Table of Contents
Overview
As we can see, the crypto market is one of the most popular financial markets in the world at the present time. Nowadays, people prefer to trade or invest in this financial sector. But with something becoming popular, people start to take the wrong path; we have seen that with this rise in cryptocurrency, cyber securities are also getting compromised. Since the crypto market is fully digital, thus it is becoming easy for cybercriminals to get into your computer and scam you. In the last few years, the graph of these scams has gone upwards. Statistics show that over.
$76 billion of the cybercrimes are related to cryptocurrency.
But the question is how scammers are getting successful in stealing money from people even though the crypto market uses blockchain technology. If you too wonder about this, let us explain this to you, these people are not hacking into your account because they cannot break through the complex coding of blockchain technology; rather, they are using few tactics such as free giveaway of crypto coins, and when you are providing your bank details to claim those free coins they are hacking your bank account.
The general public is falling into this trap because they do not have the proper knowledge. Regarding these scams, this is what scammers are utilizing to take all the hard-earned money of innocent people, especially beginners, who have no idea how the crypto market works and don’t know the details of a cryptocurrency that they prefer to invest in.
On that account, for your safety purpose, we have brought you the list of some common cryptocurrency scams that you must know before you commence with your journey in the crypto market crypto liquidity provider. We believe if you are aware of these scams, you can safeguard yourself from these cybercriminals by taking adequate measures.
The List of cyber scams related to cryptocurrency
As we know, the crypto market is decentralized, and that is why without the intervention of the government, financial institute, or any organization, the market works. It is a great policy to obstruct the influence of any external power. But sometimes, this boon becomes a curse; due to lack of the involvement of financial institutions, the transactions made by you are not reversible.
Therefore, if you press that okay option once, there are zero chances of getting your money back. Thus, you must know about these scams so that you can stay aware and make safe payments.
- Fake crypto exchange websites
- Blackmail or extortion cryptocurrency scams
- Free giveaway of cryptocurrency
- DeFi cryptocurrency rug pulls
- Squid game token
- Fake ICOs,
What to do to safeguard yourself from these scams?
If you want to safeguard yourself from these scams, the first thing that you can do is choose a legit crypto exchange. If you want to know about one such legit crypto exchange, you can check out Quantum AI crypto exchange platform. When you have the right crypto exchange, you must use antiviruses on your device. Along with that, never click on any links that are offering you free cryptocurrencies.
The bottom line
You must stay aware of these scams to avoid losing any of your hard-earned money. Hopefully, our blog post has helped you to understand the scams that can fool you.
