Key takeaways
Fake investment offers lure victims with promises of high returns. If the investment seems too good to be true, it probably is.
Fake job offers often require candidates to pay a fee to get the desired position, but the “employer” disappears as soon as the money is transferred.
Imposter scams are very common and exploit people's trust in reputable organizations, such as banks, government agencies and law firms.
Remember: Binance employees will never contact you through unofficial channels to offer investment advice, alert you about contests, or offer help unlocking your account.
Today we present to you some of the most common scams and give you some advice on how to avoid them, so that you don't get trapped by the bad tricks played on Internet users this April 1st.
Jokes, pranks, and good-natured jokes are common on April 1st. Unfortunately, scammers are also in on the fun and are taking advantage of the opportunity to prey on unsuspecting individuals. The major place occupied by digital communications and social networks in our lives helps scammers to get closer to Internet users with a view to stripping them of their property.
Scams can take many forms: a fraudulent Telegram message from someone claiming to be employed by Binance, an urgent email from a friend overseas asking for funds, or a scammer who will pay a high price for his declarations of love. However, their ultimate goal remains the same: to steal your money through trickery.
This article exposes the most common scams and advises you on how to avoid them. Thanks to this information and constant vigilance, you will enjoy this April 1st day with a light heart.
Fake crypto investments
Fake investment offers usually lure unsuspecting victims with promises of high returns. They typically take place in four stages: identify potential victims, gain their trust, convince them to invest, then close the trap. To improve their credibility, their authors often pose as financial advisors specializing in cryptos, representatives of well-established financial institutions, or even celebrities.
These investments usually guarantee exorbitant returns without requiring much effort or risk from the victim. Such scams can take many forms, but they all play the same way: the criminal lures victims with unrealistic promises of huge profits before fleeing with the resulting money.
Always remember that if an investment opportunity seems too good to be true, it probably is; so it is best to ignore it.
To avoid becoming the next victim of a fake investment, thoroughly research the project whitepaper and check the background of the company and team members behind the project in question.
Don’t be fooled by the professional appearance of websites or promises of high returns: no investment can guarantee future earnings. Also be wary of unsolicited investment offers that may be scam attempts, never disclose your personal information or account details to anyone, and report any suspicious activity to the relevant authorities.
Check out our blog post on fake crypto investments to learn more.
Fake job offers
Employment scams have been around for a long time, but have increased due to the long-term consequences of the pandemic on the job market. Scammers take advantage of job seekers by offering highly flexible hours and salaries well above industry averages, while requiring minimal or no skills and work experience.
Fake job offers that seem too good to be true usually never are: they often require applicants to pay a fee to get the desired position, but the scammer disappears as soon as the money is transferred, leaving the victim with no money or money. work.
To avoid falling into the trap of fake job offers, do your research and check the legitimacy of all companies and job offers you find. Be wary of unrealistic offers that promise effortless work and high pay, ignore positions with few or no prerequisites, and don't respond to recruiters who pressure you to immediately accept their offer.
Also watch out for email addresses that are not those of real companies and poorly programmed websites. Always refuse job offers that require payment of funds: no legitimate company will ask you for money.
Visit our blog post on fake job offers to learn more.
Imposter scams
Imposter scams are very common and exploit people's trust in reputable organizations, such as banks, government agencies and law firms. Their authors try to trick Internet users into disclosing their personal information or transferring money to them.
They often use false narratives and social engineering tactics, and can even craft very persuasive speeches based on current events. These scams may start with a phone call, email, or text message, and phony customer service phone lines may even be created to reinforce the authenticity of the scheme.
Be wary of so-called government officials who contact you out of the blue, especially if they threaten arrest or other legal action if you don't pay them money. Remember: Real government employees, especially police officers, will never demand payment from you or threaten legal action against you over the phone or email.
If you receive a suspicious message from an individual claiming to represent the government, it is best to contact the organization directly through their official channels to verify the authenticity of this communication.
Check out our blog post on imposter scams to learn more.
Binance employee impersonation
In this scenario, fraudsters pose as employees or representatives of Binance in order to offer you phony services designed to steal your money. Typically, these criminals contact their victims through fake emails or on social media using an account that almost exactly replicates an official Binance account.
Nowadays, any Internet user can create fake profiles on social networks with the name and logo of Binance, and it is not uncommon to come across these impostors on social networks and messaging applications. Despite our best efforts, we have little control over the moderation of such platforms, and Binance employee impersonators are able to create new accounts in seconds anyway.
To avoid being tricked by these schemes, remember that Binance employees will never send you the first message from unofficial channels to offer you investment advice, warn you about contests or offer their help to unlock your account. Be wary of any suspicious messages, especially if they were sent by someone claiming to be employed by Binance.
Pay attention to the username or email address, especially the domain name at the end, to confirm the identity of the sender. You can also verify the authenticity of email addresses and website links at Binance Verify.
Visit our blog post on Binance employee impersonations to learn more.
Conclusion
This article only summarizes a small part of the schemes used by fraudsters to try to extract money from Internet users. Watch out for particularly bad April Fools, and make sure you don't find yourself in a situation from which you won't be able to get out without losing your feathers. We obviously encourage you to remain vigilant throughout the year!
The Binance Risk Management team has rounded up 12 of the most common crypto scams, including romance scams and fake contests. Check out our blog regularly, where we present a different scam and its mechanics each week and give you tips on how to spot and avoid it.
