How do Crypto Scammers Steal Money

[InvestmentGuru]

Between 2021-2023 more than $1 billion was swiped by crypto scammers from around 46,000 people in different countries. To steer clear of these scams, you should know how these tricky scammers try to snatch your crypto money.

1. Impersonation: Scammers pretend to be famous people on social media by creating fake accounts. They repost the celeb's stuff to trick you into investing in fake projects.
   
2. Romance scams: Scammers use dating apps to get close to people. Once they've built a connection, they spin stories about money troubles. Because crypto addresses are anonymous, they can vanish without a trace.
   
3. Business scams: Scammers call business owners, pretending to verify purchases or posing as a Credit Card Company or bank. Their goal is to trick you into giving away your financial details.
   
4. P2P trading: Peer-to-Peer trading is another way scammers can trick people.
   

To avoid getting scammed, the best rule is to trust nobody online and never share your financial info without double-checking on your own.

[deucher]

I don't know much about the first three methods, but I understand the last method. In my opinion, there is not so much fraud of this kind because the exchanges where such operations are carried out have protected buyers very much, so it will not be possible to deceive just like that. Of course, if people do it on unknown exchanges or generally outside its borders, then in my opinion, this responsibility lies with the people themselves.

[Maria]

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

[Timgab]

Totally agree, these are popular method scammer use to dupe innocent ones off their finance in the online space. The 2 and 4 are very swift and easy to fall for and can worth you more pain than expected.

[Jojo]

Crypto scammers steal money through various tactics such as phishing, Ponzi schemes, and fake ICOs. They create fraudulent websites or emails resembling legitimate platforms to trick users into revealing sensitive information like private keys or passwords. For instance, fake ICOs promise high returns but vanish after collecting funds. Ponzi schemes use new investors' money to pay returns to earlier investors, collapsing when new investments dry up.