🚨🚨🚨 How Do Scammers Cheat People Who Invest in Crypto?
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Copying Famous Brands :
This strategy frequently takes advantage of the investors' long-standing faith in a brand to deceive them. To trick the unwary investor into lowering their guard, the fraudster typically displays the program in a style that closely resembles a trusted brand.
For instance, in 2022, a few con artists stole almost $5.5 million from cryptocurrency investors by impersonating YiBit staff members. They persuaded victims to download a fake YiBit cryptocurrency trading program, which they then used to steal money from them. These cryptocurrency investors were unaware that the legitimate YiBit exchange stopped operating in 2018.
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Schemes Using Social Engineering:
In a social engineering strategy, con artists carry out a planned but false program with many levels of manipulation. They start by locating possible targets, frequently searching social media sites for those who are curious about cryptocurrency or financial ventures. They frequently use dating services to meet their victims on a personal level. These first encounters are meant to build trust and familiarity.
The con artists advance to the following stage of their ruse after a connection has been made. They deftly coerce their victims into downloading bogus bitcoin apps that are deftly made to resemble reliable trading sites. At first sight, these applications could seem real and trustworthy, replete with slick user interfaces and alluring claims of significant returns on investments.
