in potential investors. Many of them see payment confirmation.
Such sites necessarily have their affiliate program, which will allow you to earn a lot. It often includes several layers, like a pyramid. Around this pyramid, a large circle of people is formed who will recommend the platform to subscribers. But over time, any platform will stop paying bonuses and turn off, no matter how sweet the promises are.
With all this, there is an interesting point. Most of the people who take part in the pyramid scheme are fully aware of this. However, they still hope to make money on it. We strongly discourage our users from participating in such schemes. Remember that your profit comes from other investors.
Mostly this method of fraud is found in Telegram and Twitter. Attackers leave comments of companies or individuals under posts that contain a link to a website with the opportunity to get cryptocurrency for free.
If you follow the link, you will be informed that first, you need to make a transfer of a certain amount in bitcoin or Ethereum for verification. After the transfer, according to the promise of scammers, your cryptocurrency will be doubled or even increased tenfold. Naturally, you will simply lose your cryptocurrency.
In some cases, wallets are indicated directly in the comments.
Attackers each time manage to come up with new tricks. For example, they access a verified account and rename the username. In addition, they are engaged in the publication of fake reviews using bots, which indicate that they have already received cryptocurrency. Such messages are shown at the top of the page, as a lot of fake comments under posts and likes are generated.
A striking example of such a scam is the July Twitter hack. Its result was the appearance of tweets from celebrities that they promise to double the amount for replenishing a certain bitcoin wallet. Among the stars were Elon Musk, Barack Obama, Bill Gates, Kanye West, etc. There is information that scammers planned to hack up to 130 official accounts of stars and companies. Fortunately, this did not happen. However, hackers still managed to get $120,000 from unsuspecting users.
Fake mobile apps
Another popular trick among cybercriminals that users often fall for is the use of fake applications. They are placed on popular services – Apple Store and Google Play. Thousands of users around the world download fake applications designed to work with cryptocurrencies, making a gross mistake. At the same time, services, as a rule, such applications are promptly removed.
This method is most often used for the Android OS, but any investor is not immune from such fraud. You should pay attention to the presence of obvious typos in the name of the application. In addition, you should be alerted by the use of non-original colors in the brand name and/or logo. Double-check the application and for your safety, it is better to download it from a trusted source.
If you use a fake application to carry out any transactions related to the transfer of funds, you will certainly lose them.
Yes, this is an outright scam. However, it often happens that such applications have a high rating. It can also indirectly indicate to the user their legitimacy. You can avoid such deception by intruders if you download applications only from official sites or via direct links from trusted sources.
Advertising cryptocurrencies using famous personalities
The following type of fraud is very popular in America. It consists of the use of advertising messages, where images of famous personalities are used. They allegedly speak by their example about how you can quickly make money. If you click on such an advertisement, you will be redirected to a page where they promise huge profits.
Such advertising campaigns are carried out using Google, Instagram, and Facebook platforms. As a result, they have a higher priority than other messages.