Telegram has become a significant platform for cryptocurrency-related scams, with fraudsters employing various tactics to deceive users. Notable recent scams include:
1. Malicious Verification Bots: Scammers impersonate crypto influencers on platforms like X (formerly Twitter) and invite users to Telegram groups. Within these groups, users are prompted to verify their identity through fake bots such as "OfficiaISafeguardBot." These bots inject malware into users' systems, compromising crypto wallets and leading to substantial financial losses.
2. Fake Investment Schemes: Fraudsters create counterfeit Telegram accounts, posing as employees of legitimate companies, to lure individuals into sending cryptocurrency under the guise of investment opportunities. For instance, a scammer impersonated a Coincover employee, attempting to trick a user into sending $800 worth of Bitcoin.
3. Impersonation of Experts: Scammers pose as professors or experts on Telegram and WhatsApp, offering fraudulent investment advice to deceive crypto investors. Regulators have reported multiple complaints about such scams, highlighting the need for vigilance.
4. Pump-and-Dump Schemes: Research indicates that Telegram channels are used to coordinate pump-and-dump schemes, where the value of a cryptocurrency is artificially inflated before being sold off by the organizers, leaving other investors with losses.
5. Technical Support Scams: Fraudsters offer fake wallet recovery services on Telegram, targeting users experiencing wallet-related issues. These scams often lead to the theft of private keys and loss of funds.
To protect yourself from such scams:
Verify Sources: Always confirm the authenticity of messages and accounts, especially those offering investment opportunities or technical support.
Avoid Sharing Sensitive Information: Never share private keys, seed phrases, or personal details with unverified sources.
Be Skeptical of Unrealistic Promises: Be cautious of offers that guarantee high returns with little to no risk.
Use Official Channels: Seek information and support directly from official company websites or verified social media accounts.
Staying informed and exercising caution are crucial in navigating the cryptocurrency landscape on platforms like Telegram.