#CryptoScamSurge ;
Common crypto scams đ§
Let's look at some common crypto scams with examples.
*Pump and Dump:
"Pump and Dump" is a crypto scam where fraudsters inflate a worthless coin's price with hype ("pump"), then sell their holdings ("dump"), causing the price to crash and leaving others with losses.
*"Pig Butchering" Scam:
This scam involves building trust, often romantically, then luring you into a fake crypto investment platform with promises of high returns. You'll deposit money, see fabricated profits, but ultimately lose everything when you can't withdraw funds and the platform vanishes. They "fatten you up" with trust before taking your money.
*Phishing:
Scammers send fake emails or messages (impersonating real crypto exchanges or services) with links to look-alike websites. If you enter your login details on these fake sites, the scammers steal your credentials and drain your real crypto wallet. They "fish" for your sensitive info.
*Giveaway / Free Money:
Scammers post on social media (often impersonating celebrities) promising to send you a larger amount of crypto if you send them a smaller "fee" or "verification" amount first. You send your crypto, but never get anything back. It's a classic "advance fee" scam in crypto form.