The use of the internet has greatly advanced our world, but with its benefits come potential dangers. In the world of cryptocurrency, scammers have taken advantage of the digital landscape to steal millions of dollars every month. These scams, also known as fraudulent or deceptive acts, target individuals’ crypto assets rather than cash. To protect yourself and your investments, it’s important to be aware of the top 5 crypto scams and how to prevent them.
- Phishing Scams – Scammers trick individuals into giving out their crypto wallet’s credentials by impersonating a bank or popular e-commerce site and redirecting them to a fake website.
- Investment Scams – Scammers persuade individuals to send them cryptocurrency with promises of huge returns, but then disappear as soon as the transaction is complete.
- Pump and Dump Schemes – Scammers use social media or emails to hype up a specific crypto coin or token, causing the price to increase and then dump their own holdings, leaving other investors with significant losses.
- Upgrade Scams – Scammers manipulate software updates to trick individuals into entering their crypto wallet’s private key as part of the upgrade process.
- SIM-swap Scams – Scammers gain access to a copy of an individual’s SIM card, allowing them to access phone data and receive authentication codes needed to access crypto wallets and other accounts.
If you or someone you know has fallen victim to a crypto scam and lost funds, don’t despair. Lionsgate Network is a professional recovery service that specializes in retrieving lost or stolen crypto money. With a variety of retrieval services, Lionsgate can assist in every kind of theft case through crypto scams. Don’t let scammers steal your hard-earned investments – trust the experts at Lionsgate to recover your lost funds.