Scam Alert: Decoding the Dark Side of Crypto | Romance Scams |

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Cryptocurrency scams exploit individuals' lack of familiarity with blockchain technology using various tactics to steal funds. For example, Bitcoin scams often involve phishing, where scammers impersonate legitimate entities to obtain private keys or deceive victims into sending Bitcoin to fraudulent wallets. NFT scams frequently feature forgeries and imitations of valuable projects, enticing buyers with below-market prices.
Social media platforms are rife with fraudulent accounts and livestreams promoting fake giveaways or investments, capitalizing on the trust associated with verified profiles. Ponzi schemes promise unrealistic returns, using funds from new investors to pay earlier ones. At the same time, rug pulls, familiar in the DeFi and NFT space, involve creators disappearing with investor money after inflating the price of a token or collection.
References
Bochan, T. (2023, January 18). 6 Kinds of Crypto Scams and How to Avoid Them. CoinDesk. www.coindesk.c...
Fletcher, E. (2023, February 9). Romance Scammers' Favorite Lies Exposed. Federal Trade Commission. www.ftc.gov/bu...
Fletcher, E. (2023, February 9). Romance Scammers' Favorite Lies Exposed. Federal Trade Commission. www.ftc.gov/bu...
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Website: www.linktr/ee/kmtcminds