02-05-2024, 05:50 AM
Crypto scammers employ various tactics to steal money, including phishing emails or websites that mimic legitimate platforms to trick users into revealing private keys or login credentials. Fake initial coin offerings (ICOs) lure investors with promises of high returns before disappearing with funds. Pump-and-dump schemes artificially inflate the price of a cryptocurrency through false information, allowing scammers to sell at a profit before crashing the market. Social engineering involves manipulating individuals into transferring funds. Additionally, malware and ransomware can compromise wallets and extort users. Vigilance, secure practices, and verifying sources can help prevent falling victim to crypto scams