<aside> ⚠️ The mad rush into cryptocurrency over the past several years has caught the attention of all kinds of investors, but it has also caught the attention of scammers.

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<aside> ⚠️ Crypto scams most often aim to gain private information such as security codes or trickan unsuspecting person into sending cryptocurrency to a compromised digital wallet.

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<aside> ⚠️ Social engineering scams such as giveaways, romance scams, phishing, extortion emails, and others are a problem in broader society, but they are especially prevalent when it comes to cryptocurrency.

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Types of Cryptocurrency Scams

Generally speaking, cryptocurrency scams fall into two different categories:

1. Initiatives aiming to obtain access to a target’s digital wallet or authentication credentials. This means scammers try to get information that gives them access to a digital wallet or other types of private information such as security codes. In some cases, this even includes access to a physical hardware.

2.Transferring cryptocurrency directly to a scammer due to impersonation, fraudulent investment or busines opportunities, or other malicious means.

Social Engineering Scams

Romance Scams

Imposter and Giveaway Scams

Phishing Scams

Blackmail and Extortion Scams

Investment or Business Opportunity Scams

New Crypto-Based Opportunities: ICOs and NFTs

Cloud Mining Scams

What Are Some Claims That May Be Warning Signs of a Potential Crypto Scam?

According to the Federal Trade Commision, look for tall claims like these to help spot companies and people to avoid -