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This scam involves creating cloned accounts of Crypto Social Media Influencers, Icons and Crypto Founders (like Etherium co-founder, Vitalik Buterin), human support staff from known Exchanges, Crypto Whales, etc. This method is probably one of the most complicated and daring because:
a) It’s in the public eye (literally, under everyone’s nose)
b) The accounts involved are at risk of being blacklisted and permanently banned from those social networks
c) They act quickly and can be very believable (until they get knocked out)
Typical guises they use are Airdrops, sweepstakes, update notifications or false news, “send crypto for double, triple profits”. Here are some examples of Twitter account owners who initially reported or called out such scammers.
Watch out for scammers and impersonators on Instagram. Some have more than 100k followers. I am NOT on Instagram, Facebook, Telegram etc, only on Twitter.
Also watch out for twitter impersonators. They are in the comments under my tweets, trying to DM you. I do NOT DM you! pic.twitter.com/yoE4lqqHqz
— PlanB (@100trillionUSD) November 18, 2021
In addition to beware of typical clone or imposter warning signs such as the use of uppercase or lowercase letters, number variations or suffixes such as .offical or .usd as shown in the example above. The “send your crypto and get double” scam has become so prominent that even the founder of Cardano, Charles Hoskinson has spoken out in this Youtube video. He eloquently explains the Scam Giveaway below.
Finally, these impostors can also impersonate Customer Support. This actually happened to me, no damage, fortunately. I want to solve the problem of connecting the wallet with Trust Wallet. Since I couldn’t send them a direct and private message, I tweeted. My tweet was picked up by both legitimate as well as a scam account. Both contacted me to resolve the issue. Check below how audacious it is for a fake account IMMEDIATELY to look like GOOD PEOPLE taking out the BAD APPLICATIONS…Yukkk! Significant signs in this case are the fact that the account is not verified with ticks (), the number of followers is embarrassingly low, and some language “sounds unprofessional” in message. Real accounts and pro accounts should look and sound that way (Above Crypto and English Terminology)
Use caution and extreme caution when you download Crypto Wallet from Android AND even iOS store. WHY? Again because of the clone wallet again UPDATE the legitimate wallet. This can happen around forging events. Still wondering what you see, check reviews and contrasts or even check with REAL projects to verify! It takes a few extra steps but the benefit is the avoidance of lifelong regrets (possibly)! Case in point below:
YOUTUBER INFLUENCE SCAMMER
As I mentioned at the beginning of this article, one of the scams of crypto scammers is to scam with their already known public figures in the public sphere (network). social) – during the day if you can. In this sense, if you own a project, DO NOT blindly trust any Crypto Influencer with your crypto to promote without insurance. A project team from Germany experienced it firsthand. They were trying to get a Youtuber to advertise their NFT. He gets the NFTs, intercepts them and ppppuuuuffff disappears.
EXCHANGE OF CHILDREN
These exchanges can also be considered as FLY-BY-NIGHT exchanges. Easy to come, easy, so the alarm goes off every time you pass an unverified and untested exchange that promises insane profits without a “possible representative face” see”! Fortunately, one of the platforms that IDENTIFIES; NAMES & SHAMES such exchanges are Bitcoin.com. So when in doubt, check and compare! If you don’t do your part, the crooks behind these scammers may end up making money with your cryptocurrency. Furthermore, with cryptocurrencies still in layered regulatory processes of law and institutional control, these unethical practices go unpunished.
CLASSIC PYRAMID SCHEDULE
You may know the classic pyramid scheme from but not limited to a few Multi-Network Marketing companies. The simple test is that if the project, or coin or token, requires you to get people involved as a MAIN activity, then it is a pyramid scheme. This forced recruitment initiative often lures and picks up participants with unreasonable earnings. Examples of Pyramid or Ponzi schemes in crypto are: Onecoin (most recognizable representative and founder, Ruja Ignatova) simply disappeared from the face of the earth. Another scandalous case is that of Bitconnect. Ironically, (or prophetically, crypto heavyweights like Vitalik Buterin, followed by Mike Novogratz and Charlie Lee) have punctured their silly and unsustainable comeback “promise” Bitconnect. Others include PlusToken, GainBitcoin and Mining Max, among many others past, present and to come. ONE PERSON CAN NEVER be too careful!
Similar to banking scams, think of this type of scam as a Trojan virus that scams from within. The purpose of this scam is to get rid of your login details like username, password and even seed phrases. REMEMBER, no legitimate exchange, project or token will ask you to ¨provide such details¨. Avoid unusual messages and even invitations to fill out Google Sheets from unknown sources. Other typical scam scams include punycode and fake airdrops. Find some practical tips to stay safe below:
You will spot a scam ICO if the whitepaper is copied, with spelling and/or grammar errors, the mysterious team behind the project, no public access nor a channel to ask questions. Additionally, these scam ICOs are perpetuated by noisy marketing hype and illusory project milestones. If you spot some or more of these red marks, REMOVE ASAP (and report to relevant reddit threads or Crypto Youtube sleuths like CoffeeZilla). I’ve included a CoffeeZilla video exposing one of many crypto scams..whether it’s a project or a celebrity earning a s**tcoin!
Finally, be vigilant and question everything and everyone. Also emulate the wisdom of the African proverb that “Only a fish can test the depth of a river with both feet”.
#Avoid #infuriating #crypto #scams #dont